The state government of Odisha is all set to launch a new self
employment scheme ahead of the panchayat polls scheduled early next
year. Named as “Biju Atma Nijukti Yojana” is aimed at providing self
employment to unemployed semi-literate youths in the state.
Biju Atma Nijukti Yojana
Under the Biju Atma Nijukti Yojana, the state government will provide
soft bank loans of up to Rs. 5 Lakh to such un-employed youth to setup
their own small businesses. The loan will be provided without any
collateral security, mortgage or pledge of assets. A subsidy of up to 30
per cent would be provided to the beneficiaries.
According to the stats, 1.75 crore youths in the 18 to 35 age group
constitutes the 42% of the state’s population. Under the scheme, apart
from the bank loan, the government also plans impart skill-development
training to youths who haven’t completed their matriculation.
The youth will be provided financial support to setup micro, small
and medium enterprise in manufacturing or service sector and generate
self employment. The state government, in the next five years plans to
provide self employment to 30K youth in 10K enterprises. Rs 53 crore is
estimated to be spend on promoting such a large number of enterprises in
next 5 years.
Under the Biju Atma Nijukti Yojana, the annual family income of the
unemployed youth should not exceed Rs. 1.5 Lakh for Urban and Rs. 1 Lakh
for Rural areas to be eligible for the bank loan. The age of the
beneficiary should be between 18-40 Years. However, there is a
relaxation of 5 years in the upper age limit for SC, ST, physically
handicapped, minority community, ex-servicemen and women.
The maximum project cost for manufacturing sector should not exceed
Rs. 5 lakh while for service sector the maximum project cost could be
Rs. 2 Lakh. The general category beneficiary will be required to
contribute at least 20% of the cost of the project while the minimum
contribution amount is 10% for reserved category.
Margin money assistance for general category beneficiaries is up to
30 per cent while the same is 40 per cent for those belonging to
reserved categories.
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