A nod from the Cabinet to financial aid for young unemployed people, students

The State Cabinet, in an effort to provide financial assistance to poor students and young people seeking a skills upgrade, has approved four ambitious programs. The programs will be launched during the state function (November 15) by President Draupadi Murmu during her visit to the state. The program has been prepared for these students so that they do not face financial constraints to pay training fees for competitions for colleges and jobs, and also to pay tuition once admitted.

A Cabinet meeting was held on Thursday under the chairmanship of Chief Minister Hemant Soren, during which a total of 34 proposals were adopted. At the meeting, four schemes including Chief Minister Sarthi Yojana were endorsed.

Under the leadership of Chief Minister Sarathi Yojana, the government will provide financial assistance to young people who have received training. If these young people have not found a job, the government will now grant them an allowance of Rs 1000 per month. At the same time, the government announced this amount of Rs 1500 per month for women and the disabled.

Similarly, Mukhyamantri Shiksha Protsahan Yojana offers free coaching in some state coaching institutes for various competitions i.e. engineering, medicine, law, mass communication, fashion design, hotel management and chartered accountancy.

“This program can be used by 10th pass students. Apart from enjoying free coaching, they will receive a monthly student allowance of Rs 2,500 for other expenses. Their parents should not be categorized as income tax recipients,” an official said on condition of anonymity.

The state government has decided to support 8,000 students under the program next year. Selection guidelines will be drafted and the establishment of coaching institutes will take place soon. Admission tests will be taken to assess student merit and interest.

“We have also developed Eklavya Yojana which will help in taking coaches for employment oriented competitions like UPSC, JPSC, bank and PO employees, railway board and various personnel positions. Here we aim to help 27,000 students,” the official said.

For those who finally make it to the big tertiary institutions, regardless of parental income level, the government of Jharkhand has approved the “Guruji Credit Card” to help pay fees and cope with other expenses, and repay the loan later.

“The credit card will allow loans up to Rs 15 lakh, released according to the tuition schedule over the duration of the course. A maximum of 30% of the loan will be granted directly to the student to cover non-institutional expenses such as accommodation and laptops.

“Students will have a one-year moratorium after completing their studies, then they will have 15 years to repay the loan at 4% interest. This will be done in collaboration with the banks. The state will bear around 6% to 7% interest as a grant and will pay the full amount if the student becomes a defaulter,” Purwar said. However, there will be selection criteria to become a beneficiary of this program.