Construction Industry News
Water Alliance India, Ion Exchange Limited, Swach Environment Private Limited, Nangloi Water Services Private Limited, industry associations and other companies dealing with water management services have appealed to the Government of India to include water and waste water sectors in Emergency Credi.
The water sector in India is under severe financial stress due to the Covid 19 pandemic with various drinking water and sanitation projects suffering immensely on account of restrictions imposed on activities, lack of manpower, credit crunch and shortage of raw material. With no financial support in.
Commenting on the issue, Sourav Daspatnaik, Managing Trustee, Water Alliance India said: “It is a matter of great concern that Water, Waste Water and Sanitation sectors which have been at the forefront of the Covid-19 crisis are not considered in the eligible sectors. Just like power and electricity.
The Government of India in response to the crisis caused by the COVID-19 pandemic, announced an Emergency Credit Line Guarantee Scheme (ECLGS). Under the Scheme, the Government undertook to guarantee additional facilities provided by lending institutions to their existing borrowers. The same was further revised as ECLGS 2.0 wherein the Government guaranteed additional lending to the 27 sectors including the 26 sectors defined by the committee headed by Shri KV Kamath and the Health sector. Later, hospitality, travel and tourism, leisure and sporting sectors were included in the list of eligibl.
However, the water infrastructure players have not been able to avail this scheme in the absence of the water sector being listed in the 26 sectors defined by the KV Kamath Committee. The loans under ECLGS can be sanctioned only up to 30 September 2021 and disbursed up to 31 December 2021.
Shantanu Mitra, CEO, Nangloi Water Services Private Limited also commented, “Capital construction work is a significant part of several drinking water and waste water management projects. Since the construction sector has already been identified in the list of 26 sectors by the KV Kamath Committee.
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