In the backdrop of impending elections, the Naveen Patnaik government in Odisha announced a one-time livelihood cash assistance of ₹1,000 in cash to each of the 95,90,526 families (comprising 3,35,98,401 members) covered by the Public Distribution System (PDS) in Odisha.
The government also launched the ‘Swayam’ scheme at an estimated cost of ₹448 crore to provide ₹1 lakh as interest-free bank loans to rural unemployed youths between 18-35 years (18-40 years for special category) for initiating a new business venture. They must have a family income of less than ₹2 lakh per annum, without outstanding loans from Central and State government-supported schemes. The Swayam scheme will be operational for a period of two years.
According to a government statement, there will be no collateral and processing fee for this loan, while the repayment period will be four years, including a moratorium period varying from three to six months. The interest on the loan will be borne by the State government.
