Soon, biz loans upto Rs 5L for SC/STS, differently-abled

The funds for the loans will be released through the Delhi SC/ST/OBC/MINORITY and Handicapped Finance and Development Corporation

NEW DELHI: The Delhi government will soon provide loans between Rs 50,000 and Rs 5 lakh to SC/ST and differently-abled residents of the city to fund their own business models.

The fund will be given through the Delhi SC/ST/ Obc/minority and Handicapped Finance and Development Corporation (DSFDC), under the Social Welfare department.

“I think entrepreneurship is the most modern concept of development. Unfortunately, the backward communities of our society fail to take up these opportunities,” said Rajendra Pal Gautam, Delhi Social Welfare minister.

Since taking charge of the Social Welfare department, Gautam said he has focused on promoting development of entrepreneurship among backward communities and minorities.

Earlier, Gautam had also taken help from the Dalit Indian Chamber of Commerce and Industry to turn manual scavengers intro entrepreneurs.

When asked about the implementation of the business loan plan, the minister elaborated, “We are focusing on skill development and we will make skill development centres across the city. This will help these students to start their own business and the government will fund them.”

Gautam also explained that the Delhi government schools for differently-abled students will also focus on skill development programs.

“Education is important, but skill development is the key to bring the differently-abled students into the mainstream of work and we are trying to that,” he said.

Talking to Millennium Post, the minister also said that the government has plans to launch a “loan app” for backward class students, through which they can apply for education loans.

As per Chief Minister Arvind Kejriwal’s directions, the Social Welfare department will also restart a series of welfare schemes, which were so far non-functional, in December.

Officials said that the Department is working towards formulating norms of the business plan.

There will be certain categories where people can apply and also submit their business plans.

Officials will consider the submitted proposals and subsequently decide the funding amount, sources stated.