The Rajasthan government has introduced a scheme to provide interest-free loans up to Rs 50,000 to street vendors. The scheme covers people in the age group of 18-40 years working in the service sector and unemployed of urban areas hit by the Covid-19-induced financial crisis.
In compliance with the budget announcement made by Chief Minister Ashok Gehlot, the Finance Department has issued a circular regarding "Indira Gandhi Urban Credit Card Scheme 2021" last week. According to the circular issued on August 7, the objective of this scheme is to provide essential services to street vendors, youths providing essential services in the unorganized sector like hair dressers, rickshaw-walas, potters, eaters, cobblers, masons, tailors, washermen, painters, tap electricians.
They will get interest-free loan up to Rs 50,000 sans guarantee in one year. The scheme will be applicable for one year and loans can be sanctioned till March 31, 2022. The loan moratorium period will be three months and loan repayment period will be 12 months. Five lakh beneficiaries will be given loans under the scheme on the first come first serve basis. Those having monthly income of Rs 15,000 or a monthly family income of Rs 50,000 will not be eligible for the scheme.
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