Amaravati: The Andhra Pradesh government has allocated Rs.326 crore for subsidised loans to minorities for their economic upliftment. The scheme will benefit 49,218 beneficiaries across the state.
Minorities welfare and law minister N. Md. Farooq said the government has allocated Rs.326 crore for financial year 2024-25. The state government is providing 50 percent subsidy or Rs.152.50 crore. Banks will provide the remaining 50 percent funds.
For skill development and employment, an additional Rs.21.07 crore will be spent.
The programme is expected to benefit 49,218 individuals, including 19,790 through bank-linked subsidy loans and 29,428 via skill training programmes.
He said a Government Order has been issued granting administrative approval for Rs.152.50 crore for subsidised loans to minorities. The remaining 50 percent will be provided to beneficiaries through banks.
The minister said that loans will be categorised based on business plans, ranging from Rs.1 lakh for small enterprises like grocery shops and poultry to Rs.8 lakhs for larger ventures such as fitness centres and generic medicine shops. Additionally, 25,000 individuals, including 3,428 women, will receive skill development training in tailoring, beauty, and fashion design.
The Minorities Welfare Department has initiated steps to identify eligible candidates at the field level.
He claimed that the coalition government headed by Chandrababu Naidu is sincere in welfare and development of minorities. The government is committed to fulfilling promises to minority communities and boosting the state’s economy, he said.
Meanwhile, State Wakf Board Chairman and TDP Nellore Parliament president Shaik Abdul Aziz said that the government has issued a GO releasing Rs.152.50 crore of its share towards subsidised loan scheme. Loans from Rs.1 lakh to Rs 8 lakh would be provided based on the trades.
Trades like general merchants, gold business, chicken and mutton stalls, fruits and vegetable outlets, spare parts shops, battery servicing, cell phone repair, beauty parlours and fashion designing, etc. would be considered under the two schemes. In every scheme it is proposed to provide 40 percent loans to women. The Wakf Board Chairman has appealed to the people to avail the opportunity.
