Gandhinagar: The state cabinet, which met on Tuesday, decided to extend a financial assistance package for the business community in Ahmedabad, similar to the one announced for businesses in Surat, which suffered heavy losses because of widespread waterlogging due to rain.Govt said on Tuesday that a transparent assessment of losses will be conducted by the local administration through on-site surveys, photography and videography, after which a financial assistance package will be announced for businesses, small and large traders, street vendors, kiosk holders and shopkeepers.Speaking to the media after the cabinet meeting, govt spokesperson Jitu Vaghani said the assistance package will be applicable across Ahmedabad district and beneficiaries can either opt for lump sum cash assistance or interest subsidy. “Applicants who wish to apply for interest subsidy can do so within six months of approval of the package resolution,” he said.The package offers graded financial assistance to affected traders and businesses based on the size and nature of their establishments. Handcart and pushcart owners are eligible for a one-time cash assistance of Rs 7,500, while owners of small cabins (up to 40 sq ft) and larger cabins (over 40 sq ft) will receive Rs 25,000 and Rs 50,000, respectively. Permanent shops with a built structure that have filed GST returns for the last quarter are eligible for a one-time grant of Rs 1 lakh.In addition, permanent shops can avail of a 7% interest subsidy for three years on term loans, with the level of support linked to their monthly GST turnover. Shops with turnover of up to Rs 7.5 lakh, Rs 7.5 lakh to Rs 15 lakh, and above Rs 15 lakh are eligible for subsidised loans of up to Rs 20 lakh, Rs 25 lakh and Rs 30 lakh, respectively, with the maximum interest subsidy capped at Rs 5 lakh, Rs 8 lakh and Rs 10 lakh, the spokesperson said.
