Chief Minister Employment Generation Scheme: Self-employment in Jharkhand has become easier – न्यूज़लीड India

Chief Minister Employment Generation Scheme: Self-employment in Jharkhand has become easier


Jharkhand

oi-Anjan Kumar Chaudhary

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Published: Monday, September 12, 2022, 6:00 [IST]

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Ranchi: The Chief Minister Employment Generation Scheme being run by the Welfare Department in Jharkhand is very beneficial for the State Scheduled Tribes, Scheduled Castes, Backward Classes, Minorities and Divyangs. Under this scheme, the Jharkhand government would give loans up to Rs 25 lakh, in which subsidy up to 40 percent has also been given. People in the age group of 18 years to 50 years can avail this loan. Under this scheme, the borrowers have to pay only 6 percent annual interest and that too after deducting the subsidy amount.

Self-employment became easier in Jharkhand with the Chief Ministers Employment Generation Scheme.  Millions of youth are getting benefits

Self employment made easier in Jharkhand
To promote self-employment, the Jharkhand government is running the Chief Minister Employment Generation Scheme, which is proving to be very beneficial for lakhs of unemployed people of the state. The benefit of this scheme can be availed by the ST, SC, OBC, minority and disabled people of the state. The biggest feature of this scheme is that if you want a loan of less than 50 thousand rupees, then no guarantor is even required. However, there are many other arrangements in which no guarantor is required and the borrower can repay the loan amount in very easy monthly installments.

Who can become a guarantor?
Under this scheme, a loan of up to Rs 25 lakh can be taken to start your business and the government also gives 40 percent grant in it, which cannot exceed Rs 5 lakh. The benefit of this scheme can be availed by people between 18 years to 50 years. Those who can become guarantors for loans above Rs 50,000 are current or former elected public representatives. Employed or retired government servant, working or retired semi-government employee, employed or retired employee in a private organization or any income tax payer.

Some other important points of the plan
No guarantor is also required for loans related to vehicles and plants and machines. Movable or immovable property equal to the loan amount is also considered as a guarantee. EMI is determined by deducting the subsidy amount. That is, if the loan is Rs 10 lakh and the subsidy is Rs 4 lakh, then EMI and interest will have to be paid only on Rs 6 lakh.

After deducting the subsidy, only the amount left is to be paid interest at the rate of 6% annually. An application can also be made to the District Welfare Officer to take a loan under this scheme.

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english summary

Self-employment became easier in Jharkhand with the Chief Minister’s Employment Generation Scheme. Millions of youth are getting benefits

Story first published: Monday, September 12, 2022, 6:00 [IST]

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