Rent waiver, other relaxations to IT sector.

The Kerala government announced a slew of proposals on Thursday to revive the IT sector which has suffered a crushing blow this financial year due to the COVID-19 situation. Chief Minister Pinarayi Vijayan said the state government will consider reliefs including waiver of rent under certain conditions, avoiding annual increase in rent and other relaxation to the IT companies.

“The IT sector in Kerala has suffered approximately Rs 4,500 crore loss due to COVID-19 situation,during the first three months of this financial year. The state planning board has calculated that at least 80,000 jobs indirectly connected to the IT sector 26,000 jobs directly in this sector will be affected,” Pinarayi said.

The state government will also discuss with the banks to provide loans to struggling companies.