GUWAHATI: With a focus on building public transport and entrepreneurial spirit across the State, the Government of Assam along with Assam State Transport Corporation (ASTC) has developed the 'Urbanization Scheme' to promote and ensure the sector has a bright future.
It is a beneficiary-oriented scheme of the Government of Assam, implemented by ASTC where many residents of Assam who is creditworthy to get a loan from the bank for purchase of bus are eligible to apply. The selected beneficiaries will be given up to 25 per cent of the total cost of purchased bus, partly as subsidy and partly as interest free loan. The beneficiaries must contribute minimum 10 per cent of value of the bus and remaining 65 per cent of the value will be arranged through financers. The buses will be operated under ASTC as per POB rules, stated a release.