In a move aimed at supporting minorities, the Maharashtra state cabinet has approved a significant increase in the share capital of the Maulana Azad Minorities Financial Development Corporation, raising it from Rs 700 crore to Rs 1,000 crore.
This decision follows a budget proposal tabled in July, where the state had also enhanced the loan guarantee for the corporation, boosting it from Rs 30 crore to Rs 500 crore.
The Maulana Azad Minorities Financial Development Corporation provides essential financial services to minority communities, including student loans, term loans, and microfinance initiatives.
BGMEA working on resolving salary issues; despite efforts 45 factories closed in Ashulia on Saturday
The increased funding and guarantees are expected to expand the corporation’s reach and impact, helping more individuals from minority groups gain access to financial support.
In addition to this, the state cabinet has also approved a salary hike for teachers working in madrassas, specifically those employed on contract to teach subjects outside the traditional curriculum, such as Mathematics, Science, and Hindi.
The salaries of Diploma in Education (D Ed) teachers will double from Rs 6,000 to Rs 12,000 per month.Meanwhile, teachers with a Bachelor’s degree (BA) and a Bachelor of Education (B Ed) qualification will see their monthly salaries increase from Rs 8,000 to Rs 18,000.
This move is seen as an effort by the state government to regain the support of Muslim voters, a key demographic that largely turned away from the governing parties during the recent Lok Sabha elections.
The government’s outreach efforts aim to improve educational opportunities within the community and provide financial relief to those in need.
