Mizoram CM Launches 'Handholding Scheme' to Boost Entrepreneurs and Farmers

Mizoram Chief Minister Pu Lalduhoma launched the 'Handholding Scheme' (Bana Kaih) to provide financial assistance and support to entrepreneurs and farmers. The scheme includes collateral-free and interest-free loans, market support, and grants, aiming to enhance economic growth and self-sufficiency in the state.

Mizoram Chief Minister Pu Lalduhoma unveiled the 'Handholding Scheme' (Bana Kaih) on Thursday during a ceremony at the Vanapa Hall in Aizawl. The initiative, targeting entrepreneurs and farmers, aims to stimulate economic growth and self-sufficiency through a comprehensive financial assistance and support system.

The scheme features five key components, notably a collateral-free and interest-free loan program. Beneficiaries may receive loans up to Rs 50 lakh through partner banks, with the state government acting as a guarantor under national credit guarantee schemes, according to a press release by the Directorate of Information & Public Relations, Government of Mizoram.

Consistent loan re-payers could benefit from up to 100 per cent interest subvention. Additionally, the Chief Minister's Special Category Scheme offers a grant-in-aid of up to Rs 1 lakh for individuals unable to avail loans but with viable livelihood projects. Market support is another essential component, including Minimum Support Price (MSP) for key crops like Ginger, Broom, Turmeric, and Mizo Birdeye Chilli, and MSP for Paddy from Kolasib and Mamit districts.

(With inputs from agencies.)