Tamil Nadu Chief Minister M.K. Stalin has launched a new scheme aimed at providing financial assistance to entrepreneurs.
The “Mudhalvarin Kakkum Karangal” (Chief Minister’s Helping Hands) scheme will facilitate bank loans up to ₹1 crore for new businesses.
A key feature of the initiative is a 30% capital subsidy and a 3% interest subsidy on the loan amount, designed to encourage and support small and medium-scale enterprises across the state.
The government’s move is expected to boost economic growth and create new employment opportunities.
The Chief Minister’s office has emphasized that this scheme is a token of gratitude for the sacrifices made by military personnel for the nation. “After dedicating their youth to the service of our motherland, it is our duty to ensure that our ex-servicemen and their families are able to lead a life of dignity and security,” a government spokesperson said.
Applications for the scheme can be submitted through the official website of the Department of Ex-Servicemen Welfare, www.exwel.tn.gov.in. Families of ex-servicemen who lost their lives in service can also apply through their respective District Ex-Servicemen’s Welfare Offices.
The government’s goal is to benefit around 400 ex-servicemen in the state through this program, fostering self-reliance, economic independence, and job creation within their communities.
The ‘Mudhalvarin Kakkum Karangal’ scheme adds to the Tamil Nadu government’s growing list of initiatives aimed at supporting specific sections of the population and boosting economic activity.
This program, however, stands out for its specific focus on a demographic that has long been recognized for its dedication and discipline, skills that are highly valued in the world of business.