STATE TIMES NEWS
JAMMU: Minister for Industries and Commerce Chander Parkash Ganga on Saturday said that the government is providing 10 per cent interest subsidy under Artisan Credit Card (ACC) scheme for a period of five years.
Responding to a question by Abid Hussain Ansari in the Legislative Assembly, the minister said that under the scheme, the government has paid Rs 57.36 crore as interest to the banks against sanctioned cases of the artisans ending November 2016. He said the artisans are required to pay only 2 to 3 per cent of the interest by themselves.
Giving details, the minister said that the scheme for ‘Self Employment to Individual Artisans’ is a state government run scheme under CAPEX budget wherein any registered artisan of the state can avail a onetime loan up-to Rs 1 lakh from the bank.
He further stated that under such schemes, the Union Government is providing interest subvention of only 6 to 7 per cent while the State Government is providing interest subvention of 10 per cent under this scheme.
He, however, said that currently, there is no proposal under consideration for giving any rebate on principal amount of loan under the scheme.
