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Assam to give financial aid to 2,00,000 youths to boost entrepreneurship

GUWAHATI:   Assam government in a bid to ‘encourage entrepreneurship’ has decided to provide Rs 50,000 each to 2,00,000 youths of the state Finance Minister Dr Himanta Biswa Sarma announced today.

The Minister told media today that Rs 50,000 to 2,00,000 youths would be given under the revamped “Swami Vivekananda Assam Youth Empowerment (SVAYEM)” Yojana, which was originally launched in 2017-18.

“Rs 1,000 crore has been earmarked for this scheme. It would continue for an indefinite period,” Sarma added.

The financial assistance would be provided to the members of 10-member self-help groups or joint liability groups registered before September 1. Each of such groups will thus have a combined working capital of Rs 5 lakh.

Youths below the age of 40 years and with a minimum qualification of matriculation would be considered eligible for this Yojana.

“After launching the Yojana under the Industry and Commerce Department in 2017-18, the initial target was one lakh youths. Due to some technical reasons, the target was not fulfilled and the desired goal was not achieved.

“Hence, the state government launched the revamped SVAYEM,” the Minister said.

The minister clarified that the eligible groups of youth are not necessary required to submit proposals on enterprises only in agri and horticulture sectors, but they can submit proposal for undertaking jobs of contracts in various government departments like PWD, DRDA etc.

Source: The Shillong Times

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