Mumbai, Feb 29 (UNI) The Maharashtra Cabinet on Thursday gave its nod to make the limit of government guarantee given to the Maulana Azad Minority Economic Development Corporation (MAMEDC) of the state by National Minority Development and Finance Corporation (NMDFC) permanent instead of eight years for getting a loan of Rs 500 crore.
Earlier, it was decided to increase the guarantee-limit of the state government for this loan from Rs 30 crore to Rs 500 crore for eight years.
Amending that decision, the state Cabinet decided to make the government guarantee limit of Rs 500 crore permanent instead of eight years.
With this decision, the employment opportunities of the youth of the minority, especially the Muslim community, will increase.
It will also help to make development schemes for minorities more effective and sustainable.
Various schemes are being implemented by the government for social, educational and economic development of the minority communities in the state.
The loan scheme for economic development of society is implemented through the MAMEDC of the state. For these schemes, loans are provided to the Corporation from NMDFC.
Many Muslim organisations, including Jamiat-Ulema-e-Maharashtra, have thanked Deputy Chief Minister Ajit Pawar for this initiative and expressed that this will speed up social, educational and economic development of the Muslims.
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