Swami Vivekananda Assam Youth Empowerment Scheme: Online Registration

A youth empowerment scheme was launched by the Finance Minister of Assam state on 7th February 2017. It was a main and important program to provide proper facilities to all of the youth of Assam state. This scheme will help in generating activities which will help in supporting the youth of the state. In this article today, we will provide you with all of the details regarding the Swami Vivekananda Assam Youth Empowerment Scheme which has been launched by the concerned authorities of the Assam government. We will also share with you all the eligibility criteria of the scheme in which 50000 rupees will be provided to 2 lakh youth. Step by step application procedure is also included in this article.

Assam Swami Vivekananda Youth Empowerment

Swami Vivekananda Assam youth empowerment scheme was launched in the year 2017 originally but now the scheme has been re-launched by the finance minister of the Assam state. Rupees 1000 crore has been finalized to be sanctioned in the scheme for the young youth of the Assam state. Around 2 lakh youth of the state will be benefited through this scheme. 50000 rupees will be provided to each beneficiary under their scheme. In the year 2017 and 18 around 7000 beneficiaries were included in the scheme. In the year 2019, around 1,500 people were benefited from the same scheme.

Objective of Swami Vivekananda Assam Youth Empowerment

The main objective of launching the scheme is to provide proper employment opportunities to the people of the Assam state. Through the Swami Vivekananda Assam Youth Empowerment Scheme Many employment opportunities will be generated in the ruler as well as the urban areas of the Assam state. New businesses and ventures will be able to set up and the growing ventures will be able to grow their value. People will be provided financial assistance so that they can invest their funds in micro and small businesses. More and more people will be encouraged to take part in manufacturing and trading. The income level will be enhanced by the traditional artisans of the Assam state.

Details Of Swami Vivekananda Assam Youth Empowerment

Name	Swami Vivekananda Assam Youth Empowerment Scheme
Start Date of Online Registration	16th Sep 2020
Launched by	Assam Government
Benefit	Providing 50000 rupees to youth
Launched for	The youth of the state
Official site	https://assam.gov.in/en/main/SVAYEM

Benefit Of Swami Vivekananda Assam Youth Empowerment Scheme

Rupees 50000 will be provided to all of the beneficiaries who will take part in this Swami Vivekananda Assam youth empowerment scheme. Proper measures will be provided so that all of the people can grow their individual businesses. Small and regional businesses will be provided with proper facilities so that they can grow their sales and provide a wide range of products in the country. Exposure will be provided to all of the small and regional artisans of the Assam state. People will be able to take up small activities and make them big by their investments and proper financial funds.

Activities Included

The following activities has included in the new Assam Youth Empowerment Scheme: –

• Manufacturing
• Processing
• Service sector
• Trading
• Rural Transport Service (Auto Rickshaw, e-Rickshaw)
• Tourism
• Shops, repairing centers, handicraft, Cottage Industries etc.

Eligibility criteria

The applicant must follow the following eligibility criteria while applying for the recruitment: –

• The applicants must be residents of Assam
• The applicant must be above 18 years of age.
• There is no income ceiling for getting assistance under this scheme.
• The individual beneficiary should have skills, experiences, knowledge, etc., to undertake the income-generating activities.
• The beneficiary should possess the educational qualification of at least Class standard.
• The beneficiary completed Skill Development Training will get preference.
• A beneficiary must not be the defaulter of any loan.
• If the information submitted by the beneficiary is found to be incorrect later, action would be taken against the beneficiary including cancellation of the loan, recovery of amount as Bakijai and also blacklisting for future benefit under any Government Scheme.
• PMEGP beneficiaries of the last 5 years will not be eligible under the scheme.

Nature Of Financial Assistance

• First of all, the state government will request all of the private, public and rural banks to provide assistance under this scheme.
• One lakh rupees will be provided to the new entrepreneurs of the state
• Up to 200000 will be provided for the existing entrepreneurs.
• The beneficiary will only give 25% of the total cost
• Banks will be free to give loans
• If the beneficiary has taken 100000 as a loan then 25000 will be given by the beneficiary himself.
• 20000 rupees subsidy will be provided on one lakh rupees loan
• 55000 rupees will be the loan amount from the bank in 1 lakh.
• 200 crore rupees have been allocated for this scheme.

Institutional & Implementing Arrangement

The institutional and implementing arrangements under this scheme are as follows: –

• Nodal department for the scheme is Industries and Commerce Department.
• The scheme will be implemented by the District Industries and Commerce Center in the field
• The private bank, public bank and regional rural bank will be the leading agency in the scheme.
• All of the banks will execute a memorandum to implement the scheme.

Bank finance

The procedure related to the banks in this scheme are as follows: –

• The bank will donate around 55% of the project cost under this scheme.
• Bank will also support the capital carefully through loans
• Bank will give working capital also
• The beneficiary will have to submit 25% of the project cost after the loan in the bank
• After the receipt of a subsidy, the bank will release the loan amount.

Interest Rate And Repayment Schedule

The interest rate and repayment schedule in this scheme are mentioned below: –

• The interest rate will be charged as per the guidelines issued by the Reserve Bank of India.
• The repayment schedule will be between 3 to 7 years after the final moratorium
• The final moratorium will be described by the financial institutions.

Procedure Of Approval

The procedure of approving the loans in this scheme is mentioned below in a step-by-step guide: –

• Advertisements will be made possible in different districts of the state.
• All of the applications will be invited through these advertisements
• Beneficiaries will have to submit their application to the district level.
• The applications will be received through online procedure.
• Once the application is submitted the General Manager of the district-level committee will scrutinize them.
• The committee will examine the application.
• The confirmed application will be recommended to the bank.
• The final decision will be made by the bank.
• After the proposal is selected loan will be released in 5 working days
• The bank will then submit the margin money subsidy proposal against the borrower.
• Finally, the status will be updated on the MIS system.

Application Procedure of Swami Vivekananda Assam Youth Empowerment

To apply for the scheme you will have to follow the step-by-step application procedure given below: –

• Fill in all of the details asked in the application form
• Attach all of the documents in the application form
• Submit it to the District Level Committee (DLC)