Odisha to provide interest-free loans to 2 lakh youths | Latest News India - Hindustan Times

Odisha to distribute 1,000 to ration card holders, provide interest-free loans to 2 lakh youths

Feb 12, 2024 11:28 PM IST

The government also decided to provide two jute bags of 20 kg and 10 kg capacity to each of the PDS families for their daily use, free of cost.

Ahead of the Lok Sabha and assembly elections, the Odisha government on Monday decided to distribute 1,000 one-time assistance to all ration card holders and provide interest-free loans up to 1 lakh to 2 lakh youths of the state.

Odisha chief minister Naveen Patnaik(File photo)
Odisha chief minister Naveen Patnaik(File photo)

The cabinet of Chief Minister Naveen Patnaik approved a total of 26 proposals, including the distribution of 1,000 livelihood assistance to 95.90 lakh PDS beneficiary families, state Food Supplies and Consumer Welfare Minister Atanu Sabyasachi Nayak told reporters after the cabinet meeting.

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The minister said that the public distribution system (PDS) beneficiary families face hardship in fetching different items for consumption due to the rise in market prices, which is why the one-time assistance would be provided.

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The government also decided to provide two jute bags of 20 kg and 10 kg capacity to each of the PDS families for their daily use, free of cost, Nayak said, adding that the fund requirement for procurement and distribution of the jute bags will amount to 278.69 crore.

Similarly, for providing one-time livelihood assistance of 1,000 per family, the minister said another 959.05 crore will be required. A total of 1,237.74 crore will be borne out of the state budget.

He said under the new government scheme 'Swayam' to create self-employment for youth, 1 lakh eligible rural and an equal number of urban youths in the age group of 18-35 years will receive interest-free loans of up to 1 lakh for starting a new business or expanding an existing one.

The scheme will be operational for two years and 672 crore will be spent from the state's coffers.

There will be no collateral or processing fee for this loan and the repayment period will be four years, which includes a moratorium period varying from 3 to 6 months as prescribed by the financial institution concerned, he said.

The state cabinet also approved the umbrella scheme Mukhyamantri Maschyajibi Kalyan Yojana (MMKY), which will be implemented during the 2023-24 fiscal with a total budget outlay of nearly 448 crore.

This scheme aims at providing livelihood benefits to 50,000 fishermen, including 11,000 women SHG members directly, and more than 1 lakh fishermen indirectly, Chief Secretary Pradeep Kumar Jena said.

Unveiling 'Elections 2024: The Big Picture', a fresh segment in HT's talk show 'The Interview with Kumkum Chadha', where leaders across the political spectrum discuss the upcoming general elections. Watch Now!

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