Swami Vivekananda Assam Youth Empowerment (SVAYEM) Scheme is a flagship program by Govt. of Assam to provide financial support to the youths of Assam to take up income-generating activities in the manufacturing, trading, and service sector. This program was launched in the year 2017.
Earlier, this scheme was initiated and managed by Dept. of Industries & Commerce, Assam; but this year (2020), the said scheme will be implemented by State Finance dept., Govt. of Assam with the help of other nodal agencies. Initial terms and conditions of this scheme were different under this scheme, but this year the entire scheme has been rejuvenated to meet the current situation and needs of the society.
1) To generate employment opportunities in rural as well as urban areas through setting up of new ventures as well as growing existing ventures.
2) To provide financial assistance to micro and small business entities engaged in the manufacturing, trading, and services sector.
3) To provide financial assistance for enhancement of income level of traditional artisans ensuring sustainable growth.
Nature of activities:
- Service Sector
- Rural Transport Service (Auto Rickshaw, e-Rickshaw)
- Shops, repairing Centres, Handicraft, Cottage Industries etc.
Negative list of activities:
- Manufacturing of intoxicant items
- Beedi, Panmasala, Cigarette, etc.
- Sales outlet of Liquor
- Plastic bags below 40 microns
All the applicants must fulfill the below mentioned criteria to become eligible for the SVAYEM Scheme Assam:-
a) Applicant must be a permanent resident of Assam state.
b) The age of the applicant must be less than 40 years.
c) He / She must have passed matriculation.
d) The applicant should be a part of the existing Self Help Groups, Joint Liability Groups etc. before 1 September 2020.
Rs. 50 thousand will be provided as seed money to each individual under the renewed Swami Vivekananda Assam Youth Empowerment (SVAYEM) Yojana.
While the groups with five members (Rs 50,000 per head) would be entitled to Rs 2.5 lakh, groups with 10 members would be entitled to Rs 5 lakh and so on with the maximum limit for members being 20.
The total budget of the scheme is Rs. 1000 crore which will be given entirely from government funding.
The beneficiaries would include all members of self-help groups, joint liability groups, and other such groups and federations that have organized themselves for entrepreneurial projects.