Finance Minister Nirmala Sitharaman distributes loans under Prime Minister's Loan Schemes in Coimbatore, Tamil Nadu

Union Finance Minister Nirmala Sitaraman yesterday distributed. 3500 Crore rupees worth of credit assistance to the beneficiaries at Coimbatore. Speaking at the function , the Minister said that aspirational districts are prioritised for all types of Government assistance. The loans were distributed under the Credit Outreach Program.

The Finance Minister said that the Government is creating awareness and is ensuring that rural farmers and entrepreneurs become aware of the subsidy and credit loans given to small entrepreneurs and businessmen. The Finance Minister said that 23, 800 beneficiaries were given retail loans and Mudra loans were distributed to  2904 new beneficiaries.  

The Minister informed that the Stand up India loan has been given to 18 beneficiaries rural youth belonging to Scheduled Community, scheduled tribes and women. Ms. Nirmala



Sitaraman described that those having  Kisan Credit Cards can also seek loan assistance from the Government. She said that assistance was provided to 2500 self help groups at Coimbatore. She also added that  One lakh account holders will be getting their loans under various schemes.

Ms. Nirmala Sitaraman said that the revenue generated through cess is used for multi purpose cooperative societies all over the Country so that the common man is benefitted. She said that the Tax revenue is shared with State Governments and revenue earned from cess is used for the development of economy  in which people from all strata of the society are benefitted was not against federalism.  

Earlier, the Finance Minister inaugurated a new branch of the SIDBI and also participated in Swachata Hi Seva in Coimbatore.