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Rural Development Minister launched the Mukhya Mantri Yuva Aajeevika (CM Youth Livelihood) Yojana at Una. The scheme will be implemented by the Rural Development Department in the state to help provide self-employment opportunities to the village youth.
Other self employment scheme in Himachal
Himachal Pradesh Mukhyamantri Yuva Swavalamban Yojana :
The Government of Himachal Pradesh launched its new scheme called Chief Minister Yuva Swavalamban Yojna (MYSY) and Hariyani Swasthya Yojana (GSY) in the state. The Chief Minister Yuva Swavalamban Yojana will encourage the self-employment scheme of the state youth to self-employment.
Key features of the scheme
Encouragement to the youth – The main motive of the state government behind the implementation of this project is to encourage youngsters to take matters in their own hands, and work towards self-employment.
Solving issues of job scarcity – With the implementation of this project, the job scarcity in the state will go down. People will no longer seek jobs if they become their own boss. They will be able to hire more people, thus, generating opportunities.
For candidates of specific age (Eligibility Criteria) – Any resident of HP will be able to apply for this self-employment scheme, if he/she falls in the age group of 18 – 35 years. Subsidy for male investors – If any male entrepreneur desires to start any business, and makes an investment of Rs. 40 lakhs, then he will receive special subsidy from the government on machinery cost. The subsidy will be offered at 25%.
Subsidy for female investors – In case any female candidates acquires credit to get start her business, then government will offer 30% subsidy on cost of machinery she needs to purchase. However, her investment amount must not be less than 40 lakhs.
Interest subsidy on credit – Loan will also be made available to assist the interested candidates in setting up their business. If any applicant takes loan that is within 40 lakh margin, then he/she will receive 5% subsidy on the loan interest. It will be given for 5 years.
Government land for rent – In case, any self-employed youth requires land; he/she can approach the state government. In case they approval of HP state authority, and attain government land on rental basis, then state government will charge only 1% of the actual rent.
Reduction of stamp duty – To encourage more and more youth to take part in this self-employment scheme, the government will also bring down the amount of stamp duty they need to pay. Under this project, stamp duty will be charged at 3% instead of 6%, in case the investor is purchasing the plot.
Budget for this scheme
To offer proper employment opportunities and empowerment, Himachal Pradesh state government has already announced an allocation of Rs. 80 crore as the budget. In case more funds are required, it will make more allocations as and when need arises.
By: Pooja Sharda ProfileResourcesReport error
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