In order to help the students from financially backward families, Kerala Government announced an education loan repayment scheme. The main focus of the scheme is debt-ridden families, who had taken the education loan for their ward and are unable tp pay it back said, State Chief Minister Pinarayi Vijayan as he was making a statement under the Rule 300 in the assembly.
Unveiling the details about the scheme Vijayan said "It is not a loan waiver program, but a scheme to help repayment of education loan."
He further said "It would have retrospective effect from April 2016 to loans taken up to Rs. nine lakhs. A state-level bankers committee estimated an amount of Rs.900 crore as the burden under the scheme".
The new scheme was introduced at the Old Assembly Hall in the Secretariat during the special marking the 60th anniversary of the Legislative Assembly's first sitting.On April 27, 1957, the first sitting of the assembly was held when late leader E M Sankaran Namboothripad led communist government assumed the office.
Vijayan and the leaders from the ruling CPI-M led LDF and opposition party, Congress-led UDF discussed about what the state has achieved during the period of last 60 years.
Vijayan termed the special sitting as a historic moment and said that the legislative business must be given importance in the Assembly.