Photo Courtesy: nenews
Aizawl: Mizoram will establish a development finance corporation. Chief Minister Lalduhoma led the Council of Ministers meeting on Tuesday to authorize the move. The new institution aims to improve credit access for entrepreneurs and those enrolled in the state flagship Bana Kaih handholding scheme. It fulfills a key manifesto promise to build a development bank.
The corporation will operate independently. It will stay outside of direct government control. The Cabinet formed an interim committee to handle the setup, study necessary arrangements, and provide formal recommendations. An official stated, "The proposed Mizoram Development Finance Corporation is part of the government's manifesto commitment to establish a development bank."
Officials are also changing school management. The Cabinet agreed to simplify rules for the provincialisation of schools. The government will assess the financial costs before bringing the final plan back to the Council of Ministers.
New rules were also approved for the Mizoram Viksit Bharat: Guarantee for Rozgar and Ajeevika Mission (Gramin). These updates set standards for the mission fund, the State Gramin Rozgar Guarantee Council, and grievance redressal. The framework includes specific mandates for unemployment allowance payments and compensation for delayed wages.
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