Rajiv Yuva Vikas Scheme – Employment opportunities for youth, bank linkage mandatory
Rajiv Yuva Vikas Scheme:
The Telangana government has made bank linkage mandatory for units sanctioned under the Rajiv Yuva Vikas Scheme. This decision has been taken to increase transparency in the implementation of the scheme and to ensure proper utilization of funds.
Main Guidelines:
Bank linkage is mandatory for every unit sanctioned under the Rajiv Yuva Vikas Scheme.
The beneficiary will have to bear the remaining amount after the subsidy. Otherwise, the unit will not be sanctioned.
16.23 lakh applications have been received in Telangana under this scheme.
Unit classification and subsidy details:
Category-1: 100% subsidy for a unit worth ₹50,000 (no bank linkage).
Category-2: 10% bank loan is mandatory for a unit worth ₹1 lakh.
Category-3: 20% bank loan is mandatory for a unit worth ₹1-2 lakh.
Category-4: 30% bank loan is mandatory for a unit worth ₹2-4 lakh.
Priority of bank loans:
In the past, the scheme could not be implemented due to timely availability of bank loans even though some units were sanctioned. To solve this problem, Deputy Chief Minister Bhatti Vikramarka has instructed the banks. If the banks sanction loans of ₹1,600 crore, self-employment opportunities will be provided to about 5 lakh youth.
Funds for BC Welfare Department:
The state government has released ₹4,639.81 crore for Kalyana Lakshmi, student scholarships and other benefits under the BC Welfare Department. These funds will be used for various social welfare schemes.
