PUNJAB GOVERNMENT HAS RELEASED AN AMOUNT OF ONE CRORE RUPEES TO GIVE LOANS TO THE BACKWARD CLASSES: DR. BALJIT KAUR

Punjabenews: The Punjab Government has released an amount of one crore rupees for the year 2022-23 for giving loans at low interest rates under self-employment schemes for the welfare of the backward classes, minorities and economically weaker sections of the state. This amount has been released once during the last 5 years.

Divulging in this regard, Social Justice, Empowerment and Minorities Minister Dr.Baljit Kaur said that the Punjab government has released an amount of One crore rupees as part of taking a term loan from NBCFDC to provide loans to the economically weaker sections of the backward classes under self-employment schemes. Under this scheme, Rastri Corporation NBCFDC will distribute loans of Rs. 9.50 crore to the backward class people of Punjab state by combining the sum of Rs. 8.50 crore. Awareness camps will also be organized at the district level by the Corporation to provide information regarding the distribution of loans to the eligible persons so that the eligible persons can get the maximum benefit of this scheme and start self-employment.

The Cabinet Minister said that Bankfinco provides loans of up to Rs. 5 lakh in easy installments at 6% annual interest rate to the backward category applicants to start their employment.
Dr. Baljit Kaur said that the applicant should be a permanent citizen of Punjab state and his age should be between 18 to 55 years. Along with this, the applicant should belong to the backward category declared by the Punjab government. Applicants belonging to backward classes who wish to take loan should have an annual family income of up to three lakh rupees.

The Minister further said that this loan is provided for dairy farming, poultry farming, vegetable growing, beekeeping, carpentry, furniture, blacksmith work, flour mill, kohlu, auto rickshaw (passenger, haulage), general store (grocery, cattle feed, Poultry feed), hardware stores (mantery and building material iron etc.)
Apart from this, these loans are available for clothing, readymade garment shop, books, stationery shop, bicycle sale and repair, photostat machine, tailoring, agricultural implements (fabrication), auto mobile repair, spare parts shop, electronics, electrical sale, repair , Fabrication Unit, Photography, Videography, Hosiery Unit, Small Scale Industrial Unit (Any Goods Manufacturing Business), Sweat Shop, Dhaba, Beauty Parlour are also provided.