Rio urges Naga youth to avail CM’s Micro Finance Initiative

September 18, 2023 59 Views No Comment

Our Correspondent
Kohima | September 18

Nagaland’s Chief Minister Neiphiu Rio told the unemployed youth of Nagaland to avail CM’s Micro Finance Initiative.

Rio maintained that competition and fairness has come in pursuance with the state government’s focus on meritocracy and transparency and told those who cannot get into government job they want, to look for self employment.

“You should get yourself skill,” he said adding that the Government of India and the state government are there to facilitate skill training.

He said this while speaking at the General Body Meeting 2023 of Nationalist Democratic Progressive Party (NDPP) in Kohima on Saturday.

Rio said that the beneficiary under this scheme only have to contribute 10 percent while the bank will give 60 percent and 30 percent from the state government.

To enlighten the burden of interest and repayment, repayment can be done after 7 years, Rio said.

A Cell has been opened at Investment & Development Authority of Nagaland (IDAN) office, Kohima where one can avail form and get other formalities done, Rio said.

Mentionably, to encourage credit for carrying out economic activities, an omnibus scheme under the nomenclature ‘CM’s Micro Finance Initiative’ was launched by the Government of Nagaland.

Under this Scheme, subsidy and interest subvention against identified activities in the agriculture & allied sector including processing units, MSME etc. will be provided to eligible beneficiaries.

Eligible Beneficiaries includes Farmers, Entrepreneurs, Unemployed Youths, Self Help Groups, Farmers’ Producers Organisations and Co-operative Societies.

Interested persons can apply to the District Level Implementation cum Monitoring Committee (DLIMC) headed by the Deputy Commissioner of the concerned District.

Necessary technical support and guidance will be provided by the Department of Agriculture, Horticulture, Veterinary and Animal Husbandry, Fisheries, Industries & Commerce and Nagaland State Rural Livelihood Mission.