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Subsidy for hotel investments

Special Correspondent

Distributes loans to farmers and self-help group members

Puducherry: Chief Minister N. Rangasamy said that since the Union Territory had been attracting ever-increasing number of tourists, there was every need to improve accommodation and hotel facilities here.

Distributing loans to farmers, dairy farmers and members of self-help groups under various schemes of the Indian Overseas Bank (IOB) here on Monday, he said that with a view to enabling entrepreneurs to come forward to set up accommodation centres or hotels, the Government would extend subsidy of 25 per cent for an investment of Rs. 1 crore. As much as one-lakh litres of milk was needed every day and with the administration implementing free milk scheme to benefit school children, the need to raise milk production had become important.

Mr. Rangasamy handed over Rs. 40 lakh covering 70 self-help groups, Rs. 85.70 lakh to 17 borrowers for tractors and Rs. 46.69 lakh under "farmers income guarantee scheme" operated by PONLAIT (Milk Producers Cooperative Union) under IOB's loan scheme. Chief Regional Manager, IOB, K. Srinivasan, General Manager P.K. Tripathy, Secretary to Government A. Anbarasu, Joint Registrar of Cooperative Societies A. Balasubramanian, S.P. Sivakumar MLA and Chief Manager of IOB T. Ramasamy spoke.

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Subsidy for hotel investments

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