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J-K Budget: Govt to Provide Education Loans With Interest Subvention for Certain Period

J-K Budget: Govt to Provide Education Loans With Interest Subvention for Certain Period

 Reaching out to youth of Jammu and Kashmir, the Mehbooba Mufti government on Thursday announced educational loan facility from banks with interest subvention on repayments till completion of course.

Also, the state government will set up a corpus fund of Rs 12,000 crore that will be used for making timely GPF (General Provident Fund) payments to the government employees in future.

For the youth, the government has decided that education loans will be made available from banks with interest subvention facility till course completion, state Finance Minister Haseeb A Drabu said while presenting Rs 80,000 crore Budget for the fiscal 2018-19 in the state assembly.

"A good number of students from our state aspire for higher intellectual pursuits in top universities of the world but are not able to realise their dreams due to financial constraints," he said.

The minister said that students belonging to weaker sections and children of single mothers, who qualify top examinations to secure admissions in different universities, shall be provided interest subvention on the education loans till the completion of the course, he said.

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