CHANDIGARH, SEPTEMBER 12:
The Punjab Government has waived off Rs. 41.48 crore loans of10151 youth belonging to SC Community. This pro-people move by the state government has given a big relief to the SC youth.
Disclosing this Mr. Sadhu Singh Dharmsot, Minister for Social Justice, Empowerment and Minorities informed that the Punjab government led by Captain Amarinder Singh has decided to waive off Rs. 50,000 each from all kinds of loans taken by the youth of the state for self-employment through the Scheduled Castes Development and Finance Corporation.
He said that SC Loans are provided by the Corporation to Scheduled Castes and Persons with Disabilities at low-interest rates to run their self-employment. The recovery rate of taxes provided by the Corporation to the youth of the state at a lower interest rate is about 77%. He said that the youth of the State were finding it difficult to repay the loans taken for self-employment due to failure of trade, death of the beneficiary, no earner at home, and circumstances arising out of Covid-19.
He said it has been decided to provide this loan relief to the youth to get them out of this problem.
Mr. Dharmsot pointed out that the Punjab government had earlier also waived off the loans of 14260 SC youth to the tune of 45.41 crore. He said that the State Government during the last more than 4 years has given loans to the tune of 8202.26 lakh at smaller interest rates to 8662 SCs youth.