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Narayanasamy asks Centre to waive interest on loans

Published - April 28, 2020 12:01 am IST - Puducherry

Chief Minister V. Narayanasamy has requested the Centre to waive off the interest for loans taken by the Union Territory from the Reserve Bank of India, Housing and Urban Development Corporation Limited and National Bank for Agriculture and Rural Development.

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In an audio message on the video conference he had with Prime Minister Narendra Modi on Monday, the Chief Minister said that the UT had incurred huge revenue loss due to the lockdown.

The Centre should prevail upon the RBI, Hudco and Nabard to waive off the interest and ensure three months moratorium for repayment of the principal amount. He also requested the Prime Minister for early release of GST compensation to the tune of ₹360 crore and reimbursement of around ₹2,000 crore for implementing the Seventh Pay Commission recommendations.

He also sought the Prime Minister’s help in bringing back people from UT living abroad. Students and those working in foreign countries have expressed their desire to return home, he added.

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The Centre should also make transport arrangements for migrant workers staying in U.T. to return to their native places, he said.

Presenting a detailed account on the welfare and financial assistance provided by his government to various sections of people during the lockdown using own resources, the Chief Minister said the Centre should address the livelihood concerns of people while taking any future decision when the lockdown ended on May 3.

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