Cabinet Meeting Briefing: The Modi government has taken some important decisions in the cabinet meeting, which include decisions like strengthening the Food Corporation of India and providing financial assistance to the youth for good education under the PM Vidya Lakshmi Yojana. Union Information and Broadcasting Minister Ashwini Vaishnav gave this information in the cabinet briefing today on Wednesday (06 November).
Ashwani Vaishnav said, “Today the cabinet has taken a big decision for the farmers, the Food Corporation of India will be further strengthened, today the cabinet will give ten thousand seven hundred crore rupees to the Food Corporation of India, so that maximum grains can be purchased.” Can go.”
‘Students will get easy loan’
He further said, “The Cabinet has approved the PM-Vidyalakshmi Scheme to provide financial assistance to meritorious students, so that no youth of India is prevented from getting quality higher education due to financial constraints. Under this scheme, quality higher Any student taking admission in the Institute of Education (QHEI) will be eligible to take loan from banks and financial institutions without any collateral or guarantor to cover the entire amount of tuition fees and other expenses related to the course. Under this, every youth should be guaranteed that if he gets admission in a good college, he will not be deprived of his studies due to financial lack, in this, a loan of up to Rs 10 lakh will be easily given.
The Union Minister said, “Under this scheme, 75% credit guarantee will be provided by the Government of India on loan amount up to Rs 7.5 lakh, to help banks expand the coverage. Apart from this, up to Rs 8 lakh will be provided. For students with annual family income of Rs. 10 lakh, the scheme will also provide 3% interest subvention on loans up to Rs. 10 lakh.”
Modi government’s step towards strengthening FCI
Ashwani Vaishnav said, “The Cabinet approved infusing equity of Rs 10,700 crore in Food Corporation of India (FCI) by converting Ways and Means Advance into equity in 2024-25. The objective of this decision is to boost the agriculture sector and improve the agricultural sector across the country.” There is a manifold increase in the operations of FCI, as a result of which the authorized capital increased from Rs 11,000 crore in the financial year 2019-20 to Rs 4,496 crore. , which increased to Rs 10,157 crore in the financial year 2023-24.