Lok Sabha Question No. 1153 (UNSTARRED), answered on 2019-11-25
Subject: Subsidy Scheme for Education Loans
Ministry: FINANCE
Asked by: S. Venkatesan

## GOVERNMENT OF INDIA MINISTRY OF FINANCE

## DEPARTMENT OF FINANCIAL SERVICES LOK SABHA UNSTARRED QUESTION NO. 1153

ANSWERED ON THE 25 th NOVEMBER, 2019, AGRAHAYANA 4, 1941 (SAKA)

## Subsidy Scheme for Education Loans

1153. SHRI S. VENKATESAN:

Will the Minister of FINANCE be pleased to state:

- (a) the details of the Union Government sponsored schemes of interest subsidy on educationalloans for General, OBC, SC, SC/ST (women) students; and
- (b) the amount disbursed to General, OBC, SC, SC/ST (women) students under the said scheme during the financial years 2015-16, 2016-17, 2017-18, 2018-19 and 2019-20?

## ANSWER

MINISTER OF STATE IN THE MINISTRY OF FINANCE (SHRI ANURAG SINGH THAKUR)

- (a) The details of the interest subsidy schemes on education loans are as under:
- (i) A Central Sector Interest Subsidy (CSIS) Scheme is administered by the Ministry of Human Resource Development. Under the scheme full interest subsidy is available for the students belonging to economically weaker sections, for studies in India, for educational loans disbursed on or after 1 st April, 2009 during the period of moratorium.
- (ii) PadhoPardesh Scheme (effective from the year 2013-14) is administered by the Ministry of Minority Affairs. The objective of the scheme is to award interest subsidy to meritorious students belonging to economically weaker sections of notified minority communities for overseas studies.
- (iii) DrAmbedkar Central Sector Scheme of Interest Subsidy on Educational Loan for Overseas Studies for Other Backward Classes (effective from the year 2014-15) is administered by the Ministry of Social Justice and Empowerment. Under the scheme, interest payable by the students for the period of moratorium is borne by the Government.

(b) As per Canara Bank, which is the nodal bank for disbursement under these schemes, the amount disbursed to General, OBC, SC, SC/ST (Women) students under the above schemes during the financial years 2015-16, 2016-17, 2017-18, 2018-19 and 2019-20 are given in the Annexure

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Annexure to reply of Lok Sabha Unstarred Question No. 1153 for answer on 25 th

1. CSIS Scheme of MoHRD, GoI:
2. DrAmbedkar Central Sector Scheme of Interest Subsidy on Educational Loan for Overseas Studies for Other Backward Classes ofMoSJE, GoI:
3. PadhoPardesh Scheme of MoMA, GoI:

| Financial   | Amount of subsidy disbursed/settled   | Amount of subsidy disbursed/settled   | Amount of subsidy disbursed/settled   | Amount of subsidy disbursed/settled   | (Rs in Crores)   | (Rs in Crores)   | (Rs in Crores)   |
|-------------|---------------------------------------|---------------------------------------|---------------------------------------|---------------------------------------|------------------|------------------|------------------|
| Year        | GENERAL                               | OBC                                   | SC TOTAL                              | SC WOMEN                              | ST TOTAL         | ST WOMEN         | TOTAL            |
| 2015-16     | 713.18                                | 455.96                                | 378.92                                | 128.07                                | 36.13            | 11.85            | 1584.19          |
| 2016-17     | 845.42                                | 554.3                                 | 110.83                                | 38.01                                 | 32.96            | 10.98            | 1543.51          |
| 2017-18     | 901.31                                | 597.01                                | 72.47                                 | 23.99                                 | 17.04            | 5.67             | 1587.83          |
| 2018-19     | 925.76                                | 617.17                                | 14.61                                 | 5.11                                  | 3.01             | 1.02             | 1560.55          |
| 2019-20     | 517.57                                | 356.45                                | 27.64                                 | 9.95                                  | 5.93             | 2.08             | 907.59           |
| Grand Total | 3903.23                               | 2580.90                               | 604.47                                | 205.14                                | 95.07            | 31.60            | 7183.67          |

| Amount of Subsidy disbursed/settled   | Amount of Subsidy disbursed/settled   | Amount of Subsidy disbursed/settled   | Amount of Subsidy disbursed/settled   | Amount of Subsidy disbursed/settled   | Rs in Lakhs       | Rs in Lakhs   |
|---------------------------------------|---------------------------------------|---------------------------------------|---------------------------------------|---------------------------------------|-------------------|---------------|
| Financial Year                        | EBC (E conomically Backward Classes)  | EBC (E conomically Backward Classes)  | OBC ( Other Backward Classes)         | OBC ( Other Backward Classes)         | Total ( OBC +EBC) |               |
| Financial Year                        | Female                                | Total                                 | Female                                | Total                                 |                   |               |
| 2015-16                               | 3.99                                  | 18.33                                 | 8.70                                  | 42.16                                 | 60.49             |               |
| 2016-17                               | 36.99                                 | 114.63                                | 83.62                                 | 286.14                                | 400.77            |               |
| 2017-18                               | 156.98                                | 781.10                                | 213.56                                | 1214.23                               | 1995.33           |               |
| 2018-19                               | 77.42                                 | 302.20                                | 128.10                                | 623.50                                | 925.70            |               |
| 2019-20                               | 112.59                                | 448.84                                | 256.09                                | 1119.45                               | 1568.29           |               |
| Grand Total                           | 387.98                                | 1665.10                               | 690.08                                | 3285.48                               | 4950.58           |               |

|                | Amount of subsidy disbursed/settled   | Amount of subsidy disbursed/settled   | Amount of subsidy disbursed/settled   | Amount of subsidy disbursed/settled   | (Rs in lakhs)   | (Rs in lakhs)   |         |
|----------------|---------------------------------------|---------------------------------------|---------------------------------------|---------------------------------------|-----------------|-----------------|---------|
| Financial Year | GENERAL                               | OBC                                   | SC TOTAL                              | SC WOMEN                              | ST TOTAL        | ST WOMEN        | TOTAL   |
| 2015-16        | 289.71                                | 108.69                                | 10.82                                 | 6.41                                  | 2.18            | 1.33            | 411.40  |
| 2016-17        | 256.66                                | 131.18                                | 6.49                                  | 2.50                                  | 5.67            | 2.90            | 400.00  |
| 2017-18        | 523.23                                | 243.84                                | 19.84                                 | 4.50                                  | 13.60           | 6.74            | 800.51  |
| 2018-19        | 3293.47                               | 1188.74                               | 77.84                                 | 25.55                                 | 23.35           | 10.71           | 4583.40 |
| 2019-20        | 989.62                                | 430.80                                | 14.44                                 | 6.77                                  | 4.16            | 2.32            | 1439.01 |
| Grand Total    | 5352.69                               | 2103.25                               | 129.44                                | 45.72                                 | 48.95           | 24.00           | 7634.33 |

Source: Canara Bank