Subsidies on self-employment schemes will be extended to MBCs: CM

Hyderabad : Chief Minister K. Chandrashekhar Rao has instructed the officials concerned that subsidies on self-employment schemes should be extended to the Most Backward Classes beneficiaries as is done with regard to SCs and STs.

The Chief Minister said that the MBC Corporation was already given Rs 1000 Crore funds and allocations will also be made in this year’s Budget. He instructed that the funds allocated to the MBC should be utilised for the poor youth among the MBCs. He wanted preparation of new schemes for the beneficiaries and asked the officers concerned to ensure more beneficiaries of the MBC get subsidies. In the past under Economic Support Scheme, BCs were given 60 percent subsidy (Rs 60,000 per Rs One lakh) and this was not sufficient. Hence there should be an increase in the subsidy component. Financial assistance should also be given to set up Rs one lakh to 12 Lakh units.

KCR instructed that for Rs 1 Lakh loan, the subsidy should be 80% i.e., Rs 80,000, for Rs 2 lakh per setting up of a unit, the subsidy should be 70 percent i.e., Rs. 1,40,000, for the units ranging from Rs 2 Lakh to 12 Lakh, the subsidy should be 60 percent (maximum Rs 5 Lakh limit).

The Chief Minister signed on the file pertaining to subsidies to be given under self-employment schemes for the MBCs. Since there is clarity on the subsidies, the officials should now formulate schemes for the MBCs, he said.