TMC survey promise for young people in Goa: credit up to Rs 20 lakh without guarantee, government as guarantor
The Trinamool Congress (TMC) and Maharashtrawadi Gomantak Party (MGP) alliance announced the “Yuva Shakti Card” on Sunday, its second major pledge ahead of the parliamentary elections. The program targeting young people in Goa between the ages of 18 and 45 offers a loan of Rs 20 lakh at 4% interest with the government as guarantor.
Announcing the program on Sunday, Goa TMC chief Kiran Kandolkar said young people made up almost half of the state’s population. “The population between the 18-45 age group in Goa is 7.5 lakh. Often, they cannot pursue higher education because their parents’ financial situation is not very good. Sometimes parents mortgage their homes to take out the loan, and students carry this burden throughout their studies. Sometimes ancestral homes are in the name of different family members and mortgage the home for the education of a child becomes difficult. To take out a loan, people need to find someone to stand behind it. But in this scheme there will be no guarantee. The government will be the guarantor, ”he said.
The program is aimed at young people who wish to pursue higher education or are looking for financial support to start or strengthen their business, the TMC said.
TMC spokesperson Saket Gokhale said the program places no restrictions on where the student can pursue higher education or start a business as long as the person benefiting from the program is Goan.
This means that students in Goa who wish to continue their studies abroad or in other states can also benefit from the universal coverage program with no income limit, he said.
Senior MGP leader and MP Dhavalikar said the state’s financial management under the BJP government was “third class” and that while corruption in government was blocked, not only programs like Yuva Shakti and Griha Laxmi, the government would be able to meet all the needs of every Goan.
He said that a TMC-MGP government will have the capacity to do this. He said the Yuva Shakti card would also help the state’s farmers, who suffered losses when Cyclone Tauktae hit, and small businessmen to get back on their feet.
“It is a credit system. The young people of Goa are not Nirav Modi or Mehul Choksi. We expect and know that the young people of Goa will honestly repay the loans they take out. In terms of budgetary expenditure, 35,000 crore of Goan silver rupees is being stolen by a group of mining companies. It’s in the Shah Commission report and that’s what the Supreme Court observed. The maximum expenditure for the program is Rs 1,100 crore. If the corruption were to be exposed and the money recovered, there would be much more to be done. It’s a very small part of it, ”Gokhale said.
This is the second major project announced by the TMC ahead of the Legislative Assembly polls. The first was the Griha Laxmi program under which a woman in each household would be eligible to receive 5,000 rupees per month from the government. The Griha Laxmi program has already registered over a lakh of registrations and registrations for the Yuva Shakti program started on Sunday. TMC leader Aleixo Reginaldo Lourenco has asked more and more people to sign up before the model code of conduct goes into effect.