Panaji: Trinamool Congress Party and Maharashtrawadi Gomantak Party alliance on Sundy launched its pre-poll promise of ‘yuva shakti card’ providing credit facility of Rs 20 lakh for youth.
TMC leaders Churchill Alemao, Aleixo Reginaldo Lourenco and Kiran Kandolkar along with MGP leader Sudin Dhavalikar launched the scheme named ‘Yuva Shakti Card’ in Panaji.
TMC leader Yatish Naik said that the card will provide Rs 20 lakh credit facility for the youth with four per cent per annum interest on it. He said that those who want to avail the scheme will not have to provide any collataral to the bank as government will be a guarantor.
He stated that the scheme would be implemented once TMC-MGP government come to power in the state. “This scheme will help the youth to be gainfully employed or start their business,” Naik said adding that the youth can avail up to Rs 20 lakh.
Naik said that the State government will tie up with financial institutions and the difference between actual interest rate and four percent would be borne by the State government.
“It will help youth for skill oriented learning, start up or upgrading business,” he said. Naik said that it is applicable to anybody who is between 18 to 45 years of age, irrespective of his annual incoms
He said that annual burden on State government due to this scheme is to the tune of Rs 350 crore to Rs 1,100 crore which is between 1.5 to 4 per cent, which is “not something unachievable.”