LABOUR NEWS

Special Tea Term Loan


In his budget speech, to improve the tea sector Finance Minister Jaswant Singh said: "Tea is an important agro-processing industry, employing a large number of our citizens in North Bengal, Assam, the North-East and some of the Southern states. Currently, this industry is beset by many problems. I had, therefore, asked the Indian Banks Association to prepare a revival package. This has now been finalised. Special Tea Term Loan, repayable in five years, with a moratorium of one year, shall be provided. In case of small tea growers banks have agreed to extend fresh working capital limits up to Rs.2 lakh, at an interest rate of 9 per cent. In addition, steps will be undertaken to examine the feasibility of a debt amelioration scheme in the tea sector, too."

 

But the reality is that thousands of tea workers are losing their jobs in the tea gardens of India. They are  denied wages, do not have food to eat and no medical care. Stories of starvation-induced deaths are reported from the tea gardens of Assam, West Bengal and  Kerala. No steps are taken to address these issues. In such a situation how far will the new schemes - if they come into existence - help the tea workers to survive?

Author Name: Labour News Service (LNS)
Title of the Article: Special Tea Term Loan
Name of the Journal: Labour File
Volume & Issue: 2 , 1
Year of Publication: 2004
Month of Publication: January - February
Page numbers in Printed version: Labour File, Vol.2-No.1, Labour in 2003 (Labour News - Special Tea Term Loan - pp 74)
Weblink : https://www.labourfile.com:443/section-detail.php?aid=80

Keywords

tea

Current Labour News

Recent Issues

Vol. 9, Issue 2

Previous Issues

Vol. 8, Issue 3
Vol. 6, Issue 6
Vol. 6, Issue 5

Post Your Comments

Comments

No Comment Found