WB Bhavishyat Credit Card Scheme 2023
In the Bhavishyat Credit Card Scheme, loans upto Rs. 5 lakh would be provided through banks for setting up micro-enterprises and create employment opportunities. The West Bengal state government shall provide subsidy in the form of margin money contribution upto 10% of project cost with a maximum cap of Rs. 25,000. Along with this, govt. will also provide a guarantee coverage of 15%.
The state govt. has earmarked a sum of Rs. 350 crore for this scheme.
Bhavishyat Credit Card Announcement in West Bengal Budget 2023-24
Finance Minister has announced Bhavishyat Credit Card Scheme in West Bengal Budget 2023-24. While announcing the scheme, Finance Minister said "I am happy to announce a new scheme ‘Bhavishyat Credit Card’ for our youth. Under this Scheme 2 lakh youth of the age group 18-45 years will be provided financial assistance as loan upto Rs. 5 lakh through Banks for setting up micro-enterprises and create employment opportunities. State Government shall provide subsidy in the form of margin money contribution upto 10% of project cost with a maximum cap of Rs. 25,000 and a guarantee coverage of 15%. Rs. 350 crore is earmarked for this scheme".
Overview of Bhavishyat Credit Card Scheme
Name of Scheme | Bhavishyat Credit Card Scheme |
State | West Bengal |
Announced by | Finance Minister of West Bengal |
Date of Announcement | 15 February 2023 |
Beneficiaries | Youth in the age group of 18 to 45 years |
Age Group | 18 to 45 years |
Number of Beneficiaries | 2 lakh youth |
Loan Amount | Rs. 5 lakh |
Assistance | Subsidy in the form of margin money contribution upto 10% of project cost with a maximum cap of Rs. 25,000 |
Guarantee Coverage | 15% |
Budget Outlay | Rs. 350 crore |
Data is taken from https://finance.wb.gov.in/writereaddata/Budget_Speech/2023_English.pdf
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