New Scheme launched by Uttarakhand Government to provide loans to migrant workers

New Scheme launched by Uttarakhan government to proide loans to migrant workers

The Uttarakhand Government propelled a scheme to supply credits to the migrant workers amidst coronavirus pandemic. Those who are returning to the state will be qualified to apply for the loans. As per the scheme, the migrants returning to the state for self-employment by the state government would be eligible for the loans.

About the Scheme

Under the Mukhya Mantri Swarojgar Yojana Approach, workers will be eligible for loan procurement. It will be for ventures worth Rs 25 lakh in the manufacturing and Rs 10 lakh in the service segment. An individual must be at least 18 years of age to be able to apply for the scheme. Under the scheme, the candidate or his family member will receive grant just once.

Uttarakhand Government provide loans to migrant wokers

As per the scheme, the MSME segment will provide the margin cash as a grant to the migrant workers. As per the MSME approach, the greatest limit for margin cash in category A will be 25% of the full project cost. 20% in category B, and 15% for ventures of the whole venture cost in C and D category. Margin cash will be balanced as a grant after the effective operation of the undertaking for at least two years.

The project points at giving self-employment openings to youth. It will give a boost to turn around relocation, particularly business visionaries returning to Uttarakhand. Also, to energize talented and untalented artisans, handicrafts and unemployed adolescents to begin their own business.

The scheme will offer credit facilities through nationalized banks, planned commercial banks, and cooperative banks.

Statements by Uttarakhand Government Officials

“This scheme should be widely publicized through public representatives and district level officers so that the maximum number of villagers can take advantage of it. Under this scheme, the district magistrate should coordinate with the bankers so that the beneficiaries do not have any problem in taking loans,” said Uttarakhand Chief Minister Trivendra Rawat.

The authorities must spread the information relating to this scheme for the public awareness. Thus, the scheme will provide aid to the youth and people. The migrants who apply under this program will get speedy approval from the authorities concerned.

Also, the bank will approve their applications with a quick endowment. It will be 25% in the hill areas and 15% in the plain districts.

“We have been suggesting to the government to start a similar programme in the hilly areas since last one year. And now when they have finally done it, we believe it will really fly off. People there are running their own gymnasiums, beauty parlours, dhabas, mobile repairing shops and others.

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Now when there is another similar programme by the state, people will definitely avail this also,” said SS Negi,Vice Chancellor, State Rural Development and Migration Commission.

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