Govt not to waive off loan availed under Artisan Credit Card Scheme

Srinagar: Minister for Industries and Commerce, Chander Prakash Ganga ON Saturday said that there was no proposal under government consideration to waive off Artisan’s Credit Card loan as witnessed for loans under of Kissan Credit Card.
Replying to a question by Abid Hussain Ansari, the Minister said that the ‘Artisan’s Credit Card Scheme’ also known as self employment to Individual Artisan is a State scheme under Capital Expenditure budget wherein any registered artisan can avail one time loan up to Rs 1 lakh from the banks.
The Minister said that Government through Directorate of Handicrafts provides 10 per cent interest subvention on the said loan for a period of 5 years. He said that the government has provided Rs 26.36 crore as 10 per cent interest subvention for the cases sanctioned so far under the scheme. He said Rs 15.80 crore was provided by the government for the purpose during last financial year.