YSR Badugu Vikasam Scheme:- The government of Andhra Pradesh has started the YSR Badugu Vikasam Scheme for the SC, ST, and other backward categories communities of the state. Under this scheme, the state government will help the entrepreneurs in various aspects such as subsidies for electricity bills, land to set up industries, etc.
Today in this article we are going to discuss everything about the scheme like its eligibility criteria, required documents, objectives, benefits, important highlights, the application process, etc. So to know more stay connected with us.
YSR Badugu Vikasam Scheme
on 26 October 2020, the YSR Badugu Vikasam Scheme was introduced by the chief minister of Andhra Pradesh Mr. Jagan Mohan Reddy. This scheme is for families who belong to scheduled castes, scheduled tribes, and other backward categories. Under this scheme, the state government will provide assistance to the entrepreneurs, to stat their business.
Under this scheme, the state government will provide subsidies for electricity bills, reserved land to set up industries and business, etc. this scheme, 16.2 percent of the plots will be reserved for Scheduled Castes and 6 percent for Scheduled Tribes.
SC and ST entrepreneurs setting up manufacturing units will get an investment subsidy of 45 percent with a limit of Rs one crore. entrepreneur Facilitation Cell will be formed in all District Industry Centers for help. Entrepreneurship development programs will be run to provide the necessary capabilities and skills.
| About | YSR Badugu Vikasam |
| Started By | Government Of Andhra Pradesh |
| Started On | 26 October 2020 |
| Concerned Authority | Y.S.R. Badugu Vikas, Government of Andhra Pradesh |
| Objective | Providing industrial benefits to SC and ST |
| Beneficiary | ST, SC Community Of Andhra Pradesh |
| Official Website | Click Here |
Objectives Of YSR Badugu Vikasam Scheme
The objectives of the YSR Badugu Vikasam Scheme are:
- To provide a better environment and equal opportunities to all the people of different castes and creeds.
- To encourage the SC and ST entrepreneurs of the state.
- To uplift the social and economic condition of the families who belong to scheduled castes, scheduled tribes, and other backward categories.
Key Points & Benefits Of YSR Badugu Vikasam Scheme
- YSR Badugu Vikasam Scheme was introduced by the chief minister of Andhra Pradesh Mr. Jagan Mohan Reddy on 26 October 2020.
- SC and ST communities of Andhra Pradesh can avail the benefits of this scheme.
- 25 paise increase in reimbursement of electricity duty per unit under this scheme, 10 percent increase in investment grant.
- 9 percent increase in interest subsidy for Micro, Small and Medium Enterprises (MSMEs).
- Under this scheme, SC and ST entrepreneurs setting up manufacturing units will get an investment subsidy of 45 percent with a limit of Rs one crore.
- The subsidy amount has been fixed at Rs 75 lakh for units related to the service sector and transport.
- Under Badugu Vikasam, the interest subsidy for MSMEs which was fixed at 3% in the industrial policy has been increased to 9% and and power cost reimbursement has been increased to Rs 1.50 per unit.
- Seed capital assistance of 25% will be provided for machinery for first-generation entrepreneurs establishing micro-units.
- 16.2 percent of the plots will be reserved for Scheduled Castes and 6 percent for Scheduled Tribes.
- Scheduled Caste and Scheduled Tribe entrepreneurs have to pay only 25% of the actual land cost upfront and the balance amount can be paid in 8 years with 8 percent interest.
- Entrepreneur Facilitation Cell will be formed in all District Industry Centers for help.
- Entrepreneurship development programs will be run to provide the necessary capabilities and skills.
- The government will conduct field studies to identify capacity building, skill development training programs, future-ready investment opportunities, and various marketing opportunities for SC and ST entrepreneurs in the respective sectors.
Eligibility Criteria
The eligibility criteria for the YSR Badugu Vikasam Scheme are as follows:
- The applicants should be permanent residents of Andhra Pradesh State.
- The candidates should belong to the SC/ST Communities of the state.
- Applicants must belong to weaker sections of society.
- SC and ST entrepreneurs are required to pay only 25 percent of the land cost upfront and the balance payment can be made in 8 years with 8 percent interest after the commencement of commercial production.
Documents Required
The following documents are needed to apply for the YSR Badugu Vikasam Scheme:
- Residence proof of the applicant
- Aadhar Card.
- Caste Certificate.
Application Procedure Of YSR Badugu Vikasam
This is a new scheme started by the government of Andhra Pradesh. The A.P. government has not released any information about how to apply for the Badugu Vikasam Scheme. As soon the administration provides any kind of update regarding the application process we will notify you.
NOTE:- Stay connected to our website Yojanasarkari for information about any scheme related to the Central Government and State Government.
