Why in news:

• The state government of Himachal Pradesh has put renewed emphasis on ensuring that the economy grows at a fast pace while taking into account the interests of all stakeholders. Besides, it is endeavouring to ensure that the fruits of development are distributed to all sections of society, thereby ensuring inclusive development.

Key Points:

• Taking active steps in the direction, the state government has urged banks to provide loans at concessional interest rates to the beneficiaries of the government's Rajiv Gandhi Self-Employment Startup Scheme.
• In this regard, the concerned officials have assured the banks that the government will give guarantee on the loan for purchase of e-taxis under the first phase of the scheme.
• In this regard, a high level meeting of the representatives from public sector, co-operative and private banks was held, presided over by the Chief Minister. As part of its ambitious objectives, the state government has initiated the first phase of the Rs 680-crore Rajiv Gandhi Self-Employment Startup Scheme and asked the banks to provide loans to the youth at concessional rates. Under the first phase, 50 per cent subsidy is being provided on the purchase of e-taxi with an aim to get these vehicles attached with government offices to provide self-employment to people.
• In order to streamline the progress, the concerned officials have also asked all the banks to send the interest rates to the state government within stipulated time so that necessary action can be taken. As per the plans envisaged in this regard, the state government will issue 500 e-taxi permits in the first phase and its number will be increased on the basis of demand. This scheme is part of the state government’s plans to create new self employment opportunities, especially for the youth. This is a sensible approach considering that the employment opportunities in public sector are far outweighed by the number of unemployed youth which might potentially lead to unrest. Besides, the scheme is also designed to take full advantage of the potential of state’s tourism sector.