Odisha Swatantra Yuba Udyami Yojana : The Odisha State Cabinet has approved the Swayam (Youth Self-Employed) Scheme. The program was launched to engage youth in the country’s urban and rural areas in the country’s new economic and business stimulus. Read the article below to know about Odisha SWAYAM Scheme in detail.
Odisha Swatantra Yuba Udyami Yojana 2024
Odisha Swatantra Yuba Udyami Yojana is a new scheme launched by the Odisha government especially for the youth of the state. State officials hope to cover 100,000 eligible youth in both urban and rural areas in the first phase of this scheme. Also known as Swatantra Yuba Udayami Svayam is a historic step taken by the youth of the country. In particular, they have taken measures to facilitate their own work.
Odisha SWAYAM Scheme Details in Highlights
| Name | Swatantra Yuba Udyami Yojana |
| Launched by | Odisha government |
| Objective | To provide Interest-free loans |
| Benefit | Interest-free loans for businesses of up to 1 lakh |
| Budget allocated | Rs 448 crore |
| Beneficiaries | State’s youth |
| Official Website | Not yet launched |
Objective of Odisha Swatantra Yuba Udyami Yojana
Interest-free loans are offered to small businesses to set up and access funding that matches their qualifications, skills, training and local context. State officials hope to cover 100,000 eligible youth in both urban and rural areas in the first phase of the scheme.
Benefits of Odisha Swatantra Yuba Udyami Yojana
Young people between the ages of 18 and 35 who are unemployed or underemployed can apply for this program. Interest-free bank loans up to Rs. 1 lakh will be provided for starting business under this scheme. The state government will use Rs 448 crore from its budget for this purpose.
Apart from the 85% loan guarantee already given to micro and small enterprises, the state government will also provide 15% loan guarantee through the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE). The entire interest on the loan is borne by the State Government. The state government will also pay the annual CGTMSE guarantee fee
Eligibility Criteria for Odisha SWAYAM Scheme
- Applicant’s age must be in between 18 and 35 years.
- Both males as well as females are eligible for this yojana.
- For Scheduled Tribes and disabled groups, the age range has been extended upto 40 years.
- The applicant’s household must either make less than 2 lakhs in annual income or be eligible for coverage under the Kalia or BSKY schemes.
- The applicant will not be eligible for this scheme’s benefits if they have previously missed payments on a loan from a bank or other financial institution, or if they already owe money under any Central or State Government programme.
- Workers of the central, state, or local governments, as well as employees of constitutional bodies and their families, are not eligible for this loan.
- The other family member will not be able to receive this benefit if one member does
Process Fee
There is no collateral required, and there is no processing fee for borrowers. The primary loan can be repaid by the applicant in four years.
Documents Required
- Aadhar card
- PAN card
- Passport size photograph
- Mobile number
- Bank account
- Domicile certificate
Application Process of Odisha Swatantra Yuba Udyami Yojana
- First of all, open the official website of the Swatantra Yuba Udyami Yojana.
- The homepage of the website will open on the screen.
- Now from the homepage, click on the register here to apply option.
- A new page with an application form will be displayed.
- Enter details like name, father’s name, age, date of birth, address, etc in the application form.
- Enter the relevant documents to be uploaded.
- Check the provided information carefully.
- Now click on the register option.
- After successful registration, you can now apply for the scheme
KALIA Scholarship in Odisha 2024
FaQ
Q.What is the Odisha Swatantra Yuba Udyami Yojana 2024 ?
Ans.Odisha Swatantram Yuba Entrepreneur Scheme is a new scheme launched by the Odisha government especially for the youth of the state. State officials hope to cover 100,000 eligible youth in both urban and rural areas in the first phase of this scheme. Also known as Swatantra Yuba Udayami Svayam is a historic step taken by the youth of the country. In particular, they have taken measures to facilitate their own work.
Q.What is the Eligibility Criteria for Odisha SWAYAM Scheme ?
- Applicant’s age must be in between 18 and 35 years.
- Both males as well as females are eligible for this yojana.
- For Scheduled Tribes and disabled groups, the age range has been extended upto 40 years.
- The applicant’s household must either make less than 2 lakhs in annual income or be eligible for coverage under the Kalia or BSKY schemes.
Odisha Swatantra Yuba Udyami Yojana 2024 | Odisha Swatantra Yuba Udyami Yojana (SWAYAM) 2024: Apply Online, Benefits
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