The beneficiaries would be offered subsidy of up to 35 percent of loan settlement amount, the notification said.

The scheme would benefit owners of trucks, barges and mining equipment, who were left in the lurch when iron ore extraction was halted following a Supreme Court order. The ban was revoked earlier this year.
   
Under the scheme, the 35 percent subsidy will be given on the one-time settlement (OTS) amount.

The subsidy would be capped at Rs 15 lakh for truck owners, Rs 25 lakh for mining machinery owners and Rs 35 lakh for barge owners.

Accroding to the government, the scheme would put a financial burden of Rs 330 crore on the exchequer, and will benefit about 8,000 people.

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