The BJP-IPFT state government has decided to strengthen the ‘Swabalamban’ scheme introduced in the state for the first time in 2010 for self-employment of would-be entrepreneurs. Even though the scheme had been launched eight years ago it never really got going because of non-availability of capital fund for would-be entrepreneurs keen to launch own business for self-employment.
Yesterday in a cabinet decision the state government decided to give loan to entrepreneurs under the ‘Swabalamban’ scheme up to the maximum amount of Rs 1 crore. A number of components of the scheme will be strengthened to make availability of loan easier so that people can try for self-employment. ‘In the matter of giving loans which the state government may give directly or by standing as guarantor for banks the unemployed people who have undergone skill development training will be given preference’ said official sources. They added that without skill development training in their respective fields of activities no government or bank finance will be available.
Education Minister Rantan lal Nath also added earlier those interested in taking loans under the Swabalamban schemes had submit applications in a form, But from now they would apply online for loan.
“The cabinet has also decided to give priority for the unemployed youths having skill development training. The age limit of the applicants would be from 18 years to 50 years” Nath said.
Pradhan Mantri Rojgar Yojonq, Start up India, Stand Up India etc schemes were also included in the Swabalamban and those who would take the loan would also be brought under insurance and the first premium of the insurance would be borne by the State Government.
“A Guideline has also been framed for quick release of the Loan amount infact the district committees would have to complete the selection and the bank would have to release tha money with in 30 days” Nath said.
The State government would also impart 7 day training to the loan receivers.