7.8 billion rupees have so far been disbursed amongst 8230 beneficiaries under Prime Minister Youth Business Loan Program. Under this scheme subsidized loans up to two million rupees at 6 percent markup rate are being offered to unemployed youth especially the educated ones. According to officials, last year, balloting was done away with to speed up the processing and disbursement of loans to the potential entrepreneurs.
The officials said that over 200000 people have also benefited from Prime Minister's interest free loan scheme over the last two years. They said this micro finance facility is aimed at helping the poorest of the poor in less privileged areas of the country.
The officials said that, "The government has also started Prime Minister's Youth Training scheme under which masters degree holders have been given internships for one year at public and private organizations." They said, "50000 interns were selected for the first year and 43000 Out of these have been placed in different departments while the placement of remaining interns is in process."
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