Swami Vivekananda Assam Youth Empowerment Scheme

Swami Vivekananda Assam Youth Empowerment Scheme:-

The Government of Assam has introduced Swami Vivekananda Assam Youth Empowerment Yojana (SVAYEM) in the year 2017. Under the SVAYEM scheme, the Government provides financial support to the youth of Assam for taking up income-generating activities in the manufacturing, trading and service sector. The key objective of SVAYEM is to create employment opportunities for youth through setting up of new ventures and growing existing ventures. 

Objective of SVAYEM Yojana:

The main objective of Swami Vivekananda Assam Youth Empowerment Yojana are as follows :-

• To create employment opportunities for youth in rural and urban areas of Assam through setting up of new ventures and growing existing ventures.
• To provide financial assistance to micro and small enterprises in Assam. MSE should be engaged in the manufacturing, trading and service sector
• To enhance the income level of traditional artisans of Assam by providing financial credits
• To ensure sustainable growth of traditional artisans in the state of Assam

Activities Under SVAEM Yojana:

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Income-generating activities which can be supported under SVAYEM Yojana are listed below :-

• Manufacturing
• Trading
• Processing
• Rural Transport Service such as Auto Rickshaw, E-Rickshaw
• Service Sector
• Tourism
• Shops, repairing centers, Handicraft, Cottage Industries

Who can apply for this scheme:

Some eligibility criteria for this scheme are as follows:-

• The youth must be a Resident of  Assam
• Age of the youth should be above 18 years 
• To get assistance under this scheme, there will be no income for youth
• Every youth should have skill, experience and knowledge to undertake the income-generating activities
• Education qualification of the youth should be above class VII
• The applicant who has already completed Skill Development Training will be given preference 
• If the beneficiary is a defaulter of any loan, he is not eligible for SVAYEM scheme
• (PMEGP) beneficiaries of the last 5 years will not be eligible under the scheme

How to apply for this scheme:

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• The applicant should fill the application form for SVAYEM scheme official website
• Submit the application form along with all supporting documents to the district office.
• General Manager, DICC will scrutinize the application and forward to the District Level Committee (DLC) for approval.
• DLC will examine the application for the loan and recommend to the corresponding bank.
• Bank will appraise the project both technically and economically, with the approved project cost of DICC.
• Bank will issue sanction within 30days according to the proposal.
• After deposit of promoter contribution by the applicant and receipt of subsidy claim, the loan will  release to the beneficiary within 5 days.

Documents Required for the scheme:

• SVAYEM Application Form 
• Applicant should submit a project or scheme report for the proposed project ( Report should contain details of technical and economic viability)
• Identity Proof
• Proof for qualification of VII Standard
• Age Proof 
• Experience certificate if applicable
• Skill Development Trainee Certificate if Applicable
• Residence Proof
• Nation food security card if applicable
• Copy of business license
• Copy of business registration certificate 
• Ownership identity documents

SVAYEM Scheme Features:

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Some of the key features of this scheme are as follows:-

• This scheme will assist around 2 lakh young people in the state.
• A total of RS 1000 crore has been decided to be disbursed in the scheme for Assam’s young people
• Each beneficiary will receive RS 50,000 as part of their scheme.

Bank Finance:

 

Rate of interest and repayment schedule :

SVAYEM Scheme’s interest rate and repayment schedule are as follows “-

• The interest rate will be charged under Reserve Bank of India norms. After the final moratorium, the repayment plan will be between 3-7 years.
• The final moratorium will describe by the financial institutions.

SVAYEM scheme approval procedure:

 

Contact Details :

For any queries or details which you want to know regarding the SVAYEM Scheme feel free to contact us on the below-given details

Address:

• Administration Secretariat
• Assam Secretariat,
• Block ‘A’, 2nd Floor Dispur,
• Guwahati, Assam-781006
• Phone Number: 0361-234567
• Email Id: sad@assam.gov.in

MORE INFORMATION YOU CAN VISIT THIS OFFICIAL WEBSITE

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