Swami Vivekananda Assam Youth Empowerment Scheme
The Swami Vivekananda Assam Youth Empowerment (SVAYEM) Scheme is a flagship initiative of the Assam government that provides financial assistance to Assamese youths who want to start businesses in the manufacturing, commerce, or service sectors. In the year 2017, this programme was introduced.
This initiative was formerly launched and maintained by the Assam Department of Industries and Commerce however, this year (2020), the scheme will be handled by the State Finance Department of the Government of Assam with the assistance of other nodal agencies. The terms and circumstances of this plan were initially different, but this year the entire scheme has been revitalised to match the present situation and requirements of society.
Objectives of SVAYEM Scheme 2020
To create jobs in both rural and urban regions by starting new businesses and expanding current ones.
To support micro and small businesses in the manufacturing, trading, and service sectors with financial assistance.
To give financial help to traditional artisans in order to increase their revenue and ensure long-term growth.
List of activity under SVAYEM Scheme 2020
Nature of activities:
- Manufacturing
- Processing
- Service Sector
- Trading
- Rural Transport Service (Auto Rickshaw, e-Rickshaw)
- Tourism
- Shops, repairing Centres, Handicraft, Cottage Industries etc.
Negative list of activities:
- Manufacturing of intoxicant items
- Beedi, Pan Masala, Cigarette, etc.
- Sales outlet of Liquor
- Plastic bags below 40 microns
Eligibility Criteria for SVAYEM Scheme 2020
To be eligible for the SVAYEM Scheme in Assam, all candidates must meet the following criteria: -
a) The applicant must be a permanent resident of Assam.
b) The applicant’s age must be under 40 years old.
b) He or she must have completed high school.
d) Before September 1, 2020, the applicant must be a member of one of the current Self Help Groups, Joint Liability Groups, or other similar organisations.
Benefits under SVAYEM Scheme 2020
Under the revised Swami Vivekananda Assam Youth Empowerment (SVAYEM) Yojana, each individual would get Rs. 50,000 as seed money.
While groups of five people (Rs 50,000 per person) would be eligible for Rs 2.5 lakh, groups of ten people would be eligible for Rs 5 lakh, and so on, with a maximum of 20 people.
The scheme’s overall budget is Rs. 1000 crore, with all funds coming from the government.
All members of self-help organisations, joint liability groups, and other similar groupings and federations that have organised themselves for entrepreneurial ventures would be beneficiaries.
