Business Standard

Rozgar Yojna falls short of target

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Madhvi Sally Chandigarh
Under the Prime Minister's "Rozgar Yojna", 20 unemployed persons from Chandigarh got their projects sanctioned, against the backdrop of a set target of 100 projects by the department of industries.
 
Providing financial assistance to the tune of Rs 2 lakh for individuals, and up to Rs10 lakh for a group of persons,the department of industries, Chandigarh Administration, has invited applications from unemployed persons (in the age group of 18-35 years) to apply for financial assistance for setting up their own venture, so as to make themselves self-reliant.
 
Speaking to Business Standard, Industries Director PS Shergill said till December 2005, 79 project reports had been sponsored by the department, of which 20 had got bank sanction. "Our target is to get 100 projects cleared, and we expect the momentum to pick up in the last quarter," said Shergill.
 
For youth belonging to scheduled castes and scheduled tribes, ex-servicemen and physically-handicapped groups, an age relaxation of ten years will be given. Similarly women candidates applying for the assistance will also be given an age relaxation of ten years.
 
Financial assistance provided in the form of loan subsidy on easy terms and conditions has however not yet caught up with the unemployed youth, due to banks not readily clearing the projects.
 
Shergill said, "It is the banks which do the physical verification of the projects, and applicants, and nobody would like to hand money to people with a dubious past."
 
According to the criteria laid for getting financial assistance, the applicant has to be a resident of Chandigarh for at least three years Also, the income of the beneficiary, including spouse income and parents' income, should not exceed Rs 40,000 per annum.

 
 

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First Published: Jan 02 2006 | 12:00 AM IST

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