MUMBAI: In its outreach towards minorities, the state cabinet decided to increase the state share capital of the Maulana Azad Minorities Financial Development Corporation from Rs 700 crore to Rs 1,000 crore.
In the budget tabled in July, the state had hiked the loan guarantee given to the corporation from Rs 30 crore to Rs 500 crore. The corporation provides loans to minorities including student loans, term loans and microfinance.
The state cabinet also raised the salary of B Ed and D Ed teachers in madrassas who are hired on contract to teach subjects like Math, Science and Hindi which are outside the traditional syllabus. The remuneration of D Ed teachers will double from Rs 6,000 to Rs 12,000 per month.
That of BA and B Ed teachers will rise from Rs 8,000 to Rs 18,000 per month. Muslim voters had turned against the governing parties in the Lok Sabha polls and this outreach is seen as an attempt to woo the community.
