The state government has proposed INR 200 crore under the 'Mukhyamantri Vidyarthi Protsahan Yojna' which aims to provide underprivileged children (families having an income of less than INR 3 lakh per annum) with education loans through financial institutions or banks at interest rate of one per cent.
Himachal Pradesh government is all set to introduce a scheme to provide an education loan at one percent to students coming from economically weaker backgrounds. According to the announcement made by HP Chief Minister Sukhvinder Singh Sukhu, students from financially weaker backgrounds will get an education loan at one percent to support them pursue higher and professional studies. The scheme will be launched in the current financial year.
The state government has proposed INR 200 crore under the 'Mukhyamantri Vidyarthi Protsahan Yojna' which aims to provide underprivileged children (families having an income of less than INR 3 lakh per annum) with education loans through financial institutions or banks at interest rate of one per cent, he said in a statement. The loan will help the students cover the charges of tuition, accommodation, books, and other allied expenses associated with their education, it said.
The scheme covers a wide range of professional courses, including engineering, medical, management, PhD courses from ITIs, Polytechnic, B Pharmacy, nursing, General Nursing and Midwifery (GNM), among others. "The main objective of the scheme is to ensure that no poor child in the state is deprived of higher and professional education for want of financial resources," the statement stated.
In order to help students achieve their targets and fulfill their goals, the government has decided to introduce one per cent interest rate, Sukhu said. The minister also informed that 20,000 meritorious girl students, above 18 years of age, studying in government institutions, will get a subsidy of INR 25,000. The amount will be provided to purchase electric scooties. The government visions that the move will not only encourage the girl students to pursue higher education, but also help to develop Himachal Pradesh as a "green state".
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