Swami Vivekananda Assam Youth Empowerment Scheme – Launched by the Finance Minister of Assam on 7th February 2017, this important initiative aims to strengthen youth in Assam by providing them with essential resources. This scheme is geared towards promoting activities that foster youth development. In this updated article, we will discuss the details regarding the Swami Vivekananda Assam Youth Empowerment Scheme, including eligibility requirements and the application process.
Swami Vivekananda Assam Youth Empowerment Scheme 2025
Although originally launched in 2017, the scheme has been revamped by Assam’s finance minister, with a budget of INR 1000 crore allocated to benefit approximately 2 lakh youth. Each selected beneficiary will receive INR 50,000. In the initial years, around 7,000 youths were supported under the scheme, with additional 1,500 beneficiaries added by 2019.
National Youth Parliament Scheme
Key Features of the Swami Vivekananda Assam Youth Empowerment Scheme
| Name | Swami Vivekananda Assam Youth Empowerment Scheme |
| Start Date of Online Registration | 16th September 2020 |
| Launched by | Assam Government |
| Benefit | Providing INR 50,000 to youth |
| Target Audience | Youth of Assam |
| Official Website | assam.gov.in/en/main/SVAYEM |
Objective of the Scheme
The primary aim of this scheme is to create suitable employment opportunities for the youth in Assam. The Swami Vivekananda Assam Youth Empowerment Scheme will facilitate job creation in both rural and urban sectors, helping to start and scale businesses. This initiative offers financial backing to youth to start small ventures, thereby enhancing income for local artisans and promoting economic growth.
Benefits of the Scheme
Under this scheme, each beneficiary will receive INR 50,000 to support their entrepreneurial endeavors, with robust measures put in place to ensure growth. This program aims to enhance the potential of small and regional businesses, improving market reach and product diversity.
Covered Activities
The Swami Vivekananda Assam Youth Empowerment Scheme includes various activities such as:
- Manufacturing
- Processing
- Service Sector
- Trading
- Rural Transport Services (Auto Rickshaw, e-Rickshaw)
- Tourism
- Handicrafts, Cottage Industries, Shops, and Repair Centers
Eligibility Criteria for Applicants
Candidates must meet the following conditions to qualify for the scheme:
- Must be a resident of Assam.
- Must be at least 18 years old.
- No income restriction for receiving financial aid.
- Must possess skills, experience, or knowledge relevant to income-generating activities.
- A minimum educational qualification of Class 8 is required.
- Preference will be given to those who have completed Skill Development Training.
- Applicants should not be defaulters on any loans.
- In case of incorrect details, beneficiaries may face actions such as loan cancellation and blacklisting.
- Participants of PMEGP from the last five years are ineligible for this scheme.
Nature of Financial Assistance
- Private, public, and regional rural banks will extend assistance under this scheme.
- New entrepreneurs can receive a loan of up to INR 1 lakh.
- Existing entrepreneurs may avail up to INR 2 lakh.
- Beneficiaries will contribute 25% of the total project cost.
- Bank loans will cover the majority of project funding.
- Subsidies will also be available for qualifying loans.
- This scheme has an allocation of INR 200 crore from the government.
Documents Required for Application
- Completed SVAYEM application form
- Identity proof of ownership
- Business registration certificate copy
- Business license copy
- National Food Security Card (if applicable)
- Proof of residence
- Skill Development Training Certificate (if applicable)
- Experience Certificate (if applicable)
- Age proof
- Educational qualification proof
- Identity Proofs (such as Voter ID, Driving License, PAN Card, Aadhar Card, Passport, etc.)
- Project report for the proposed business
Prohibited Activities
- Manufacturing of intoxicating materials
- Bidi, Pan Masala, Cigarettes, etc.
- Liquor sales outlets
- Production of plastic bags below 40 microns
Implementation Structure
- The Industries and Commerce Department is the nodal agency for this scheme.
- District Industries and Commerce Centers will manage the implementation.
- Leading banks, both private and public, will help facilitate the scheme.
- All banks will formalize a memorandum for executing the project.
Bank Financing Overview
- Banks will cover around 55% of the project costs.
- Support for capital expenditure through loans will be provided.
- Working capital facilitation will be available through banks.
- Beneficiaries are required to provide 25% of the project cost.
- Upon receiving a subsidy, the banks will release the corresponding loan amounts.
Interest Rates and Repayment Terms
- Interest rates will align with the guidelines set forth by the Reserve Bank of India.
- Repayment periods will range from 3 to 7 years after a designated moratorium.
- Financial institutions will define the final terms of the moratorium.
Application Review Procedure
- Public advertisements will be made in various districts.
- Applications will be solicited through these announcements.
- Candidates must submit their applications at the district level.
- Acceptances of applications will occur online.
- The General Manager of the district committee will screen applications.
- The committee will evaluate each submitted application thoroughly.
- Approved applications will be forwarded to banks for final consideration.
- Loans will be processed and disbursed within five working days post-approval.
- The bank will track margin money and subsidy proposals for borrowers.
How to Apply for the Swami Vivekananda Assam Youth Empowerment Scheme
If you wish to apply for the scheme, follow this step-by-step guide:
- Visit the official website.
- Download the Official Notification for the Swami Vivekananda scheme.
- Next, Download the Application Form PDF.
- Complete all required fields in the application form.
- Attach all necessary documents to the application.
- Submit the application to the District Level Committee (DLC).
Note: For any further updates regarding the scheme, continue following us. We will share all relevant information as soon as it becomes available.