Income limit for minorities, divyangs to avail of loan hiked

To aid minorities and ‘Divyangjans’ to establish their start-ups and promote self-employment, the Himachal Pradesh Minority Finance and Development Corporation (HPMFDC) has increased the limit for the minimum family income to Rs 3 lakh annually to avail of loans at concessional rates.

Earlier, this income limit was Rs 98,000 in rural areas and Rs 1.20 lakh in urban areas. The decision in this regard was taken at the 52nd meeting of the Board of Directors of the corporation held under the chairmanship of Health Minister Dhani Ram Shandil.

The minister said that the state government was taking effective steps for the empowerment and uplift of the minorities and divyangjans. He added, “For the welfare of the minorities and divyangs, the government provides several facilities. During 2023-24, loans to the tune of Rs 12.97 crore were granted to the minorities and loans of Rs 5.41 crore were granted to divyangjans through the HPMFDC at concessional interest rates.”

Shandil said that in the current fiscal, targets had been set to add more beneficiaries and provide them loans at concessional rates. He added that special efforts were being made to achieve these targets. The HPMFDC provides loans at subsidised interest rates for small businesses, transport services, shops, parlors and ventures in the fields of agriculture. The members of the minority communities in the age group of 18 to 55 years are granted loan up to Rs 20 lakh at an interest rate of 6 per cent and up to Rs 20 to Rs 30 lakh at the interest rate of 7 per cent. Similarly, divyangs above the age of 16 years are granted loans up to Rs 5 lakh at an interest rate of 6 per cent, up to Rs 10 lakh at an interest rate of 7 per cent and above Rs 10 lakh at an interest rate of 8 per cent. There is a provision of 2 per cent additional interest rebate for divyang women. Apart from this, minorities and divyangs are provided loans at 3 per cent for pursuing courses in technical education.

Shandil said that awareness camps would be organised in the state at regular intervals to spread information regarding various welfare initiatives being taken by the HPMFDC for the benefit of the minorities and divyangs.