Earlier the state government had provided money to those borrowers who were making regular payments to the lenders. Microfinance loan waiver is one of the pre-poll promises of the BJP-led government.
The Assam Cabinet on Friday decided to launch Category II of the Assam Micro Finance Incentive and Relief Scheme with six amendments to the existing guidelines and approval of financial sanction of required amount to the beneficiaries by October 2022.
Category II includes borrowers whose payments are overdue by one to 89 days and the rollout will cover 1.07 lakh beneficiaries.
Assam government spent about Rs 3500 crore to provide relief to about 11 lakh microfinance Borrowers who are making regular payments to banks.
Assam Chief Minister Himanta Biswa Sarma had earlier said, “Regular payers were covered in the first phase. We will spend Rs 3500 crore in this phase.
Sarma said, ‘Around Rs 4000 crore will be spent in the second phase, in which money will be given to those who want full exemption. For this a portal will be opened and people who want to take benefits can apply.
The Government of Assam had signed an MoU with microfinance institutions for the implementation of the Assam Micro Finance Incentive and Relief Scheme (AMFIRS), 2021.
The Chief Minister had earlier said that under the scheme borrowers making regular payments with Zero Days Past Due would be provided a one-time incentive to the extent of their outstanding amount, subject to a maximum of Rs. 25,000/-
Similarly for borrowers whose payments are overdue, i.e. accounts which are overdue but are not NPA, the state government will pay the overdue amount. All such borrowers will be encouraged to pay installments on time so that their accounts remain standard and the credit culture is strong.
The cabinet decided that for setting up of floating solar power plants, user rights of water bodies under Assam Fisheries Development Corporation Limited (AFDCL) would be transferred to Assam Power Distribution Company Limited (APDCL) after an agreement between them.
In the cabinet meeting, the Assam Fodder Mission was decided for a period of seven years with a proposed budget of Rs 120.20 crore for training and capacity building of 40,900 beneficiaries and generating employment opportunities in the advance fodder processing sector for 85 dairy farmers. Went.
The Assam Cabinet has decided to increase the number of seats reserved for six communities seeking ST status in medical education by two each from the academic year 2022-23.
Six communities – Tea Garden Tribes, Koch Rajbongshi, Tai Ahom, Matak, Moran and Chutia – have reserved seats for students from these communities in MBBS.
The Council of Ministers also decided to streamline the process of laying City Gas Distribution Pipeline (CGDP) by allowing the Deputy Commissioners to grant the right of way, preferably within 15 days and not more than 30 days from the submission of the detailed plan.