517 beneficiaries selected for state's flagship programme: Mizoram CM

Aizawl, Mar 28 (PTI) Mizoram Chief Minister Lalduhoma on Friday said that 517 progress partners (beneficiaries) have been selected to avail assistance under the state's flagship programme 'Bana Kaih' (Handholding) scheme for the first phase (pilot project).

Handing over prizes to winners of Chief Minister's Bana Kaih Innovation Challenge in a function held in Aizawl, Lalduhoma said that the primary objective of the state government is to assist hard-working and determined farmers, entrepreneurs and other individuals or societies through the Bana Kaih scheme so that they have sustainable livelihoods or employments.

He said that 517 people, who are called 'progress partners' have been selected to avail assistance under the flagship programme for the first phase (pilot project).

Lalduhoma also said that steps are being taken to provide Rs 1 lakh monetary assistance to progress partners under the Chief Minister's special package of the Bana Kaih scheme.

The Bana Kaih scheme was launched in September last year to provide financial assistance and support primarily to entrepreneurs and farmers (progress partners) across the state through a series of targeted programmes designed to promote economic growth and self-sufficiency.

The programme will be implemented in convergence with various schemes and initiatives of the central government, according to officials.

The initiative aligns with the national vision of a 'viksit Bharat' (Developed India) and contributes to the United Nations Sustainable Development Goals (SDGs).

It is an innovative approach to address the issue of institutional credit availability, particularly microcredit, for both agriculture and small industrial endeavours.

One of the key components of the scheme is handholding to progress partners(beneficiaries), under which the government will provide financial support and offer loans up to Rs 50 lakh to beneficiaries through partner banks.

The government will serve as guarantor for these project loans under existing national credit guarantee schemes and beneficiaries, who timely or regularly repay their loans will be provided interest subvention of up to 100 per cent.

The scheme also includes the Chief Minister's Special Category Scheme, which provides grant-in-aid of up to Rs 1 lakh for beneficiaries who are not in a position to avail loans but have significant livelihood projects.The state government has allocated Rs 350 crore for the implementation of the Bana Kaih scheme for the 2025-26 fiscal. PTI CORR RG

Source: PTI