Uttarakhand CM Pushkar Singh Dhami Praises PM Modi’s PM Vidyalakshmi Scheme
In Dehradun, Uttarakhand Chief Minister Pushkar Singh Dhami expressed gratitude to Prime Minister Narendra Modi for approving the PM Vidyalakshmi scheme. He described it as a revolutionary step in education, ensuring a bright future for poor and talented students. The scheme allows students to apply for education loans up to Rs 10 lakh at low interest rates, removing financial barriers to higher education.
Key Features of the PM Vidyalakshmi Scheme
Union Information Minister Ashwini Vaishnaw announced that the loans are collateral-free and guarantor-free, benefiting up to one lakh students annually. Students with a family income up to Rs 8 lakh receive a three per cent interest subsidy on loans up to Rs 10 lakh, while those with income up to Rs 4.5 lakh get a full interest subsidy.
Eligibility and Application Process
The scheme ensures no deserving student is denied education due to financial constraints. The Department of Higher Education will list top institutions eligible for the scheme. Loan applications will be managed through the PM Vidyalakshmi portal, with loans up to Rs 7.5 lakh covered by a 75 per cent credit guarantee.
Doubts Revealed
Uttarakhand -: Uttarakhand is a state in northern India, known for its beautiful mountains and pilgrimage sites.
CM -: CM stands for Chief Minister, who is the head of the government in an Indian state.
Pushkar Singh Dhami -: Pushkar Singh Dhami is the Chief Minister of Uttarakhand, a state in India.
PM Modi -: PM Modi refers to Narendra Modi, who is the Prime Minister of India.
PM Vidyalakshmi Scheme -: The PM Vidyalakshmi Scheme is a government program in India that provides education loans to students without needing collateral or a guarantor.
Collateral-free -: Collateral-free means you don’t need to give something valuable as a security to get a loan.
Guarantor-free -: Guarantor-free means you don’t need someone else to promise to pay back the loan if you can’t.
Interest subsidy -: Interest subsidy is when the government helps pay part of the interest on a loan, making it cheaper for the borrower.
