Jammu and Kashmir Chief Minister Omar Abdullah today said with the number of unemployed touching the six lakh mark, entrepreneurship development is the only way to tackle unemployment crisis in the state.
"Two lakh job opportunities for youths have been generated under various initiatives of the Sher-i-Kashmir Employment and Welfare Programme for Youth (SKEWPY). We have to redouble our efforts in realising the goal of generating employment for five lakh youths in five years," Omar said.
The Chief Minister was addressing a meeting here to take stock of SKEWPY and its various initiatives implemented in the state to help comprehensive employment generation and welfare of youths, besides enhancing their skill and capacity building to get absorbed in the job market within and outside the state.
Omar expressed satisfaction over the fillip received by Seed Capital scheme under strict monitoring of Jammu and Kashmir Bank top brass in getting Entrepreneurship Development Institute (EDI) sponsored cases cleared on fast track and disbursing the loan component for establishment of industrial units by the youth in a time bound manner, a government spokesman said.
The Chief Minister asked EDI to enhance its target from 1,500 units to 3,000 units this fiscal for which government would provide required seed capital to entrepreneurs.
Under the Seed Capital Fund scheme, as against 302 units established in 2009-10, the figure last year touched 1,307 as compared to the fiscal target of 1,000 units, he said.
EDI has fixed the target of achieving 1,554 units this year and has the capacity to go upto 3,000 units, he added.
