The Odisha government decided on Monday to offer interest-free loans up to Rs 1 lakh to 2 lakh to the state’s youth and to give all ration card holders a one-time assistance of Rs 1,000 ahead of the Lok Sabha and assembly elections.
Following the meeting, state Food Supplies and Consumer Welfare Minister Atanu Sabyasachi Nayak told reporters that the cabinet of Chief Minister Naveen Patnaik had approved 26 proposals, one of which was to distribute Rs 1,000 in livelihood assistance to 95.90 lakh PDS beneficiary families.
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The minister explained that the one-time aid would be given because families who receive benefits from the public distribution system (PDS) find it difficult to obtain various goods for consumption because of the increase in market prices.
According to Nayak, the government has also decided to give two jute bags, each with a capacity of 10 kg and 20 kg, to every PDS family for daily use at no cost. The total amount of funds needed for the procurement and distribution of these bags is expected to be Rs 278.69 crore.
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Similarly, the minister stated that an additional Rs 959.05 crore will be needed to provide families with one-time livelihood assistance of Rs 1,000. The state budget will pay for a total of Rs 1,237.74 crore.
He said that 1 lakh eligible rural and an equal number of urban youths in the 18–35 age range will receive interest-free loans of up to Rs 1 lakh for starting a new business or growing an existing one under the new government scheme called “Swayam” to promote self-employment for youth.
The state will spend Rs 672 crore on the programme over its two-year operational period.
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According to him, the loan will have no processing fees or collateral requirements, and its four-year repayment term will include a three- to six-month moratorium period as stipulated by the financial institution in question.
The Mukhyamantri Maschyajibi Kalyan Yojana (MMKY), an umbrella programme with a total budget outlay of nearly Rs 448 crore that will be implemented during the 2023–24 fiscal year, was also approved by the state cabinet.
Chief Secretary Pradeep Kumar Jena stated that the program intends to support 50,000 fishermen, directly and indirectly, including 11,000 women SHG members and over 1 lakh fishermen.
