Ahead of the upcoming Maharashtra assembly elections, the Mahayuti government has announced a substantial increase in funding for the Maulana Azad Minorities Financial Corporation (MAMFC). The state-run corporation, which supports economically disadvantaged minorities by providing loans for education and self-employment, will receive an additional ₹300 crore in grants. This boost comes as part of the government’s efforts to improve opportunities for minority communities across the state.
In a statement from the Chief Minister’s Office (CMO), it was revealed that the MAMFC’s capital has been raised to ₹1,000 crore, up from the existing ₹700 crore. Mushtaq Antulay, chairman of the MAMFC, welcomed the increase, stating that the additional funds would help uplift the lives of minority students through enhanced access to financial aid for education and self-employment initiatives.
Teachers at Madrasas Receive Significant Pay Raise
In another move aimed at supporting minority welfare, the state government has also doubled the pay for teachers providing formal education in madrasas. Under the Dr Zakir Hussain Madrasa Modernisation Scheme, which integrates formal academic subjects alongside religious education, teachers will now earn significantly higher salaries. D Ed teachers will see their monthly pay rise from ₹6,000 to ₹16,000, while BA, B Ed, B Sc, and B Ed teachers teaching secondary subjects will receive ₹18,000 per month, up from ₹8,000. A senior official from the State Minorities Development Department confirmed these increases, emphasizing that the government is committed to improving the quality of education within madrasas by attracting and retaining qualified educators through better compensation.
Modernising Madrasa Education
The Dr Zakir Hussain Madrasa Modernisation Scheme is a key initiative by the state government to revamp traditional madrasa education. Teachers under this scheme are hired on a contractual basis to provide formal instruction in subjects such as mathematics, science, sociology, and languages like Hindi, Marathi, English, and Urdu. This integration of formal education alongside religious teachings is intended to offer madrasa students a more comprehensive curriculum, preparing them for a broader range of opportunities in the future. The modernization efforts reflect the government’s aim to bridge the gap between religious and formal education, helping students develop a balanced skill set that can open doors to higher education and employment prospects.
New Schemes to Support Minority Entrepreneurs
In addition to educational reforms, the MAMFC will be launching new schemes designed to support minority entrepreneurs. One of the key initiatives is a 25% capital investment program, under which the corporation will provide up to 25% of the necessary capital for ventures valued at ₹5 lakh. The remaining 75% will be financed through nationalised or other banks, with a low interest rate of 4% for five years.