swatantra yuva udyami yojana:-
The Odisha state cabinet has approved the SWAYAM Yojana (Swatantra Yuba Udyami Yojana). This program was designed to involve the state’s urban and rural youngsters in the state’s new economic and commercial resurgence. To learn more about the Odisha SWAYAM Scheme, read this article till the end.
swatantra yuva udyami yojana 2024
The Odisha government has introduced a new initiative, the Swatantra Yuba Udyami Yojana(ସ୍ୱାଧୀନ ଯୁବ ଉଦ୍ୟୋଗୀ ଯୋଜନା), aimed primarily at the state’s young. The state administration intends to involve one lakh qualified kids from both urban and rural regions in the initial phase of this initiative. Swatantra Yuba Udyami, often known as SWAYAM, is a historic initiative for the state’s youth. The move was implemented primarily to facilitate self-employment.
| Article About | Swatantra Yuba Udyami Yojana |
| Launched by | Odisha Government |
| Beneficiaries | State’s youth |
| Benefit | Interest-free loans for businesses of up to 1 lakh |
| Objective | To provide Interest-free loans |
| Budget allocated | Rs 448 crore |
| Official Website | Not yet launched |
| State’s Govt. Official Website | odisha.gov.in |
Odisha Swatantra Yuva Udyami Yojana Objective
The interest-free loan will be used to start micro-businesses and ventures that create money in line with their aptitude, skills, training, and local conditions. The state administration wants to enroll one lakh eligible kids from both urban and rural regions in the first phase of this initiative.
Odisha Swatantra Yuba Udyami Yojana Benefits
- This project is open to young men and women aged 18 to 35 who are either jobless or underemployed.
- This yojana would grant interest-free bank loans of up to Rs 1 lakh to help entrepreneurs start their businesses.
- The state government would spend Rs 448 crore from its budget on this scheme.
- In addition to the 85% loan guarantee already available to micro and small businesses, the state government will give an additional 15% loan guarantee through the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE).
- The state government will bear the whole interest burden on the loan.
- The state government will also fund the yearly CGTMSE guarantee costs.
Eligibility Criteria
- The applicant’s age must be between 18 and 35 years.
- Both men and women are eligible for this yojana.
- The age range for Scheduled Tribes and handicapped groups has been expanded to 40 years.
- The applicant’s family must either earn less than 2 lakhs per year or be qualified for coverage under the Kalia or BSKY plans.
- If the applicant has previously missed payments on a loan from a bank or another financial institution, or if they owe money under any Central or State Government initiative, they will be ineligible for the benefits of this plan.
- Employees in the central, state, or municipal governments, as well as Employees of constitutional bodies and their families, are not eligible for this loan.
- If one family member receives this benefit, the other will be unable to do so.
Required Documents
- Aadhar card
- PAN card
- Domicile certificate
- Passport size photograph
- Bank account
- Mobile number
Odisha Swatantra Yuva Udyami Yojana Online Application Process
The government has yet to notify the official website of this yojana. Once the government has announced its official website, all qualified candidates can visit there and fill out the form. However, the general application process for the plan is given below.
- First, visit the Swatantra Yuba Udyami Yojana official website.
- The homepage will open on your screen.
- On the homepage, click on the register here to apply option.
- An application form page will be open.
- Enter all the required details like name, father’s name, age, date of birth, address, etc in this application form.
- After that, upload all the required documents.
- Before submitting the form, check all the entered information carefully.
- Finally, click on the register option.
- After successful registration, you can now apply for the scheme
