Govt explores possibility of raising bonds for SSIs

BANGALORE: The state government is exploring the possibility of raising bonds to bail out sick small scale industries (SSI) in the state, Chief Minister S M Krishna told the Legislative Council on Wednesday.
"Bonds can provide possible relief to SSIs. The government is yet to release the subsidy amounts and we are trying to explore various other possibilities to help these units.The Karnataka State Finance Corporation (KSFC), which has extended loans, is also on the sick bed," he said, replying to a debate on supplementary estimates for 2003-2004.
The government is committed to waive the interest amounting to Rs 115 crore on farmers loans and also releasing Rs 165 crore for insurance of farmers.
Krishna said the state government had petitioned the centre for additional allocation of food grain of three lakh tonne for drought relief and was awaiting the Centre''s response.