'Haryana Govt to bear 3 month interest on Education Loans': CM Manohar Lal Khattar

Chief Minister of Haryana Manohar Lal Khattar on Wednesday declared that the state government will bear the three-month interest on education loans taken by students in the state. As many as 36,000 students will benefit from the move as the state will pay an estimated Rs 40 crore for the same, the CM said in his televised address.

“Haryana government will pay the interest of three months of all those students who are completing their education this year or who have already completed their education in the previous year, but have not been able to start their jobs or business due to this coronavirus pandemic. As many as 36,000 students will be benefitted", CM Khattar announced at his address.

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The Chief Minister also said that the state government will bear 2 per cent of the total interest on loans of up to Rs 50,000 under the 'Shishu Yojana' of the Centre's Mudra Loan Scheme.

“They will not be required to give any type of collateral for this loan. Under this scheme, loan will be provided to 5 lakh people in the state,” Khattar said in an official statement.

The state government will also provide loans up to Rs 15,000 to three lakh poor people for starting their own small businesses at nominal 2 per cent rate of interest. These loans will be provided under the Differential Rate of Interest (DRI) scheme, in which banks charge four percent interest. Of this, two percent interest will be borne by the state government, he said. 

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Khattar further asserted that the state government's revenue has been drastically affected due to Coronavirus as economic activity has been limited for the last three months. 

“Due to the COVID-19 pandemic, economic activity has been limited for the last three months. As a result, not only the family incomes have been affected but the government''s revenue has also come down drastically,” Khattar said.

The Chief Minister said the government was determined that in this crisis not even a single person should remain deprived of food.

“Daily needs of families will not suffer due to lack of family income. With this resolve in mind, financial assistance of Rs 636 crore has been provided to 15,09,108 families in the last three months in Haryana. This amount has been directly transferred to the bank accounts of the beneficiaries,” he said.

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(With agency inputs)