Low-interest state govt loans empower youth & reduce migration in Chanchal

Malda: Low-interest loans provided by the state government’s Minority Development and Finance Corporation are helping the youth of Chanchal become self-reliant, significantly reducing distress migration to other states.

In this minority-dominated region, unemployment has long been a major concern, forcing many young men and women to leave their homes in search of work due to lack of capital to start businesses locally.

According to officials, the state government’s initiative to provide loans at subsidised interest rates has begun to show a visible impact. Several beneficiaries have already started small businesses, while many more are awaiting approval of their applications. Sources from the Chanchal-I Block Minority Development Corporation office revealed that during the current financial year, loans amounting to nearly Rs 2 crore have been disbursed among 510 beneficiaries.

Under the scheme, applicants receive the sanctioned amount directly in their bank accounts after completing all formalities. Officials claim that the success of the project has led to a gradual decline in the number of migrant workers from the area.

Minister of State for Minority Development Tajmul Hossain said the scheme is proving to be a game changer. “As people become self-employed with the help of this loan, the tendency to migrate to other states for work is steadily decreasing. This is also creating employment opportunities within the locality. In a phased manner, migration for work will stop,” he claimed.

Politically, leaders of the ruling Trinamool Congress believe the programme’s success will provide a boost to the party ahead of the upcoming Assembly elections, as the scheme directly impacts livelihoods at the grassroots level.

Beneficiaries have shared positive experiences. Afshari Khatun, who started a grocery shop at her home, said: “Even if we have the desire, women from rural areas like us cannot become self-reliant due to lack of money. With this loan, I have started a grocery shop at home.” Mustafa Ali of Kaligram echoed similar sentiments. “I used the loan to renovate and expand my stationery shop. Without this financial help, it would have been very difficult for me,” he said.

Shah Alam of Kabilkhani, who earlier worked outside the state, said: “I used to go to another state for work. Now, with the loan, I run a grocery shop at home. I no longer need to leave my village.”

Sheikh Afsar Ali, Field Supervisor of the Chanchal-I Block Minority Finance Corporation, stated: “Loans are provided at an annual interest rate of six per cent. This year alone, Rs 2 crore has been disbursed, and many beneficiaries have achieved self-reliance through this scheme.”