Thursday, February 22, 2024
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Loan opportunities for a new Start

The un-employment problem coupled with the magnitude of returnees is a major concern. The only way out I find is to venture into the production line. I no longer see white colour jobs as an option. State Govt of the day has no plan to create jobs. They were complaining against their own actions for which more than 70% of the budget is used for payment of salaries.
What they have been doing is to wait for the release of funds from the Centre to disburse, convert and divert MGNREGA funds and indulge in corruption. Instead of paying 100 days’ wages, they pay for only few days, sometimes even below 10 days in a year, while the remaining disappears.
Tribal Affairs Ministry funds released under Art 275(1) have also mysteriously disappeared. CAG report calls these as unverifiable projects. Loans for development are taken and shared like the High Court Complex, Indoor Stadium Dimapur and so many more. Because of 17 years misrule, the educated unemployed youth have had to venture outside the state while many have joined NNPG factions to collect taxes.
Children born in 1997 when the ceasefire was signed are now graduates and post graduates. Talks have concluded taking all the factions on board on 30th Oct. 2019. State Govt instead of demanding implementation of solution, is playing delay tactics by demanding “inclusive solution” of all factions. In our view, whether good or bad, the talks have concluded including for all. Our ancestors did not go back on their word and so we should not. Solution should be implemented without any further delay. In such a situation, the unemployed cannot have hope to get opportunity from the Govt of the day. Delay in implementation of solution is a major cause that is also blocking investment and creation of jobs in Nagaland. We cannot expect that the State budget will be a source of capital to start new businesses. It is not enough for the corrupt lot.
On the other hand, the Government has sealed the opportunity of obtaining loans through property mortgaging by denying application of the SARFAESI Act. They have also neither any plans to facilitate the funding of private production lines.
Despite of all these hopeless situations, the reality is we need to earn for we are not beggars. The only alternative way is to obtain loans from Banks and other Financial Institutions.
To boost the economy of the Nation, Hon’ble Prime Minister has announced Rs.20 lakh crores. To begin, in Nagaland, would hardly require about 1,000 crores. I am sure there are provisions for Nagaland State too in that 20 lakh cores. Banks and other Financial Institutions perhaps are ready and are awaiting the applications for collateral free loans. We can read online that collateral free loans are provided under schemes like Mudra and MSME for private entrepreneurs and Kissan Credit Cards for long term Agricultural loans for farming.
I find there is serious trust deficit in the minds of Lenders for the reasons of non-repayment and for protecting defaulters by forceful elements. I appeal not to involve in such dealings as they only contribute to blocking the growth of economy in our own land. Help the developing economy, it belongs to all. New loanees should remove that trust deficit by paying dues in time. PMRY loan beneficiaries selected by political leaders have mostly failed to make their projects take off and have also failed to repay too. Beneficiaries lack skill and commitment and are untrained. Many have benefitted with the intention to avail subsidies only. Govt of India has closed Industrial Transport subsidy to Nagaland because of corruption.
Villages and Communities may decide to stand as guarantors for Agricultural loans and micro entrepreneurs that are required within their own vicinities by mortgaging land from loanees. They also must come forward with open hearts and support loans by way of providing land and other logistics support for all Micro, Small and Medium Entrepreneurs. House owners should give priorities to returnees and unemployed youths. It is time we change our attitude towards the economy and become self reliant.
Agriculture being the mainstay for Nagaland, we must improve production. We must also think of surplus in both agricultural veterinary and animal husbandry produce. Loans are there to facilitate. If you don’t have land, there are also loans for acquisition of agriculture land.
Remember, only the honest can shine in business. The qualification required for collateral free loans are honesty, skill and commitment. I wish everyone best wishes.
K. Therie
President, NPCC