Only 6,862 persons have received loans under the Bhabishyat Credit Card (BCC) scheme so far, a number way short of its target of providing loans to two lakh youths annually to help them generate livelihood opportunities.

The figure was revealed during a meeting between the newly appointed chief secretary B.P. Gopalika and district magistrates on Saturday.

The new chief secretary instructed the districts to take the initiative to give momentum to the scheme at the earliest.

The BCC scheme has been deemed vital for the ruling Trinamul establishment in Bengal since its launch on April 1, 2023, to address the unemployment problem in the state.

Under the ambitious scheme, any person in the age group between 18 and 55 years and residing in the state for the past 10 years can get a soft loan of up to Rs 5 lakh for starting any income-generating project in manufacturing, service, farm sector or trading/business sectors. Existing units are also eligible to get loans under the scheme.

“The prime target of the scheme was to address the unemployment problem ahead of the 2024 Lok Sabha polls since complaints were coming on the lack of employment opportunities in the Sorasori Mukhyomantri or (the earlier) Didir Doot programmes. But the progress of the scheme does not appear to give much joy to the ruling establishment as the numbers have fallen way behind target,” said a senior bureaucrat.

According to sources, this is embarrassing for Trinamul because chief minister Mamata Banerjee, before the 2021 Assembly polls, had promised to generate more than one crore employment opportunities in the next five years.

“The ruling establishment in Bengal was heavily dependent on this particular scheme to counter questions on the lack of employment opportunities ahead of the crucial 2024 Lok Sabha polls.... But it appears that the ruling party here has to face questions over the scheme that has to go a long way...,” said a bureaucrat.

According to figures available, the state government received 1.42 lakh applications under the scheme so far, of which 1.13 lakh applications were sent to banks for approval.

The banks have sanctioned 19,642 applications. Of these, loans were disbursed to only 6,862 applicants.

Sources said that most applications were rejected by banks as the applicants did not prepare detailed project reports properly.

“There is a clear lack of understanding on how to prepare the DPRs. The banks won't do charity, they'd like to disburse loans only to those DPRs they find viable. If the state wants to make the scheme viable, it has to train potential applicants on how to prepare DPRs,” said a bureaucrat.

Sources also pointed out that the state did not get even 2 lakh applications despite a target of providing loans to 2 lakh applicants annually.

“The state organised three Duare Sarkar camps in the past year but did not receive 2 lakh applications under the BCC. That means a lack of interest among the youths in Bengal to start their own units or businesses. The Bengal government must encourage youths to come forward,” said a source.