The Hon. Finance Minister of Assam declared the Swami Vivekananda Assam Youth Empowerment (SVAYEM) Yojana during his budget statement on February 7, 2017, is a flagship program to provide financial assistance to Assamese youth interested in pursuing careers in trade, manufacturing, or services.
Under this renewed SVAYEM Scheme, Goverment will provide Rs. 50,000 each to 2 lakh youth to encourage entrepreneurship.
Highlight of SVAYEM Scheme 2020 :
Scheme Name : Swami Vivekananda Assam Youth Empowerment (SVAYEM) Scheme
Launch Date: 16th September 2020
Total No of beneficiaries: 2 lakh
Launched by: Goverment of Assam
Amount: Rs. 50,000/- per youth
Objectives of SVAYEM Scheme :
a. To create jobs in both urban and rural areas by expanding already-existing businesses and starting new ones.
b. To offer financial support to micro and small businesses operating in the commerce, manufacturing, and service industries.
c. To offer financial support to traditional artisans in order to raise their income levels and ensure their sustainable growth.
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Area of implementation
All districts of Assam including autonomous district councils
Nature of activities:
a. Manufacturing
b. Processing
c. Service Sect
d. Trading
e. Rural Transport Service (Auto Rickshaw, e-Rickshaw)
f. Tourism
g. Cottage Industries, Handicraft, Repairing Centers, Shops, etc.
Negative list of activities
a. Manufacturing of intoxicant items
b. Beedi, Panmasala, Cigarette, etc.
c. Sales outlet of Liquor
d. Plastic bags below 40 microns
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Eligibility criteria for the beneficiary
a. People living in Assam who are older than 18.
b. There will be no income ceiling for getting assistance under this scheme.
c.The age of the applicant must be less than 40 years.
d. The candidate ought to participate in the current Joint Liability Groups, Self Help Groups, etc. before 1 September 2020.
e.He / She must have passed matriculation.
For more Information visit the Official site
Benefits under SVAYEM Scheme 2020
a.Rs. 50 thousand will be provided as a seed money to every person participating in the updated Swami Vivekananda Assam Youth Empowerment (SVAYEM) Yojana.
b.While the groups with five members (Rs 50,000 per head) would be entitled for Rs 2.5 lakh, groups with 10 members would be entitled for Rs 5 lakh and so on with the maximum limit for members being 20.
c. The initiative would have a total budget of Rs. 1000 crore, all of which will come from government funding. All members of self-help organizations, joint liability groups, and other federations and groupings of similar nature that have organized for entrepreneurial ventures would be among the beneficiaries.
Online Form for SVAYEM Scheme 2020
The new online portal for filling the SVAYEM Scheme Assam online application / registration form will be launched on 16 September 2020.
