Assam: CM Himanta Biswa Sarma announces Rs 5,000 cr self-employment scheme for youth

Assam Chief Minister Himanta Biswa Sarma on September 23 unveiled self-employment scheme, the Mukhyamantri Atmanirbhar Asom Abhijan, aimed at empowering the state's youth and fostering entrepreneurship. Speaking at the launch of the Mukhyamantri Swaniyojan Abhiyan Registration Portal, Chief Minister Sarma outlined the key aspects of the scheme.

The scheme, divided into two parts, primarily targets educated youth with degrees in various fields, including engineering, agriculture, veterinary science, fisheries, and dental studies, who aspire to embark on entrepreneurial ventures. Chief Minister Sarma explained that eligible candidates would receive financial assistance in the following manner:

Each candidate will receive Rs 5 lakhs, disbursed in two installments.
The first installment of Rs 2.5 lakhs will be provided upfront, followed by a second Rs2.5 lakh installment after a third-party assessment.
Crucially, the first Rs 2.5 lakh is non-repayable, constituting a government subsidy.
The remaining Rs 2.5 lakh is also interest-free and refundable but not due for repayment until five years have elapsed.
After the initial five-year period, recipients will repay the government through monthly EMIs of Rs 5,000.
While this scheme targets a broad spectrum of youth, there are distinctions based on categories:

Students from Scheduled Tribes (ST), Scheduled Castes (SC), and Other Backward Classes (OBC) with a minimum qualification of Class 10 are eligible for the Rs 5 lakh assistance.
General category students must have completed their metric education or equivalent.
Junior engineering, ITI, and self-employment course graduates are also eligible.
Chief Minister Sarma stated the state government's commitment to creating more government job opportunities, with additional job vacancies expected to be announced until 2026. The age criteria for application are as follows:

General category: 28 to 40 years
ST, SC, OBC: Up to 43 years
The minimum age requirement for all applicants is 28 years.
Notably, the selection process will be conducted at the state level, without constituency or district quotas. Applicants selected for the scheme are encouraged to submit their applications through the designated portal.