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SIDBI to facilitate loans to Ayush Ministry Scheme for Medical Value Travel in ISM
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Nandita Vijay, Bengaluru
April 15 , 2021
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The Ayush Ministry Champion Services Sector Scheme for Medical Value Travel in Traditional System of Medicine will spur capacity building and employment generation. This will give boost to potential investors to capitalize the opportunity.
Government will provide an interest subsidy and for that SIDBI will be roped in for the facilitation of easy loans through identified public sector banks to the investors.
The government is bullish about this scheme which is to enable the Greenfield project for world class, state-of-the-art super speciality hospitals/day care centres of the systems. There is an interest subsidy provided for the project to investors. After the initial support from the Ministry though an interest subsidy component, not exceeding 5 years, Ayush hospitals and day care centres will become independent to function and raise their own resources to meet the establishment expenses. The scheme is valid upto March 31, 2023 after approval of the competent authority.
The government has provided admissibility of interest subsidy versus investment made by the Investor. For instance 20 facilities of 50- bedded hospitals at total estimated upper cap construction including equipment and machinery as per scheme guidelines is Rs 50 crore. The contribution to made by the investor is Rs. 16.66 crore. Actual loan to be considered for interest subsidy will be Rs.33.33 crore. Maximum interest subsidy admissible as per scheme guidelines will be Rs 8.15 crore.
Since the documentation/record and focus on traditional system of medicine has been marginal or minimal till now. The initiative would not only promote and propagate Ayurveda, Yoga & other Traditional systems of medicine but will increase footfall of international patients and tourists which in turn generates foreign exchange, noted the government.
Further it will also accelerate nationwide authentic data generation in Ayurveda, Yoga & other Traditional systems of medicine sector.
The hospitals/day care centres would be offering quality healthcare services through Ayush systems of medicine. The objective of the scheme is to encourage private investors into the Ayush sector.
The stakeholders establishing such facilities in the later or last stage which is the 2nd and 3rd year, then the financial assistance or interest subsidy component only would be provided as committed liability as through the total kitty allocated to the Ministry under the Champion Services Sector Scheme.
The scheme is operational for 50 and 10 bedded hospitals and Day-care Centres having good connectivity by road, railways, air and waterways. The investors can construct Hospital/Day Care Centre above 50 bedded at their own cost. However, the Government will consider the payment of interest subsidy on actual loan raised by the investor subject to the 50 and 10 bedded limit only. Interest subsidy will be provided for construction of the hospital building and purchasing of equipments and machinery only.
The quantum of financial support to be provided under this Scheme as interest subsidy component will be in 100% in the first year, 70% in the 2nd year, 50% in the 3rd year, 40% in the 4th year and 20% in the 5th year.
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