Odisha Swatantra Yuba Udyami Yojana: The state cabinet of Odisha approved the SWAYAM Yojana (Swatantra Yuba Udyami) Yojana. This scheme was introduced to engage the youth of the state’s urban and rural areas in the state’s new economic and commercial revival. Read the article below to know in detail about the Odisha SWAYAM Scheme.
Note – Odisha Ration Card Rs 1000 Scheme to give Rs1000 to every Ration card holder in state.
Odisha Swatantra Yuba Udyami Yojana 2024
Odisha Swatantra Yuba Udyami Yojana is the new scheme launched by the Odisha government, particularly for the state’s youth. The state administration hopes to include one lakh eligible youth from both urban and rural areas in the first phase of this plan. Swatantra Yuba Udyami also known as SWAYAM is a historic step taken for the state’s youth. The initiative has been taken to specifically make self-employment easier.
Odisha Urban Wage Employment Scheme
ରାଜ୍ୟର ଶିଳ୍ପ ଓ ବାଣିଜ୍ୟ ବ୍ୟବସାୟ କ୍ଷେତ୍ରରେ ଆସିଥିବା ରୂପାନ୍ତରଣରେ ସାମିଲ ହେବେ ସହରାଞ୍ଚଳ ଓ ଗ୍ରାମାଞ୍ଚଳର ଯୁବଗୋଷ୍ଠୀ। ଏଥିପାଇଁ ରାଜ୍ୟ କ୍ୟାବିନେଟରେ ‘ସ୍ୱୟମ’ ନାମରେ ଏକ ନୂଆ ଯୋଜନାକୁ ଅନୁମୋଦିତ କରାଯାଇଛି। ଏହାଦ୍ୱାରା ରାଜ୍ୟର ବ୍ୟବସାୟିକ ବାତାବରଣ ଆହୁରି ଉଜ୍ଜ୍ୱଳ ହେବ। #OdishaCabinet
ଏଥିରେ ୧୮ ରୁ ୩୫ ବର୍ଷ ବୟସର… pic.twitter.com/TyMM1GvvFO — CMO Odisha (@CMO_Odisha) February 12, 2024
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
The interest-free loan will be given to establish microbusinesses and endeavours that generate revenue that is appropriate for their aptitude, skills, training, and local circumstances. The state administration hopes to include one lakh eligible youth from both urban and rural areas in the first phase of this programme.
Benefits of Odisha Swatantra Yuba Udyami Yojana
Following are the Benefits of Odisha Swatantra Yuba Udyami Yojan
- Young men and women between the ages of 18 and 35 who are unemployed or underemployed can apply for this scheme.
- Interest-free bank loans of up to Rs. 1 lakh shall be provided under this yojana to launch a business.
- The state government would use Rs 448 crore of its budget for this.
- In addition to the 85% loan guarantee already provided to micro and small firms, the state government will also offer a further 15% loan guarantee through the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE).
- The full interest burden on the loan will be borne by the state government.
- The state government will also cover the annual CGTMSE guarantee cost.
Eligibility Criteria for Odisha SWAYAM Scheme
If you are willing to apply for this yojana then carefully read the eligibility criteria for the yojana before applying for it.
- 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.
Biju Yuva Sashaktikaran Yojana
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
The government has not notified the official website for this yojana yet. All the eligible applicants can visit the official website and fill out the form there once the government announces its official website. However, the general application process to apply for the scheme has been mentioned below.
- 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