The scheme, aiming to ushering entrepreneurship in the state, will give Rs 50,000 each to selected youths
Guwahati: Assam government has re-launched Swami Vivekananda Youth Empowerment Yojana (SVYEM) to 2 lakh youths of the state, announced finance and education minister Himanta Biswa Sarma on Friday.
The scheme, aiming to ushering entrepreneurship in the state will give Rs 50,000 each to selected youths. This comes months ahead of the 2021 state assembly elections.
Sarma, while making the announcement said, "We are launching the redesigned SVAYEM with a budget of Rs 1,000 crore that will be spent in the next three months without any banking linkage."
He added that the 2 lakh beneficiaries would have to be part of self-help groups, joint liability groups, etc. before September 1 to avail it.
Subsequently, a aprtal will belaunched on Spetember 16, where these groups will have to get themselves registered.
These groups will be given free contracting licence to pick up work in departments like Flood Control, PWD etc. To avail these benefits, the applicants would have to be below 40 years of age.
Also, under the Abhinandan Education Loan Subsidy Scheme will be relaunched, under which, students who have taken education loans at any point of time will get a subsidy of Rs 50,000.
The minister informed that last year 1,545 persons had benefited from the scheme. However, due to the pandemic, the scheme was not launched this year.
The state already has 5,547 approved applications. And those wanting to avail it can apply again.
The amounts will be released next month, costing the exchequer Rs 25 crore, said Himanta Biswa Sarma.