Assam Youth Empowerment Scheme is bliss for all the youths of Assam, especially in the current scenario. Corona virus Pandemic had resulted in chaos and distress around the globe. Many businesses got shut down; people were unemployed, and the maximum of them lost their only means of livelihood. Schemes like this are the only way out in these dull phases.
Assam Government has already done wonders by initiating social welfare schemes; this is one of them. Swami Vivekananda Assam Youth Empowerment scheme is the most efficient machinery t0 ensure the employment opportunities and means of livelihood for the youths of Assam. The plan aims to secure millions of youths’ lives and bring them closer to society’s progressing phase. The scheme seeks to include rural and urban areas under their welfare scheme. Not just this, it has also taken a step ahead in providing financial assistance to small and micro-businesses.
Swami Vivekananda Assam Youth Empowerment Scheme has played a crucial role in Assam people’s lives by far. It is still adamant about doing noble deeds towards society and achieves employment opportunities for all. Its primary focus is to divert the youths’ attention towards income-generating activities that could significantly impact the Nation’s progress. We shall combine all our efforts with the SVAYEM scheme and turn this dream into a reality.
Assam Youth Empowerment Scheme or SVAYEM Yojana, announced by the Finance Minister of Assam in his budget speech on 7th Feb 2017, financially supports a flagship program for the youths of Assam to income-generating activities in manufacturing, trading, and service-related sectors. The Government of Assam has initiated Swami Vivekananda Assam Youth Empowerment Yojana (SVAYEM).
Under the current scheme, State Govt. shall lend financial assistance and provide Rs. Fifty thousand each to 2 lakhs youth to encourage entrepreneurship. Initially, the plan was initiated and managed by the Dept. of Industries & Commerce, Assam; this year (2020), the said scheme got implemented under State Finance dept., Govt. of Assam and other nodal agencies. It is an endeavor to support local industries and strengthen the rural economy. It primarily focuses on income-generating activities like manufacturing, trading, and the service sector.
Swami Vivekananda Assam Youth Empowerment Scheme focuses on developing an entrepreneurship-oriented ecosystem in the State. To date, 95930 groups have been registered, and 62295 applications have been submitted.
Under the scheme, the Assam Government shall assist the following groups:
Objectives of the Swami Vivekananda Assam Youth Empowerment scheme include:
Beneficiary guidelines are as follows:
Steps to apply online shall include:
Step 1- The applicant needs to visit the Official Website of the Swami Vivekananda Assam Youth Empowerment Scheme, which is https://assam.gov.in/.
Step 2- The Applicant is required to click on the Option “Application Form for SVAYEM Scheme” link on the Homepage.
Step 3- The application Form page shall be displayed on the screen, after which the applicant will have to take the print out of the same.
Step 4- The applicants then need to fill in the required details and Attach all of the application form documents. Other supporting documents need to be uploaded online also.
Step 5- The General Manager, DICC, will scrutinize the online application and forward it to the District Level Committee for its approval.
Step 6- District Level Committee will further examine the application and recommend it to the bank for consideration.
Step 7- Bank will further take its credit decision based on the viability of the project. They will appraise the project technically and economically with the approved project cost of DICC & will accordingly issue sanction of the proposal within thirty days.
Step 8- After sanctioning the bank’s proposals, the loan is released naturally within five working days after the deposit of promoter contribution & receipt of subsidy claim, whichever is later.
Step 9- After the loan is sanctioned, the bank will submit the Margin Money Subsidy proposal against the borrowers to a Nodal Bank as approved by the Assam Government. The Finance Department will execute an MOU with the Nodal Bank to release the Margin money amount to the Financing Bank Branch.
Step 10- Bank will then update the status of the online MIS system of the scheme.
Essential documents under the scheme include:
Nature of activities includes:
All Public Sector, private, and Regional Rural Banks provide financial aid/assistance under the SVAYEM Scheme. The new entrepreneur’s quantum loan is Rs. 1 lakh & Rs. 2 lakh for existing entrepreneurs.
Aatmnirbhar Sena is all set to equip Assam Government with all the necessary and essential frameworks to implement it. We shall lend our full-fledged service and assistance towards the betterment of society by encouraging the entrepreneurship ecosystem. We encourage the budding entrepreneurs and the existing ones towards opting for income-generating activities.
We shall lend all possible mechanisms to make the people of Assam aware of the scheme and make most of it. We aim to promote employment activities and related opportunities; we shall also conduct a workshop, mentorship programs, etc., to make today’s youths ready for upcoming challenges. We shall bring the change desired severely in the current scenario.
Swami Vivekananda Assam Youth Empowerment Scheme has played an exemplary role in the State by extending its benefits. The scheme has managed to provide stability by ensuring employment opportunities for the youths and providing financial assistance. The current plan is a blessing in disguise and has proved its mettle in all manners.