To further uplift the economic status of the youth of the Economically Weaker Section (EWS), the Punjab Government has decided to disburse loan worth Rs. 491.26 lakh to 289 youths at low interest rates for self employment.
Disclosing this here today, Social Justice, Empowerment and Minorities Minister Mr. Sadhu Singh Dharmsot said that Punjab Backward Castes Land Development and Finance Corporation have set a target to distribute loan to 751 youth of EWS in tune of Rs. 1127.75 lakh during the year 2020-2021. He said that 279 youths have been provided Rs. 474.46 lakh as loan on low interest rate till date, and the process to provide this monetary assistance to others is underway. Loans worth Rs. 16.80 Lakh have been provided to 10 youngsters of EWS for self-employment at low interest rate, the Minister added.
The Social Justice Minister said that the Punjab Government has handed over a loan in tune of Rs. 2436.74 lakh to 1459 poor BC, Minorities & EWS youths of the state during the last 4 years. These youngsters have already started their businesses and earning livelihood for them and their families.
Divulging about the efforts to seamless the process of loan disbursement, he said that the district level screening committee has also been revised to make the loan process easier.
Mr. Dharmsot said that the main objective of BC Corporation is to provide loan on low interest rate to Backward Castes and Persons with Disabilities (PwDs) for self-employment to set up dairy farms, grocery shops, shuttering work, timber trade and higher education loans to further boost up their financial position.