₹326 crores allocated for minority self-employment and skill training: Minister
Vijayawada: Minority welfare minister, N. Md Farooq, announced that the state government has allocated ₹326 crores for the financial year 2024-25 to uplift minority communities through self-employment and skill training initiatives. Under this scheme, ₹152.50 crores will be provided as subsidy loans, covering 50 per cent of financial support, while local banks will contribute the remaining amount. The programme is expected to benefit 49,218 individuals, including 19,790 through bank-linked subsidy loans and 29,428 via skill training programmes, said the minister adding that loans will be categorised based on business plans, ranging from ₹1 lakh for small enterprises like grocery shops and poultry to ₹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 minister emphasised that the government, under Chief Minister Nara Chandrababu Naidu's leadership, is committed to fulfilling promises to minority communities and boosting the state’s economy.
Vijayawada: Minority welfare minister, N. Md Farooq, announced that the state government has allocated ₹326 crores for the financial year 2024-25 to uplift minority communities through self-employment and skill training initiatives.
Under this scheme, ₹152.50 crores will be provided as subsidy loans, covering 50 per cent of financial support, while local banks will contribute the remaining amount. The programme is expected to benefit 49,218 individuals, including 19,790 through bank-linked subsidy loans and 29,428 via skill training programmes, said the minister adding that loans will be categorised based on business plans, ranging from ₹1 lakh for small enterprises like grocery shops and poultry to ₹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 minister emphasised that the government, under Chief Minister Nara Chandrababu Naidu's leadership, is committed to fulfilling promises to minority communities and boosting the state’s economy.
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