PANJIM: Three educational institutions, which have been granted funds under the Goa government’s Infrastructure Loan-cum-Grant Scheme, have been asked to commence construction to avail the financial benefit. The Goa Education Development Corporation (GEDC) has held back releasing the first instalment since the work is yet to kick-off.
Chubby Cheeks Primary School, St Thomas Girls High School and Saraswat Vidhyalaya Higher Secondary School were recently sanctioned different amounts based on their request applications to the GEDC seeking funds.
“Once the construction begins, our inspection team will conduct site inspection and submit a report to the committee. The first instalment will thereafter be released. The three institutions are eligible to get the funds and as such, we have asked the respective managements to begin the work. Funds cannot be released if work does not commence,” GEDC Chairman Kanta Patnekar told Herald.
Of the nine institutions, Mushtifund Saunstha, Panjim, Harmal Panchakroshi Shiskshan Mandal, Shree Mangirish Vidyadayini Samstha V D & S V Wagle HS, Manguesh and Dr K B Hedgewar Shishan Prasarak Mandal, Panjim – were given the second instalment cheques earlier this month. Whereas Dempo Charities Trust’s HSS, DSC’s St Andrew’s HSS, Vasco; Goa Vidya Pratishthan Shree Ganesh Vidya Mandir (Primary) & Shree Ganesh HS, Ganeshpuri, Mapusa; and Dr K B Hedgewar HSS received the first instalment.
Patnekar explained that the loan-cum-grant scheme is released in three stages: 30 percent of the total funds followed by 50 percent based on the utilization certificate and finally the remaining 20 percent, after certifying, the institutions have utilized the previous two instalments.
As per the scheme, a primary school gets a maximum Rs 50 lakh, secondary school Rs one crore and higher secondary school Rs two crore. “The composite schools get Rs 3.50 crore,” he added. The scheme, introduced by the BJP-led coalition in 2004 is in its 11th year.
Fifty percent of the total funds distributed are in the form of grants and the remaining is an interest-free loan. “The loan has to be re-paid at Rs 278 per lakh spread over 15 years. The re-payment begins only after nine months of availing the funds.
