Jobless Scheduled Caste youth get funds after 2-year wait

Mahbubnagar: With state government allocated subsidies worth of Rs. 2.68 crore for various self employment schemes under Scheduled Caste Corporation as many as 128 unemployed youth who had applied for various self employment programmes from Mahabubnagar district have been benefited.

However, the only complaint that these beneficiaries have is the delayed process where in they had to wait for more than 2 years for availing these benefits.  “Even though the government is coming with good initiatives to help and support the unemployed youth to becom selfemployed but the delayed process by the SC Corporation and laborious and tedious terms and conditions set by the bankers is making tough for the people.

And waiting for more than two long years to avail the self employment is also not augured well by many,” says Venkateshwar, an applicant of the self employment scheme under SC Corporation. 

However, after a long wait, the beneficiaries are expressing happiness that at least now the SC corporation authorities have finally sanctioned the subsidy for the beneficiaries belonging to 2016-17 financial year. 

According to SC Corporation officials, there have been 128 applications received online under various self employment programmes. Of them a few have been rejected due to lack of sufficient documents and few were rejected due to late submission.

“Overall the State government had sanctioned Rs. 2.68 crore towards the subsidy schemes in Mahabubnagar. Of this Rs. 1.79 crore was already been released to different banks and accordingly the beneficiaries have got their loans disbursed,” informed Burgu Ashok Babu, executive director of SC Corporation, Mahabubnagar district. 

While the government is extending a financial aid of Rs. 2.68 crore as subsidy for the unemployed youth under various self employment schemes, on the other hand, the banks will give a loan of Rs. 88 lakhs to the beneficiaries.

This loan amount offered by the banks will have to be repaid by the beneficiaries in the form of EMIs, while the amount sanctioned by the government will be treated as financial subsidy and the candidates need not repay it to the government. 

With the disbursal of subsidy and loans for the 2016-17 financial year, now the SC Corporation has set a target of grounding as many as 1431 units for the financial year 2017-18 and have already gained permission from the government to ground 1189 units with a total budget of Rs. 24.84 crore.