Mizoram Chief Minister Pu Lalduhoma Launches ‘Handholding Scheme’
Introduction of the Scheme
On Thursday, Mizoram Chief Minister Pu Lalduhoma launched the ‘Handholding Scheme’ (Bana Kaih) at Vanapa Hall in Aizawl. This initiative aims to support entrepreneurs and farmers, promoting economic growth and self-sufficiency.
Key Features
The scheme includes five main components:
- Collateral-free and interest-free bank loans up to Rs 50 lakh, with the state government as guarantor.
- Interest subvention of up to 100% for beneficiaries who repay their loans consistently.
- Chief Minister’s Special Category Scheme, offering a grant-in-aid of up to Rs 1 lakh for those unable to secure loans.
- Minimum Support Price (MSP) for Ginger, Broom, Turmeric, and Mizo Birdeye Chilli.
- Pilot phase procurement of paddy at Rs 30 per kilogram in Kolasib and Mamit districts.
Implementation
The scheme will be implemented as a pilot phase for this financial year, focusing on providing financial assistance and market support to boost the livelihoods of entrepreneurs and farmers in Mizoram.
Doubts Revealed
Mizoram -: Mizoram is a state in the northeastern part of India. It is known for its beautiful hills and forests.
Chief Minister -: A Chief Minister is the head of the government in an Indian state. They make important decisions for the state.
Pu Lalduhoma -: Pu Lalduhoma is the current Chief Minister of Mizoram. ‘Pu’ is a respectful title used in Mizoram.
Handholding Scheme -: The ‘Handholding Scheme’ is a new program to help people who start businesses (entrepreneurs) and farmers by giving them money without needing to pay interest or provide something valuable as a guarantee.
Entrepreneurs -: Entrepreneurs are people who start and run their own businesses. They come up with new ideas and try to make them successful.
Farmers -: Farmers are people who grow crops and raise animals for food and other products.
Aizawl -: Aizawl is the capital city of Mizoram. It is where the government offices and many people live.
Collateral-free -: Collateral-free means you don’t need to give something valuable, like property or gold, to get a loan.
Interest-free -: Interest-free means you don’t have to pay extra money (interest) on the loan you take.
Rs 50 lakh -: Rs 50 lakh is a large amount of money in Indian currency, equal to 5 million rupees.
Guarantor -: A guarantor is someone who promises to pay back a loan if the person who took the loan can’t pay it back.
Grant-in-aid -: Grant-in-aid is money given by the government to help people, which they don’t have to pay back.
Minimum Support Price -: Minimum Support Price is the lowest price the government promises to pay farmers for their crops to make sure they earn enough money.
Paddy -: Paddy is a type of rice that is grown in fields. It is a common crop in India.
Kolasib and Mamit -: Kolasib and Mamit are districts in Mizoram where the government will start buying paddy at a set price.