1.5 lakh Maratha youths became entrepreneurs with financial support, says development corporation

Mumbai, Sep 23 (PTI) The Annasaheb Patil Economic Development Corporation (APEDC), a government-run body in Maharashtra, has helped 1.5 lakh youths from the Maratha community to become entrepreneurs by providing financial assistance to them, its top office-bearer said on Tuesday.

Talking to reporters, the corporation's chairman Narendra Patil said loans worth about Rs 13,250 crore have been provided through the corporation to the young entrepreneurs from the Maratha community.

He also said Chief Minister Devendra Fadnavis will be felicitated on September 25, the birth anniversary of late legislator and leader Annasaheb Patil, for his role in implementing schemes for the Maratha community.

"Since 2016, Fadnavis has worked for the welfare of the Maratha community and fulfilled Annasaheb Patil's vision of its overall development. A total of 1.5 lakh Maratha youths have become entrepreneurs with the financial assistance provided through the development corporation," he said.

Patil said during the Congress-led rule in the state between 1999 and 2014, the corporation was allocated only Rs 50 crore.

"However, after Fadnavis became the chief minister, the amount was raised to Rs 100 crore in 2018-19. Under the Maha Vikas Aghadi (MVA) government, Rs 50 crore were announced but not released. Later, during Eknath Shinde's tenure as CM, the allocation was increased to Rs 100 crore," he said.

After Fadnavis became the CM again (last year), the allocation went up to Rs 300 crore and Rs 400 crore in 2024-25, he said, adding that Rs 750 crore are now proposed in the next budget.

Banks have supported the corporation's initiatives, and the state government has provided nearly Rs 1,300 crore as interest subsidy, Patil said. PTI ND NP