Doles defeat loan schemes in Goa! (Herald)

Doles defeat loan schemes in Goa! August 29, 2013 TEAM HERALD PANJIM: Introduction of doles by successive governments in Goa aimed at improving the living conditions of the under-privileged strata of the society has become a major hindrance to the objectives of Goa State Scheduled Caste (SC) and Other Backward Classes (OBC) Finance and Development Corporation, which is seeing no to very few takers for its many schemes loan schemes funded by the Centre. Except for the ‘term loan scheme’, wherein a maximum loan of up to Rs 10 lakh is provided for starting self-employment activities, there has been no response to any of the schemes including provision of educational loan and financial assistance to women involved in agricultural activities or any other self-employed business. The corporation also fears that in the near future if the government comes out with more doles providing subsidy up to Rs 10 lakh and above for self-employment activities, the “term loan scheme” will also falter. Under this scheme, many beneficiaries have taken loan for purchase of tourist vehicles, goods carriers, fishing canoes etc. So far 690 people have benefited under the scheme. The corporation, established in April 1990, has been working for the social and economic upliftment of the poorer section of the people belonging to the SC and OBC categories. The corporation, which is a channelizing agency for the National Backward Classes Finance and Development Corporation, has formulated many income-generating, self-employment schemes for the benefit of the target group. “We provide loans at interest as low as 1.4 percent and the period for repayment varies depending upon the scheme. Being a 100 per cent loan scheme, SC and OBC people do not turn up as there are many other schemes offered by the government through various departments which are non-repayment schemes,” a senior official said. The official said that since its inception, except for long term scheme, Continued on pg 12 the corporation saw no taker for any other scheme. The corporation schemes are basically divided into two heads--micro finance scheme ~where a loan of upto Rs 50,000 is provided~ and a long-term scheme. “Who will take loan of Rs 50,000 for carrying out agricultural activities? The Agricultural Department itself provides subsidy in various forms. And being a reserve class they have an equal share,” the official added. The corporation, last year, floated its own scheme (own funding) called ‘House repair scheme’, wherein a loan upto Rs 2 lakh is provided to the family with an income of Rs 1.5 lakh annually. “The scheme has been very well received as there is no subsidy provided by government so far for house repairs,” official said. Since the last one year, the corporation received 243 applications from OBC of which 146 have been cleared while 14 out of 20 applicants from SC received loans. FLOP SCHEMES l Shilp Samriddhi Yojana – scheme for artisans loan upto Rs 50,000 lMahila Kissan Yojana – scheme for individual women loan upto Rs 50,000 lEducational loan – scheme for students for pursuing higher education loan upto Rs 20 lakh lMahila Samriddhi Yojana – scheme for individual women for setting small business loan upto Rs 50,000 lSelf employment loan – scheme for setting own business loan up to Rs 10 lakh