Chief Minister Manohar Parrikar told in the Assembly that the scheme, which is to be renamed after Varghese Kurien, the Father of India's White Revolution, will have several clauses to attract youth and make them self-employed.
"The scheme will have an exit policy. In case of permanent injury or death of a beneficiary, the loan amount can be waived off," he announced on the floor of the House.
Beneficiaries who pay instalments on time will also get a 25 per cent subsidy on their EMIs, Parrikar said, adding that the scheme will be modified within the next fortnight.
The state government, he said, will also give 30 per cent reservation to unemployed youth to set up shops in bus stands of state-run Kadamba Transport Corporation Limited.
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