Guwahati, May 16: Kamrup (M) district administration is all set to implement Swami Vivekananda Assam Youth Empowerment (SVAYEM) Yojana to empower the youths of the state, said a government release. According to the release, as many as 838 numbers of applications have been submitted in the District Industrial Centre (DIC) till date to avail the benefits under SVAYEM Scheme.
The District Development Commissioner (DDC), Kamrup (M) Dr. Bijoya Choudhury reviewed the progress of implementation of the scheme with officials of DIC today in her office chamber. In the review meeting, General Manager, DIC Kamrup P.K. Bora and Project Manager of the scheme M. D. Hazarika apprised the DDC about the progress of the scheme. The release said that the administration has targeted 4018 beneficiaries from the district for the year 2018-19.
It is worth mentioning that SVAYEM Yojana announced by the Finance Minister in his budget on February 7, 2017 is a flagship program to provide financial support to the youths of Assam to take up income generating activities in the manufacturing, trading and service sectors. Under this scheme about one lakh youth of the state is targeted to be provided suitable credit support for taking up income generating enterprises. Under the scheme, a loan amounting to Rs one lakh will be provided for a new entrepreneur and Rs two for existing entrepreneur. Beneficiaries’ contribution will be 25% of the project cost while bank will provide a loan of 55% of the project cost. Government subsidy will be 20% of project cost. Youth of 18 years of age and Class VII passed is eligible to apply under the scheme.