Government to Provide Collateral-Free Loans up to Rs. 2 Million for Educated Youth

The government has introduced a scheme to offer collateral-free concessional loans of up to Rs. 2 million to educated youth, aiming to encourage entrepreneurship and self-employment.

While presenting the budget for Fiscal Year 2082/83, Finance Minister Bishnu Prasad Paudel announced that loans ranging from Rs. 200,000 to Rs. 2 million will be available at a concessional interest rate of 3 percent.

He added that eligibility for these loans will be assessed based on academic qualifications, business registration, skills certification, and a viable business plan.