Up to Rs 4 lakh aid for self-employment; 100% subsidy for small units, minor irrigation
The state government on Tuesday released operational guidelines for the implementation of Rajiv Yuva Vikasam, aimed at promoting self-employment from BC, SC, ST, minority, and EBC (EWS) communities.
The scheme extends financial assistance of up to ₹4 lakh per individual to facilitate the setting up of self-employment ventures. According to the guidelines, the scheme offers varying levels of subsidy based on the cost of the unit proposed by the applicant:
For units costing up to ₹50,000, the government will provide 100 per cent subsidy. It is 90 per cent for units costing between ₹50,001 and ₹1 lakh, the rest 10% to be financed through bank loans.
For units priced between ₹1,00,001 and ₹2 lakh, the subsidy component is 80 per cent, with 20 per cent financed by bank loan. For units ranging from ₹2,00,001 to ₹4 lakh, the government will bear 70 per cent of the cost, the rest coming from bank loan.
Additionally, 100 per cent subsidy will be granted for minor irrigation projects, irrespective of unit cost.
To ensure the scheme reaches the genuinely needy, income limits have been set, which include ₹1.5 lakh per annum for applicants in rural areas and ₹2 lakh per annum for those in urban areas.
Applicants can submit either their ration card or income certificate to verify eligibility. Age criteria for applicants are 21 to 55 years for non-agriculture-based schemes and 21 to 60 years for agriculture and allied sectors.
