Sukhvinder Singh Sukhu, Chief Minister of Himachal Pradesh, plans to begin the 'Mukhyamantri Vidyarthi Protsahan Yojna' soon. The goal of this scheme is to grant one percent education loans to impoverished students in order for them to pursue higher and professional studies beginning in fiscal year 2023-2024. The state government has proposed 200 crores under this scheme for this purpose.
According to the minister, all qualified poor students whose household income is less than Rs. 3 lakhs per annum would be able to benefit from this scheme through financial institutions or banks at a 1% interest rate.
All tuition, housing, books, and all connected expenses involved with their education will be paid under this scheme.
Engineering, medical, management and Ph.D. programmes from ITIs, Polytechnic, B Pharmacy, nursing, General Nursing and Midwifery (GNM), among others, are covered by the scheme.
"The main goal of the scheme is to ensure that no poor child in the state is denied higher and professional education due to a lack of financial resources," according to the statement.
Sukhu stated that a one percent interest rate is intended to develop a sense of responsibility in the beneficiaries so that they will be motivated to attain their goal.
He also stated that 20,000 meritorious lady students over the age of 18 studying in government institutions will be given a Rs 25,000 subsidy to acquire electric scooters.
The initiative would not only encourage female students to seek higher education, but will also aid in the development of Himachal Pradesh as a "green state."
