Setting aside Rs 24 crores, Punjab Government has set a target of providing job related loans to as many 6,400 youth belonging to the Scheduled Caste (SC) category under various welfare schemes.
Announcing this, the state's Scheduled Castes, Backward Classes and Minority Welfare Minister Sadhu Singh Dharamsot on Sunday said that during the current year 2018-2019, a provision of Rs 24 crore has been made for the purpose.
The aim of these schemes is to provide financial assistance to the SC youth for augmenting their income so as to make them self dependent, said the Minister.
Giving a clarion call to youth hailing from the SC category to derive benefit from the welfare centric schemes for commencing their own ventures, Dharamsot said that the direct loan scheme, bank tie-up scheme, self-employment scheme for rehabilitation of manual scavengers are being run with the assistance of Punjab Scheduled Castes land Development and Finance Corporation apart from various other loan schemes being run with the aid of National Scheduled Castes Finance and Development Corporation (NSFDC), National Safai Karamcharis Finance & Development Corporation (NSKFDC) and National Handicapped Finance and Development Corporation (NHFDC).
He also said that these schemes are being run by the Central Government and the State Government with the capital in the proportion of 49:51.
Dharamsot said that under the direct loan scheme, those SC youth would be eligible for availing loans whose family income would not exceed Rs one lakh annually.
As per the NSFDC scheme, the limit of Rs three lakh annually has been set for SC youth from rural and urban areas whereas there is no such limit for the youth availing loan under NSKFDC.
He also said that under NHFDC schemes too, no such limit has been fixed but in 90 percent cases, the income must be less than Rs five lakh annually.
Dharamsot said that the Corporation has chalked out a proposed programme for the year 2018-19 with number of beneficiaries being 6400, share capital Rs 10.63 crore, subsidy Rs five crore, NSFDC loan Rs 6.75 crore, NSKFDC loan Rs 1.80 crore, NHFDC loan Rs 2.70 crore and bank loan Rs 12.50 crore.
He added that during the year 2017-18, 371 beneficiaries were disbursed the loan amount of Rs 5.61 crore for starting their own venture.