Bhopal
After five years, the government is once again going to provide interest grant facility to MLAs for taking loans for vehicles and housing. Now this amount was yet to be 15 lakh for the vehicle and 25 lakh for housing. It is being doubled, but has created two categories in interest grant. The government will give only two percent interest grant for more than 15 lakh vehicles and more than 25 lakh houses. The remaining interest will have to be repaid by the MLA himself. If a vehicle or housing of less than this amount is taken, then four percent interest will have to be paid to the MLA and the government will pay the remaining.
Proposal will be presented to the cabinet
The Finance Department has agreed with the amendment of the proposal of the Parliamentary Affairs Department. It will now be presented before the cabinet for the final decision. The elected members for the 16th Assembly (December 2023-2028) had been demanding for a long time to restore the facility of interest grant on vehicles and housing loans. Assembly Speaker Narendra Singh Tomar also agreed and discussed with Chief Minister Dr. Mohan Yadav. The member facility committee sent the proposal to the Department of Parliamentary Affairs, which was sent to the Finance Department with the approval of Departmental Minister Kailash Vijayvargiya. The amount of vehicle loan will be Rs 25 lakh in place of 15 lakhs and the amount of housing loan will be Rs 50 lakh in place of 25 but interest grant will be available in two categories.
Two percent interest grant will be available
The department believes that people taking more than 15 lakh vehicles and more than 25 lakh houses can also pay interest, so only two percent interest grant will be given to such MLAs. They will have to pay the remaining interest. If less loan is taken, the MLA will have to pay four percent interest as before and the government will pay the remaining amount. Now this proposal will be presented in the cabinet meeting for the final decision. It is noteworthy that due to the Korona epidemic in the 15th assembly, the government had put a brake on the scheme.
