On Thursday, the Gujarat government announced a relief package for rehabilitating the micro, small, and medium enterprises (MSMEs) of Vadodara city and district, which suffered losses due to the recent floods.
State government spokesperson Rushikesh Patel informed the media that Chief Minister Bhupendra Patel approved the relief package during a state cabinet meeting. The funds will be provided from the Chief Minister’s Relief Fund.
As per the package, lorry owners will receive a lump sum of ₹5,000. Owners of permanent small cabins up to 40 square feet will be given ₹20,000, while those with cabins larger than 40 square feet will get ₹40,000. Traders with small and medium-sized permanent shops will receive ₹85,000 in relief.
Shop owners with a monthly turnover exceeding ₹5 lakh will be eligible for a loan of ₹20 lakh to cover their losses. Additionally, they can avail a ₹5 lakh loan at a 7% interest rate for up to three years. To apply for the relief, Patel said, ‘Applications must be submitted to the municipal commissioner, Mamlatdar, or chief officer by October 31.’
Patel did not disclose the total amount of the relief package, explaining that all applications will be funded through the CM’s Relief Fund. He also withheld details on the total damage caused by the floods, noting that a central government team is conducting a survey to assess the damage. Additionally, all ministers and members of the legislative assembly (MLAs) have pledged to donate one month’s salary to the CM Relief Fund to support those impacted by the disaster.
The Gujarat government’s relief package for MSMEs in Vadodara underscores a significant commitment to supporting local businesses affected by recent floods. The comprehensive aid, including cash assistance and low-interest loans, is designed to address immediate recovery needs and facilitate longer-term rebuilding efforts. By providing financial support tailored to different types of businesses, the state aims to stabilise the local economy and assist in the swift recovery of essential commercial activities.
In the wake of Gujarat’s relief efforts, Vakilsearch is dedicated to helping businesses navigate the complexities of applying for and utilising relief funds. Our services ensure that MSMEs efficiently manage compliance with relief requirements, from application assistance to regulatory adherence. With expertise in managing financial documentation and navigating government processes, Vakilsearch provides the support needed to maximise the benefits of relief packages and facilitate a smooth recovery for your business.
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