Uttarakhand launches scheme to give loans to migrants returning for self-employment

Uttarakhand Chief Minister Trivendra Singh Rawat launched a scheme on Thursday under which loans will be given to the migrants returning to the state in the wake of the coronavirus pandemic for self-employment.

Loans will be given to the eligible applicants under the Mukhya Mantri Swarojgar Yojana for projects worth Rs 25 lakh in the manufacturing sector and Rs 10 lakh in the service sector.

After launching the scheme at the state secretariat here, Rawat asked officials to inform every village about it and coordinate with the banks to ensure that the beneficiaries do not face any problem in getting the loans.

He said the scheme will prove to be useful in the state government's efforts towards reverse migration.

The loans under the scheme will be provided by nationalised banks, scheduled commercial banks and co-operative banks, the chief minister said. The MSME department will offer the margin money as grant.

According to the MSME policy, the upper limit for margin money in category A will be 25 per cent of the total cost of the project, 20 per cent in category B and 15 per cent in categories C and D. Educational qualification is not a criterion for the applicants, who should be at least 18 years of age.

(Photo Credit: PTI)