Package of Incentives
- Document type
- Policy
- Dated
- Category
- Policy
Sick Units
A fund shall be constituted for providing financial assistance for revival of sick units. Assistance to the extent of 30 per cent of the total additional loan requirement of the sick unit may be provided to the sick unit provided that the amount of such assistance shall not exceed 30 per cent of the capital cost of the project worked out after conversion of any outstanding liabilities of financing institutions into term loan. The assistance shall be in the form of a soft term loan with one per cent rate of interest per annum. The amount may be used for meeting margin money needs of the sick unit as also for liquidating liabilities of Government departments.