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Goa mining debt relief scheme extended until 2027, says CM Sawant
GOa Chief Minister Pramod Sawant announced the extension of the debt relief scheme for mining-affected borrowers until 2027. The scheme, first notified in 2014, provides a subsidy on loan settlements to truck, machinery, and barge owners affected by the 2012 mining ban.
Why It Matters
The extension aims to support borrowers who struggled with repayments due to the mining ban, potentially stabilizing Goa's mining-linked economy and related livelihoods.
Timeline
3 Events
April 22, 2026: Goa CM Sawant extends debt relief scheme until 2027
April 22, 2026
Goa Chief Minister Pramod Sawant announced the extension of the debt relief scheme for mining-affected borrowers of financial institutions until 2027, noting that some eligible borrowers have yet to apply.
September 2014: Debt relief scheme first notified
September 2014
The debt relief scheme for mining-affected borrowers was first notified in September 2014 and was initially valid for six months. It offered a 35% subsidy on loan settlements from financial institutions to assist stakeholders including truck, machinery, and barge owners affected by the 2012 ban.
2012: Supreme Court bans illegal mining in Goa after Justice MB Shah report
2012
The Supreme Court banned illegal mining in Goa in 2012 following the Justice MB Shah report on illegal mining of iron ore and manganese.