Minority 1 Lakh Scheme Telangana, How to apply for 1 lakh minority scheme in Telangana?

Minority 1 Lakh Scheme Telangana: On Sunday, the Telangana government introduced an ordinance aimed at extending substantial financial support to eligible members of minority communities. Under this scheme, individuals from minority backgrounds will receive 100% subsidized financial assistance amounting to Rs. 1 lakh. The financial aid provided to minorities will be on par with the support offered to economically disadvantaged groups.

The state government has emphasized that this initiative marks another significant milestone in the journey of minority communities towards achieving economic independence. For more detailed information regarding the TSMFC Minority 1 Lac Scheme, including highlights, features, eligibility criteria, necessary guidelines, application procedures, and more, please refer below.

Minority 1 Lakh Scheme Telangana Overview

Name	Minority 1 Lakh Scheme Telangana
Initiated by	Government of Telangana
Beneficiaries	Minority communitie’s of Telangana
Official Website	Available soon

What is Minority 1 Lakh Scheme Telangana?

On July 23, Chief Minister K. Chandrasekhar Rao made a significant decision in this regard, leading to the issuance of rules by the State Government to enable financial assistance to minorities. Subsequently, guidelines for the selection of beneficiaries under this scheme were issued.

To facilitate the implementation of this economic support program, the Minorities Welfare Department issued a Government Order (GO). According to the GO, applications that were submitted during the fiscal year 2022–23 but are still pending will be considered for approval in 2023–24. This approval entails granting 100% direct subsidies amounting to Rs 1 lakh for each eligible recipient, and it will be administered through the Telangana State Minorities Finance Corporation.

Latest Update as on 11th September:

Telangana to launch second phase of 100% subsidized loan program for minorities

The Telangana government is preparing to launch the second phase of its 100% subsidized loan program for minorities. The Telangana Minority Finance Corporation (TSMFC) will provide Rs. 1 lakh to each of the 14,300 applicants, according to officials from the Minority Welfare Department.

The government has already allocated Rs. 153 crore for the second phase and has instructed District Collectors and District Minority Welfare Officers to ensure its smooth implementation.

The second phase of the program has been made possible by the successful completion of the first phase. In August 2023, the government distributed Rs. 100 crore to 10,000 minority beneficiaries, giving each of them a Rs. 1 lakh check. The government is providing subsidies to about 120 eligible members of minority communities from each assembly constituency.

The program “Minority 1 Lakh Scheme Telangana” is aimed at helping minority communities start their own businesses and improve their economic well-being. The loans can be used for a variety of purposes, such as setting up a new business, expanding an existing business, or purchasing equipment or machinery.

The Telangana government has been implementing a number of other programs to support minority communities, including providing scholarships to students and training and employment programs for youth.

Minority 1 Lakh Scheme Telangana Benefits

• The Minority 1 Lakh Scheme Telangana provides a one-time grant of Rs. 1 lakh to eligible minority community members to start or expand their businesses.
• The grant is 100% subsidized, meaning that the beneficiary does not have to repay any amount.
• The scheme is open to minority community members aged between 21 and 55 years.
• The scheme is aimed at helping minority communities improve their economic well-being and reduce poverty.
• Helps minority community members start or expand their businesses.
• Provides financial assistance to minority community members who may not have access to traditional sources of credit.
• Creates jobs and boosts the local economy.
• Helps minority community members become more self-reliant.
• The scheme is in line with the Telangana government’s commitment to the welfare and development of all minority populations.

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Minority 1 Lakh Scheme Telangana Eligibility Criteria

Eligibility criteria for the Minority 1 Lakh Scheme Telangana:

• Must be a member of a minority community (Muslims, Christians, Sikhs, Buddhists, Jains, or Parsis)
• Must be a resident of Telangana state
• Age between 21 and 55 years
• Must have an annual income not exceeding Rs. 1.5 lakh in rural areas or Rs. 2 lakh in urban areas
• Only one family member per household is eligible for the grant
• Christian applicants must submit new applications to the Telangana State Christian Minorities Finance Corporation.

Minority 1 Lakh Scheme Telangana Important Guidelines To Consider

The Telangana government has introduced an economic assistance program for minorities and has issued a Government Order (G.O.) with the following guidelines:

• Applications submitted for 100% direct subsidies of Rs 1 lakh per eligible beneficiary through the Online Beneficiary Management and Monitoring System (OBMMS) portal during the fiscal year 2022–23, but are still pending as of the current fiscal year 2023–24, will be processed by the Telangana State Minorities Finance Corporation (TSMFC).
• New applications from Christians will be accepted to select Christian candidates for the financial assistance of Rs. 1 lakh, which includes a 100% direct subsidy administered by TSMFC.
• As of June 2, 2023, eligible candidates must fall within the age range of 21 years to 55 years.
• Only one family member will be eligible to receive the grant.
• The annual income of the candidate below Rs. 150,000 in rural areas and Rs. 2 lakh in urban areas.
• The selection process will be conducted by the District Level Monitoring Committee/District Level Screening Committee, chaired by the District Collector.
• The District Collector must obtain the consent of the District In charge Minister on behalf of the entire district for this scheme.
• The TSMFC website must provide a phase-by-phase selection list, and the subsidy will be granted as a one-time payment.
• The online Beneficiary Management and Monitoring System must incorporate all of the above-mentioned eligibility criteria, as per the Centre for Good Governance’s guidelines.

How To Apply for 1 Lakh Minority Scheme In Telangana?

The Telangana government has introduced the Minority 1 Lakh Scheme Telangana, aimed at offering financial support to minority communities for the establishment or expansion of their businesses. Although the official website for the scheme is not currently accessible, it is anticipated that the government will release it in the near future. Please be join with us for latest update. we will update this as latest Information updated.

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