Guwahati: Assam Finance and Health Minister Himanta Biswa Sarma today announced the re-launch of Swami Vivekananda Youth Empowerment Yojana (SVYEM) under which Rs 50,000 each would be provided to two lakh youth of Assam. The scheme is to encourage entrepreneurship.
Groups under the scheme would be given free contracting licence to pick up work in departments like Flood Control, PWD. "Groups can pick where they want to work and they would be given free registration," the minister said announcing the new measures under the scheme at a press conference here.
All those Class X pass candidates can apply for the scheme. The age limit for the scheme has been fixed at 40 years. Existing self-help groups (SHGs) who already have bank accounts till September 1 too can apply for the scheme.
The minister clarified that the amount will be seed capital and not loan. Rs 1000 crore has been set aside for the scheme and the state government plans to continue with the scheme every year.
"This is the biggest self-employment programme launched by any government in independent Assam. The Rs 1000 crore will come from the state government's own revenue. We are working with the banks telling them that we are giving Rs 5 lakh as seed capital, you give 75% as loan so that ultimately it becomes Rs 25 lakh at some point of time," the minister said.