Srinagar: J&K government has taken many steps to create infrastructure, schemes, and policies to speed up economic development and to meet the aspirations of youth so that they can contribute to society and achieve self-growth, an official spokesman said here Wednesday.
An official spokesman in a statement issued here said that under the Mission Youth, Lieutenant Governor Manoj Sinha launched the Mumkin scheme, a customised livelihood generation scheme for the youth of Jammu and Kashmir.
Under the scheme, unemployed youth are facilitated to procure small commercial vehicles on a subsidised basis to establish a sustainable livelihood in the transport sector.
The ‘Mumkin’ is a livelihood programme designed primarily for unemployed young people in the age group of 18 to 35.
Through the ‘Mumkin’ scheme, small commercial vehicles are being provided to the youth with the banking partner extending the loan facility to the extent of 100 percent for the on-road price of the vehicle to be purchased.
Apart from this, Mission Youth, J&K provides an amount of Rs 80,000 or 10 percent for the on-road price of the vehicle (whichever is lesser) as an upfront subsidy and the vehicle manufacturers (scheme partner of government) provide a special upfront discount, not less than the amount of subsidy.
To make the scheme implementation completely transparent and fast, a module has been developed on the JK-e-Services portal for operating the scheme digitally.
Similarly, for young ambitious women, the Tesjaswani scheme has been launched by the government which provides financial assistance for setting up gainful self-employment ventures, suited to their skills, training, aptitude, and local conditions.
The J&K administration is also facilitating soft finance for setting up new enterprises or for the expansion and modernisation of existing ventures for income generation.
Tejaswini scheme provides financial assistance to young women 18 to 35 years of age.
Under the scheme, female entrepreneurs are facilitated to avail financial assistance under Mudra from J&K Bank to the extent of Rs 5 lakh.
Mission Youth J&K is also providing an amount of Rs 50,000 or 10 percent of the project cost as an upfront subsidy.
Besides, an interest subvention up to Rs 60,000 is also being sponsored by the government as a special incentive, making repayment of loans technically interest-free for the young female entrepreneurs who apply for assistance under the scheme.
The scheme intends to assist all eligible young women who are domiciles of J&K and have a qualification of matriculation and above.
It also caters to enterprises where women entrepreneurs hold no less than 50 percent of the financial holding, besides assisting to set up women-centric businesses and micro start-ups.
Also, the ‘Spurring Entrepreneurship Initiative’ programme is built on the idea of the Youth Enterprise with Innovation (YouWiN) and Champion for Innovation initiative, which aims to inspire young people, especially young women, to start and grow innovative businesses.
Dentists are receiving tailored financial help for opening dental clinics under the sector-specific programme for dental professionals.
Under this programme, around Rs 8 lakh is given as financial support for starting their business. Under the Mission Youth scheme, the administration has announced to provide financial assistance of Rs 8 lakh to unemployed dental surgeons to set up their clinics.
An amount of Rs 8 lakh would be provided as financial assistance of which Rs 2 lakh would be provided as Grant-in-Aid and the rest of the amount of Rs 6 lakh would be financed by the bank as a start-up loan.
While no margin money would be required, financial assistance could be availed individually and on a group basis.
The scheme is being launched to provide a source of employment to hundreds of dental surgeons and dental technicians.