Assam to give financial aid to 2 lakh youth to boost entrepreneurship

Ahead of next year’s assembly polls, the Assam government in a bid to encourage entrepreneurship has decided to provide Rs 50,000 each to 2 lakh youth of the state, Health and Finance Minister Himanta Biswa Sarma announced on September 4.

The minister, while addressing the media, said that Rs 50,000 each to 2 lakh youth would be given under the revamped “Swami Vivekananda Assam Youth Empowerment (SVAYEM)” Yojana, which was originally launched in 2017-18.

“Rs 1,000 crore has been earmarked for this scheme. It would continue for an indefinite period,” Sarma added.

The financial assistance would be provided to the members of self-help groups or joint liability groups registered before September 1.

Youth below the age of 40 years and with a minimum qualification of matriculation would be considered eligible for this scheme.

“After launching the scheme under the Industry and Commerce department in 2017-18, the initial target was one lakh youth. Due to some technical reasons, the target was not fulfilled and the desired goal was not achieved. Hence, the state government launched the revamped SVAYEM,” the minister said.

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