The Tahdco (Tamil Nadu Adi Dravidar Housing Development Corporation) has been able to bring about socio-economic progress in the lives of Adi Dravidar and Scheduled Tribe youths with entrepreneurial instinct over the last few years through its subsidy-linked loan scheme.
Since 2011, there have been 1,938 beneficiaries and Rs. 7.08 crore disbursed as subsidy for loan amounts totalling Rs. 20.48 crore.
A major chunk of the subsidy pertains to industrial ventures.
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While Adi Dravidars are given 30 per cent subsidy, Scheduled Tribe youths are entitled to 50 per cent subsidy, according to the officials.
Most of the beneficiaries constituted members of women self-help groups. As many as 1,107 SHG members received Rs. 4.51 crore loan and availed themselves of the benefit of Rs. 2.17 crore subsidy, the official figures state.
According to a beneficiary, Ananthan (36) of Odaipallam, who purchased a mini auto with Tahdco loan, his socio-economic condition underwent a major transformation after he became self-employed.
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After deducting all the expenditures, he is able to make a monthly income of Rs. 15,000. Earlier, as a driver of a private vehicle, he earned a salary of Rs. 6,000 a month.
Another beneficiary, Rani of Sampath Nagar, who has started a shop for leather products, says the Rs. 1.05 lakh-loan with Rs. 45,000 as subsidy component was a turning point in her life.
In the case of Pushpakaran of Moolapalayam, a sofa-maker who purchased two electric sewing machines with the loan of Rs. 2.10 lakh, including subsidy component of Rs. 90,000, he could even provide employment to another person.
Though beneficiaries have to be in the age group of 18 to 55 years, there is no requirement for any educational qualification. However, the annual family income must be within Rs. 1 lakh, the officials say.