Chandigarh-The Punjab authorities, beneath the management of Chief Minister Bhagwant Singh Mann, is constantly working to uplift the financial standing of the backward lessons. In the yr 2023-24, the Punjab authorities has disbursed Rs. 25 crore to resolve NMDFC’s excellent liabilities.
Dr. Baljit Kaur, Minister of Social Justice Empowerment and Minorities, acknowledged that the Punjab Backward Classes Land Development and Finance Corporation (BACFINCO) provides loans at low-interest charges for self-employment initiatives.
Cabinet Minister talked about that, because of the mounting liabilities of the National Corporation (NMDFC) since 2017, no time period loans have been launched since yr 2017-18. She additionally famous that earlier Government didn’t allocate any funds to clear these liabilities. In the yr 2023-24 funds, the Punjab authorities has allotted Rs. 25 crore to settle NMDFC’s excellent dues. The approval for disbursing this quantity was granted by the Punjab authorities on September 29, 2023.
Dr. Baljit Kaur defined that via Backfinco, people from Minorities communities in Punjab can launch self-employment ventures in numerous fields reminiscent of dairy farming, poultry farming, beekeeping, magnificence parlours, tailoring, normal shops, electrical gross sales and repairs and extra. Loans of as much as Rs. 5 lakh shall be supplied at an annual rate of interest of 6-8 p.c. Additionally, beneath the Education Loan Scheme for Minorities college students, loans of as much as Rs. 20.00 lakhs for home training and as much as Rs. 30.00 lakhs for abroad training in skilled/technical fields, commencement and additional research shall be provided at an rate of interest of 3-8 p.c each year.
She talked about that Backfinco, with the assist of NMDFC, is devoted to the welfare of minorities in Punjab.
Minister additional acknowledged that consciousness camps may even be organized to make sure that as many people from the Minorities class as doable can profit from this scheme.