Indore (Madhya Pradesh): The State Government is implementing various schemes to connect Scheduled Caste youth with self-employment opportunities. Under these schemes, Scheduled Caste youth will be provided loans ranging from Rs10,000 to Rs50 lakh for the establishment of industrial, business and service units.
Targets for the schemes in the district for the current year have been received. This year, a target has been set to benefit 340 youths under three different schemes in the district.
The State Government, through the Madhya Pradesh Scheduled Caste Finance and Development Corporation, Bhopal, is implementing the Saint Ravidas Self-Employment Scheme and the Dr Bhimrao Ambedkar Economic Welfare Scheme for the Scheduled Caste category.
For the current year, the district has received a target to benefit 100 youths under the Saint Ravidas Self-Employment Scheme.
Under this scheme, loans ranging from Rs1 lakh to Rs50 lakh will be provided for industrial projects, while loans ranging from Rs1 lakh to Rs25 lakh will be granted for service units and retail businesses.
To avail the benefits of the scheme, beneficiaries must be between 18 and 45 years of age and should have passed at least Class 8. The family s annual income must not exceed Rs12 lakh.
Financial assistance in the form of an interest subsidy will be provided at a rate of 5% on the outstanding loan balance for a maximum period of seven years, subject to regular loan repayment.
Similarly, a target has been set to benefit 240 youths under the Dr Bhimrao Ambedkar Economic Welfare Scheme. Under this scheme, eligible beneficiaries will be provided financial assistance ranging from Rs10,000 to Rs1 lakh for establishing service units and retail businesses.
To avail the benefits of the scheme, beneficiaries must be between 18 and 55 years of age. Additionally, beneficiaries must not be income tax payers.
Under this scheme, financial assistance in the form of an interest subsidy will be payable at a rate of 7% on the disbursed and outstanding loan amount for a maximum period of five years, subject to regular loan repayment.
Interested applicants for both schemes may apply online through the website https://samst.mponline.gov.in by visiting any MP Online centre in the district.
