Indira Gandhi Urban Credit Card Scheme, Rajasthan

On August 16, 2021 Rajasthan Chief Minister Ashok Gehlot approved the draft of Indira Gandhi Urban Credit Card Scheme. This scheme was earlier announced in the state budget 2021. Under this scheme the state government tends to provide interest free loans up to Rs. 50,000 to the street vendors, cobblers, carpenters, painters rickshaw drivers, etc., in the urban areas. This scheme is launched to cover the people in urban areas wherein the financial assistance will be provided to the beneficiaries. It tends to promote employment and self-employment opportunities. About five lakh beneficiaries in urban areas are aimed to be covered under the scheme.

Overview:

Scheme Objectives and Benefits:

• The main objective of the scheme is to provide financial assistance to the urban youth beneficiaries in the form interest free loan up to Rs. 50,000/-
• Financial constraints due to pandemic situations will be eased through this scheme.
• All street vendors, cobblers, carpenters, painters rickshaw drivers, etc., in the urban areas will be eligible for assistance.
• The procedure of applying for the loan and availing the same is kept easy.
• Moratorium period of the loan will be three months and repayment period will be twelve months for feasibility.
• This initiative will provide financial assistance and boost employment as well as self-employment opportunities in the urban areas.

Key Points:

• Chief Minister Ashok Gehlot approved the draft of Indira Gandhi Urban Credit Card Scheme on August 16, 2021.
• This scheme was announced in the state budget 2021.
• Department of local self-government will implement the scheme.
• Under this scheme the state government will provide interest free loans up to Rs. 50,000 to the street vendors, cobblers, carpenters, painters rickshaw drivers, tailors, masons, plumbers etc., in the urban areas.
• Interested individuals will have to make loan application.
• These loans are guarantee free loans with a moratorium period of three months.
• Repayment period of these loans is twelve months.
• It tends to cover all the urban beneficiaries in the state in the age group of 18-40 years.
• This loan amount will provide assistance to the beneficiaries in coping up from the impact of pandemic situations.
• This scheme tends to encourage employment and self-employment opportunities in the state.
• Loan amount sanction will be through transparent methods.
• The District collectors will be he nodal officers for implementation and review of this scheme.
• It will be a boon to the beneficiaries in tough times.
• About five lakh urban beneficiaries will benefit under this scheme.