The Assam government on September 4 has decided to re-launch an old scheme. The main aim of the scheme is to provide self-employment to around 2 Lakh youths of Assam. The scheme named as Swami Vivekananda Assam Youth Empowerment (SVAYEM) is worth Rs. 1000 crore. The scheme will provide Rs. 50,000 each to 2 Lakh youths to start business ventures.
This scheme was a part of the BJP-led government’s budget speech in 2017-18. However, instead of benefitting 1 Lakh youths as planned, the government managed to get only 7000 beneficiaries due to the lack of support from banks.
Assam government will redesign the SVAYEM scheme with a budget of Rs. 1000 crore. The whole amount will be spent within the next three months without any banking linkage. The 2 Lakh beneficiaries must, however, be part of self-help groups, joint liability groups, etc. before September 1.
Groups seeking to avail benefits must register themselves at a new portal. The launch of the new portal will be on September 16. According to Finance Minister, Himanta Biswa Sarma the scheme could get repeated annually. Also, there is a possibility that there will increase in the number of beneficiaries. To claim the benefits, the applicants must be below 40 years of age and also should be part of existing self-help groups.
According to sources, this scheme will be the biggest self-employment program by any government of Assam. The whole Rs. 1000 crore will come from the government’s own revenue without any banking linkage.
The government is also planning to provide Rs.50000 as a subsidy to anyone who has taken an education loan. However, due to the economic situation because of the COVID-19 pandemic, the launching of the scheme may not be possible in 2020.
Another scheme of Rs. 250 crores will transfer a sum of Rs. 3000 each to nearly 8 Lakh bank accounts. The amount will be transferred to the tea garden laborers in Assam.