Assam CM rolls out financial aid scheme to help youths set up business

In a move to fuel growth through self-employment, Assam Chief Minister Himanta Biswa Sarma on Saturday launched a scheme to help youths set up their own ventures.

At a function here, Sarma rolled out the Chief Minister's Atmanirbhar Asom Abhijan 2023. He also launched a registration portal for the scheme.

Under the programme, financial aid will be given to two lakh youths for creating a robust entrepreneurial ecosystem, he added.

Speaking on the occasion, Sarma said, "The scheme has been designed to create self-employment avenues to enable the youths to fuel development of the state. It has the potential to strengthen rural economy."

He said that the unemployed degree holders in the fields of engineering, medicine, agriculture, animal husbandry and fishery will be kept in the first category and will be given Rs 5 lakh.

"On the other hand, unemployed postgraduates, general graduates, ITI, polytechnic passouts will be kept in the second category for government assistance of Rs 2 lakh," Sarma said.

In the first category, out of Rs 5 lakh, the beneficiaries will have to return Rs 2.5 lakh without any interest and the remaining amount will be government assistance, he added.

"Similarly, in the second category, Rs 1 lakh will be a government subsidy and the remaining Rs 1 lakh will have to be paid back by the beneficiary without any interest," Sarma said.

The chief minister said that under the scheme, targeted sectors will be agriculture and horticulture, stationery, poultry, dairy, goat farming, piggery, fisheries, packaging, readymade garments, fabrication, bamboo, rubber, agar and wood-based industries.

"One member from one family shall be eligible for the scheme and the applicant will be registered with the employment exchange," he said.