SVAYEM Scheme Application form online | Swami Vivekananda Assam Youth Empowerment Scheme
The program aims at helping youngsters in the Assam state through employment-generating activities. The scheme aims to assist young people and facilitate commercial activities in the state. SVAYEM scheme is available to all districts of Assam and will help around 2 lakh youngsters. It was a scheme that was in use for a long time that was a part of the government and was redesigned and rebranded as RE-SVAYAM. The government is currently updating the scheme on the 23rd of January 2021.
The Assam government has launched the program to rectify the weaknesses of the previous implementation. The scheme now has a value of approximately INR 1,000 crore. In this article, we’ll examine the Swami Vivekananda Youth Empowerment Program, its procedure for registration and in-depth details about the program, which include goals, eligibility, and additional advantages associated with the scheme. Check out the complete article to learn more regarding the process.
Swami Vivekananda Assam Youth Empowerment Scheme
The Scheme was introduced through the state of Assam. It was officially declared as the initial time February 7th, 2017, as part of the Finance minister’s budget address in Assam. Since then, the scheme has attained a substantial portion of the populace. A lot of beneficiaries have been included in the scheme, however, the majority of them are out of reach.
To include all of them this scheme was revised and relaunched on the 20th of Jan 20th, 2021 in order to provide a favourable business environment. The scheme also is open to groups as well as individuals to undertake new ventures. Prior to this, the emphasis was placed on expanding existing enterprises.
The scheme aims to hire new entrepreneurs as well as business owners from the state. The district says that the number of applicants who are eligible to participate in the scheme will remain equal to the number of people living in the district. The beneficiaries will comprise two lakh youngsters from different groups. In the initial phase of implementation, around 1000 youngsters from each LAC will be chosen.
SVAYEM Scheme Overview
|Name of the Scholarship||Swami Vivekananda Assam Youth Empowerment Scheme|
|Scheme announced by||Assam Government|
|Implemented by||Department of Industries and Commerce|
|Re-launched on||20th January 2021|
|Beneficiaries||2. Lakh Assam Youth|
|The amount for the scheme||1,000 crore. 1,000 crore|
|Launched on||February 2017|
|Financial Assistance||The amount is INR 50,000for each individual|
|The online registration process begins||to be informed|
- Apex Committee at State Level
- A Implementation Cell on the state at the State
- District Level Consultative and implementation committee (DLCIC)
- Rural, Public, Private banks, also known as the nodal and finance banks
Objectives of SVAYEM
The idea is to develop new companies that will increase employment through the creation of clusters of production centres. We now have a better understanding of the scheme and the goals that the federal government has. Now, let’s know the purpose behind this scheme. Swami Vivekananda Assam’s Youth Empowerment scheme.
- The main goal is to help young people get to start businesses by offering’seed money’ to help them start new businesses within the state.
- Inclusion of all young people from urban and rural areas of the state.
- Encourage the growth of new large and small firms in the state, helping the economic growth of the state.
- Support groups and individuals by assisting their business financially.
- Give people the tools to begin an entirely new venture or invest in small and large-scale companies in the fields of trade, manufacturing and service.
- Allow individuals to be involved in business and trading areas that will in turn boost the sector of manufacturing.
- To increase the importance of the rural economy and to give preference to rural industries, rural craftsmen agriculture, and other related sectors.
- Promoting the earnings of the artisans who are small in the states, thereby making sure that the growth is sustainable for these industries.
SVAYEM Scheme Implementation process
- Initially, all applications will be processed via the official website that is RE-SVAYEM.
- Each application submitted will be scrutinized through the DLCIC (District level Consultative and Implementation committee) and, based on that, the applicants will be picked.
- Candidates who are selected must go through an unavoidable training program that lasts three to five days with any agency that is identified like the Indian Institute of Entrepreneurship (IIE).
- Following the completion of training, after completion of training, a “Training Allowance”will be given.
- Following this, the initial installment will be released for those who have attended the course. The funds will be transferred directly into the account of the bank for the person who is the beneficiary.
- After an interval of three months the recipient needs be required to file an activity report to DLCIC. The report will decide the next allocation of funds and the release of the second installment of the scheme.
Funds allocation activities under SVAYEM
ManufacturingTradingProcessingRural Transport ServiceTourismService sectorRepairing centersHandicraft/ Cottage industriesShops
In addition agriculture and related sectors including food processing industries, electronic shops Mobile recharge, and tent houses have also been included as activities that are eligible for beneficiaries of the scheme. Furthermore, MSMEs, as well as service industries, are also added to the program.
Things that are prohibited for allocation of funds under the SVAYEM
- Production of intoxicant products
- Products that are tobacco-related
- Plastic bags less than 40 microns
If you belong to one of those categories or otherwise you’d certainly want to take advantage of the scheme. Before applying, applicants should review the eligibility criteria. Find out if you meet the criteria and then apply to the scheme. Below, we have listed the eligibility criteria. Anyone who wishes to take advantage of this scheme should check their requirements and apply.
|Age Eligibility||The person must be over 18 years old|
|Residency||Must reside permanently in Assam state and currently in Assam.|
|Income Limit||No bar|
|Educational Qualification||The applicant must possess minimum educational qualifications of up to the 7th standard.|
|Skill Eligibility||Experience, skills, and knowledge in the relevant industry. Priority in selecting applicants are given to candidates who possess a certification of skill development training|
|Personal Status||The borrower must not hold any unpaid loan (in the event of failed loan, the borrower is not able to avail advantages of any schemes of the government. Additionally, the currently availed loan could also be cancelled.)|
|Other Specifications||Do not need to be a PMEGP beneficiary within the past five years.|
|Age Eligibility||The applicant must be over 18 years old and not younger than 40 years of age (calculated as of the date of the application).|
|Residency||You must reside permanently in Assam state and currently in Assam.|
|Educational Qualification||The candidate must have the minimum educational qualifications of the 10th standard (High school).|
|Group Eligibility||Joint-Liability groups (JLGs) Self-Help Groups(SHGs) SPVs at the Cluster level or State Federations, Framer produce organizations (FPOs) established prior to September 2021.|
The members of the group should be between 5 and 20 years old.
|Account-Related||The group that is applying for the credit should have a bank account for the group. The account must be in the form of a Scheduled Commercial/ Cooperative bank and individual bank accounts which were all established prior to the 1st September 2021.|
|Personal Status||The person must not be in possession of any loan that is in default (in the event of late payment, the loanee is barred from obtaining advantages of any schemes of the government and the loan could be terminated)|
|Other Specifications||The preference in selecting recipients shall be granted to people who possess the necessary skills to work in a specific business.|
Furthermore, applicants will also need to provide a short description of the company they wish to launch or expand.
Benefits of the SVAYEM scheme
The government has approved the contribution value to the sum of INR50,000 will be paid to every recipient of the scheme. The total amount of 1,000 crores was granted to the scheme by the federal government. All the financial aid for the scheme was paid out in accordance with the scheme. It promises
- The benefit in the amount of 1 Lakh to entrepreneurs who are just starting out
- The government provides a subsidy of INR 20000 to entrepreneurs who are just starting out (20 20 percent)
- Benefits from INR 2.25 lakh to existing entrepreneurs
- The government provides a subsidy of INR 40000 for entrepreneurs who are new (20 percent)
- Assistance in the form of money and SVAYEM loan will be offered by private, public and rural banks.
Specifications on bank assistance
- The person who is the beneficiary must pay 25 percentof the total project’s cost following the time the loan is granted (for example, for an amount of loan in the range of 1 Lakh the equivalent of INR 25,000 must be paid to the institution)
- The amount of money provided by the bank the beneficiary, will be 55 percent of the total costs that the venture will incur. (for instance, an amount equal to INR 55,000will be granted by the bank to cover this SVAYEM credit of one lakh)..
- In addition, for capital expenditure (fixed or working) assistance will be offered from the lender in the form of SVAYEM loans.
- The SVAYEM loan amount will be paid by the bank upon receiving that subsidy. The nodal bank will transfer the subsidy amount to the lending bank.
- The time to repay the amount of the loan will range from 3 to 7 years depending on the bank concerned.
- Hypothecation is permissible for fixed assets such as machines and plants. as well as current assets such as raw materials, furnished and unfurnished items.
- The liquid funds are not stored as security.
The interest rates for the SVAYEM loans will be as per RBI Guidelines in relation to MSE units.
Candidates who meet the criteria required in the constitution by government officials will be eligible to eventually submit an application for this scheme. Like similar schemes, there are crucial documents to consider to be able to benefit from the scheme. We have listed all of these documents below, in order to ensure that your application is easy. The required documents to complete your application include:
- Proof of Age
- ID Identification (Aadhar card ID card, voter ID card driving license, etc.)
- Residential Proof
- Proof of Educational Qualification
- A Certificate to prove your experiences
- Proof of Business Ownership
- Business License
- Certificate of Business Registration
- National Food Security card
- The certificate of any training or Skills Development (if applicable)
The registration process to Swami Vivekananda Assam Youth Empowerment Scheme?
If you’ve got all of the required documents, you’re ready to start applying to the scheme. We will now discuss how to apply for Swami Vivekananda Assam Youth Empowerment Scheme. Candidates who wish to apply and become a beneficiary of the scheme must follow the steps below:
- Go to the official site of SVAYEM. The website will look similar to the one in the image below. Go to the section that says “New Registration”
- When you click the tab, you’ll be directed to another site on which you need to enter the group’s name and a valid mobile phone number. You will need to create the OTPfor the phone number.
- Enter the OTP that was that was sent to your mobile.
- You will now be required to establish an account password. Make a password that includes the letters, characters, and numbers. Click on ‘Submit’.
- The webpage will show your registration as successful. Select the tab that reads “Login”.
- You will be taken to the home page of the portal. There, you will need to login immediately and continue filling out the application. Complete all the information and then you can submit your application!
To learn more about the steps to take you can consult the user’s manual that is linked below. Go through the manual carefully to learn more about the steps to follow in the application.
|Scheme Notification||SVAYEM Notification|
|Formula for application||SVAYEM|
|Official Portal||SVAYEM Portal (Temporarily Unavailable)|
|User’s manual for applying||Application Process of SVAYEM (Temporarily Unavailable)|
What is Swami Vivekananda Assam Youth Empowerment Scheme?
The SVAYEM scheme is a program of the state government in Assam. It is a routine program for young people in Assam to establish an enterprise. The plan aims at attracting those who come from rural areas as in urban regions. Furthermore, it also promotes small businesses and group companies. How do I enrol to be a participant in the Swami Vivekananda Assam Youth Empowerment Scheme?
Anyone who is interested to apply for this scheme may do it by visiting the official site to apply for the scheme. You will be able to follow the steps outlined within the post to finish the registration process. What is the complete version of SVAYEM?
Swami Vivekananda Assam Youth Empowerment SchemeHow can I apply to be eligible for SVAYEM scheme?
Candidates who are who wish to apply for the scheme are able to apply via the official website of RE-SVAYEM. The applicants will need to sign in to the portal and fill with an application. Who initiated the SVAYEM Scheme?
The program was announced in the name of Mr Himanta Biswa, the Finance Minister in the state of Assam state. What is the price for what is the cost of Swami Vivekananda The Assam Youth Empowerment Program?
The SVAYEM scheme was renewed with a budget of INR 1,000 crore. Which groups are qualified for The SVAYEM Scheme?
The groups that can benefit from the SVAYEM scheme include: (JLGs), (SHGs), State Federations, Cluster-level SPVs, (FPOs). How many members of the group are included within the SVAYEM scheme?
The program will comprise two lakh youngsters from various groups. What are the prohibited items to be manufactured according to the SVAYEM Scheme?
The plan prohibits the production of Intoxicant products, liquor products, tobacco and bag bags made of plastic (less than 40 microns). What is the rate of interest for the SVAYEM scheme?
The rates of interest for SVAYEM loans are in accordance with the guidelines of the RBI Guidelines in the case of MSE units. What is “seed money”??
It’s the “seed money that is the initial amount to be made available for the establishment of new businesses thus creating more companies within the state.