The state government of Assam has come up with an excellent Social Welfare Loan Scheme to encourage the youth of the state towards entrepreneurship. The Swami Vivekananda Assam Youth Empowerment Yojana is such a scheme that has been launched to provide financial assistance to the youth who wish to start their own business.
This is a very mammoth initiative taken by the state government of Assam. The programme has been planned with a huge budget in mind. The assigned amount of Rs. 1,000 crore for the SVAYEM Scheme Assam 2020-2021 will directly arrive from the state government’s revenue eliminating any banking linkage.
What is the SVAYEM Scheme Assam 2020-2021?
Often, the most creative minds tend to not take progressive actions due to the lack of money or the fear of losing their hard-earned money. The Swami Vivekananda Assam Youth Empowerment Scheme 2020-2021 aims to eliminate all such barriers in the paths of the young minds to take up huge steps into the corporate world.
The scheme will provide the investment money to the youths to take up income-generating activities. These actions could be regardless of the sector, say manufacturing, trading, or service sector. By utilizing this huge sum of money received under the SVAYEM Scheme, i.e, Rs. 50k, the selected youths will be able to start their business ventures.
What are the direct benefits of the SVAYEM Scheme Assam 2020-2021?
Under this SVAYEM Scheme Assam 2020-2021, the state govt. will provide Rs. 50,000 each to 2 lakh interested youth candidates. This sum of money will be given to the beneficiaries to start their own business and take up the professional line of entrepreneurship.
The redesigned SVAYEM Scheme Assam 2020-2021 has been planned to be launched with a budget of Rs. 1000 crore. This mammoth amount of project money is programmed to be spent in the next 3 months without any banking linkage. The 2 lakh beneficiaries under this scheme would mandatorily have to be part of any self-help group, or joint liability groups, etc.
[Apply] SVAYEM Scheme Assam 2020-2021 Registration Online
All the young candidates who are interested in the scheme can fill the Assam SVAYEM Scheme application or registration form online.
Under the SVAYEM Self Employment Scheme of Assam, interested youths and groups seeking to avail the financial benefits of the scheme will have to fill and submit their registration forms online on the official website of the scheme.
The interested candidates will have to register themselves at a new portal of the scheme. The new portal for filling the online application or registration form of the SVAYEM Scheme Assam online has now been launched.
You can even check the format of the registration form through the link given below:
All the interested candidates of the scheme must satisfy the criteria given below to be eligible to apply for the SVAYEM Scheme Assam 2020-2021:-
- The applicant must be a permanent resident of the state of Assam.
- The age of the applicant must not exceed 40 years.
- All the applicants must hold a pass certificate of matriculation i.e 10th class.
- Being a part of some existing Self Help Groups, or Joint Liability Groups etc. is a must for the applicant.
- The age of the applicant should be above 18 years
- To get assistance under this scheme, the applicant must have no source of income.
- Every youth who wishes to apply must have the skill, experience, and knowledge to successfully carry out the income-generating activities.
- The applicants who have already completed Skill Development Training will be given priority.
- The beneficiaries must not be the defaulter of any loan.
- PMEGP beneficiaries of the last 5 years will not be eligible under the scheme.
This redesigned SVAYEM Scheme Assam 2020-2021 is a very huge programme launched by the state government of Assam. It won’t be wrong to say it is the most crucial self-employment scheme launched by the state government of Assam since Independence.
Svayem Scheme Assam 2020-2021 Online Application Process
The application process of the SVAYEM Scheme Assam 2020-2021 is as follows:
- The interested candidate should first fill the application form for the SVAYEM scheme. Click this link for the application form: https://industries.assam.gov.in/sites/default/files/Application%20Form%20for%20SVAYEM%20Scheme_1.pdf
- The application form along with all the required documents needs to be submitted at the district office.
- The General Manager, DICC will then scrutinize the application and forward it to the District Level Committee (DLC) for approval.
- The DLC will then inspect the application for the loan and recommend it to the corresponding bank under the scheme.
- The project will then be both technically and economically appraised by the bank, with the approved project cost of DICC.
- Bank will then issue sanctions within a month depending on the nature of the proposal.
- The applicant will then need to deposit a promoter contribution and receipt of the subsidy claim.
- The loan will then be released to the selected beneficiary within 5 days.
The supporting documents to apply for the SVAYEM scheme are mentioned below for reference:
- SVAYEM Application Form that must be filled with correct information
- A project or scheme report as a proposal of the project (this report should contain all details of technical and economic viability)
- Identity Proof (Voter’s ID card, Driving License, PAN Card, Aadhaar Card, and Passport)
- Proof for Qualification of Matriculation, i.e. 10th class.
- Age Proof
- Experience certificate (if mentioned)
- Skill Development Trainee certificate (if the applicant claims to have trained under it)
- Domicile certificate or Residence Proof
- Business license (Xerox copy)
- Business registration certificate (Xerox copy)
- Ownership identity documents
What is the aim of the SVAYEM Scheme Assam 2020-2021?
The target of the Swami Vivekananda Assam Youth Empowerment Yojana is to generate employment opportunities for the youths both in rural as well as urban areas of the state. The scheme targets to help youth make progress through setting up new ventures as well as growing the already existing ones.
Under this scheme, financial benefits will be given out to small businesses and to start up new businesses as well. The business owners will be supported financially regardless of the sector their business venture is engaged in. The scheme will cover ventures all across the manufacturing, trading, and services sectors.
Above all else, the state govt. of Assam also promises to provide financial assistance to gradually enhance the income level of conventional craftsmen ensuring their sustainable growth.
It is also anticipated that Swami Vivekananda Assam Youth Empowerment Yojana may be repeated every once a year with the possibility of even increasing the number of beneficiaries.
All the Public Sector, Private Sector as well as Regional Rural Banks will provide financial assistance under this SVAYEM Assam Scheme 2020-2021.
Whom to contact for any inquiry?
The interested candidates and beneficiaries under the SWAYEM Assam Scheme 2020-2021 can contact the implementation agency at the state or district level for any kind of inquiry or confusion related to the scheme.
Other Related Links
You can check out the entire list of guidelines of the SVAYEM Assam Scheme at:
You can also check the guidelines and application form of the SVAYEM Scheme Assam 2020-2021 with the help of this link:
You can check out the other SVAYEM Scheme Details at the official Assam Govt. portal here – https://assam.gov.in/en/main/SVAYEM