The Swami Vivekananda Assam Youth Empowerment (SVAYEM) Scheme is a key initiative by the Government of Assam aimed at providing financial assistance to the youth in the state. This support helps them engage in income-generating activities across various sectors, including manufacturing, trading, and services. The program was officially launched in 2017.
The government is rolling out the updated SVAYEM Scheme, which will provide Rs. 50,000 to each of 2 lakh young people to foster entrepreneurship. Interested candidates can fill out the online application or registration form for the Assam SVAYEM Scheme.
This scheme was previously run by the Department of Industries & Commerce in Assam, but this year (2020), the State Finance Department will take charge, with assistance from other nodal agencies. The initial terms and conditions have been revised, as the scheme has been rejuvenated to better fit today’s societal needs.
The SVAYEM Scheme 2020 has some key objectives:
1) It aims to create job opportunities in both rural and urban areas by launching new businesses and expanding existing ones.
2) The scheme offers financial support to micro and small enterprises involved in manufacturing, trading, and services.
3) It also focuses on providing financial aid to traditional artisans to help boost their income and ensure sustainable growth.
List of activity under SVAYEM Scheme 2020
Nature of activities:
– Manufacturing
– Processing
– Service Sector
– Trading
– Rural Transport Service (Auto Rickshaw, e-Rickshaw)
– Tourism
– Shops, repairing Centres, Handicraft, Cottage Industries etc.
Negative list of activities:
– Manufacturing of intoxicant items
– Beedi, Panmasala, Cigarette, etc.
– Sales outlet of Liquor
– Plastic bags below 40 microns
Eligibility Criteria for SVAYEM Scheme 2020
All the applicants must fulfill the below mentioned criteria to become eligible for the SVAYEM Scheme Assam:-
a) Applicant must be a permanent resident of Assam state.
b) The age of the applicant must be less than 40 years.
c) He / She must have passed matriculation.
d) The applicant should be a part of the existing Self Help Groups, Joint Liability Groups etc. before 1 September 2020.
Benefits under SVAYEM Scheme 2020
Under the renewed Swami Vivekananda Assam Youth Empowerment (SVAYEM) Yojana, each person will get Rs. 50,000 as seed money. If you’re in a group of five, that adds up to Rs. 2.5 lakh (which is Rs. 50,000 for each member), and for groups of ten, it’s Rs. 5 lakh. The maximum group size allowed is 20 members. The total budget for this scheme is Rs. 1,000 crore, all coming from government funding. This initiative is designed to support all members of self-help groups, joint liability groups, and other organized groups and federations that are focused on entrepreneurial projects.