Major push to Rajiv Yuva Vikasam
5 lakh youth to get financial aid of Rs 3 lakh for entrepreneurship
Hyderabad: The state government is set to give high priority to the Rajiv Yuva Vikasam scheme in the upcoming budget. This initiative is aimed at providing self-employment opportunities to nearly five lakh youth. Each beneficiary will receive financial assistance of Rs 3 lakh, Deputy Chief Minister Bhatti Vikramarka said on Tuesday.
The self-employment scheme was a key promise made by Congress during the 2023 Assembly elections. It is designed to benefit individuals from Backward Classes (BCs), Scheduled Castes (SCs), and Scheduled Tribes (STs) through the respective community corporations.
The funds allocated under the SC and ST Sub-Plan and BC Welfare schemes will be utilized to extend benefits primarily to unemployed youth.
Deputy Chief Minister Bhatti Vikramarka informed the media that a schedule has been finalised for receiving applications and disbursing benefits to eligible individuals. Applications will be invited from March 15, with the deadline for submission set for April 5.
The BC, SC, and ST corporations will scrutinize applications starting April 6, and the final list of beneficiaries will be completed by May 31. Sanction letters will be issued on June 2, coinciding with the State Formation Day.
The Rajiv Yuva Vikasam scheme aims to empower beneficiaries to pursue their preferred professions for sustainable livelihoods. Financial assistance will be provided under a bank-linked subsidy scheme, ensuring greater support for young entrepreneurs. The initiative is expected to generate significant employment opportunities, particularly in the services and small manufacturing sectors.
The Deputy CM said that guidelines for the scheme's implementation will be announced soon. He also assured that all districts will receive equal consideration in the selection process to ensure a fair distribution of benefits.
