Swami Vivekananda Assam Youth Empowerment
in Assam
Last updated:
Key dates and updates (Assam)
Nationwide and Assam-specific milestones. Verify on the official portal before you apply.
| Milestone | Date |
|---|---|
| Scheme launch |
Swami Vivekananda Assam Youth Empowerment in Assam
Swami Vivekananda Assam Youth Empowerment is a government scheme available to eligible residents of Assam.
Apply for Swami Vivekananda Assam Youth Empowerment in Assam
Scheme Overview
Swami Vivekananda Assam Youth Empowerment (SVAYEM) Scheme is a flagship program by Govt. of Assam to provide financial support to the youths of Assam to take up income-generating activities in the manufacturing, trading, and service sector. This program was launched in the year 2017.
Eligibility Criteria
**Eligibility**
Residents of Assam above 18 years of age.
There will be no income ceiling for getting assistance under this scheme.
The individual beneficiary should have skills, experiences, knowledge, etc., to undertake the income-generating activities.
The beneficiary should possess an educational qualification of at least Class VII standard.
The beneficiary who has already completed Skill Development Training will be given preference.
The beneficiary must not be the defaulter of any loan. If the information submitted by the beneficiary is found to be incorrect later, action would be taken against the beneficiary including cancellation of the loan, recovery of the amount as Bakijai and also blacklisting for future benefit under any Govt. Scheme.
PMEGP beneficiaries of the last 5 years will not be eligible under the scheme.
Benefits
Benefits
Rs. 50 thousand will be provided as seed money to each individual under the renewed Swami Vivekananda Assam Youth Empowerment (SVAYEM) Yojana.
While the groups with five members (Rs 50,000 per head) would be entitled to Rs 2.5 lakh, groups with 10 members would be entitled to Rs 5 lakh and so on with the maximum limit for members being 20.
The total budget of the scheme is Rs. 1000 crore which will be given entirely from government funding.
The beneficiaries would include all members of self-help groups, joint liability groups, and other such groups and federations that have organized themselves for entrepreneurial projects.
Quantum and nature of financial assistance
The State Government through State Level Bankers Committee would request all Public Sector/Private Sector/Regional Rural Banks to provide financial assistance under this scheme.
The quantum of assistance would be up to Rupees One lakh for new entrepreneurs and up to Rupees two lakh for existing entrepreneurs. The beneficiary contribution will be a maximum of 25% of the total project cost.
Banks will be free to sanction loans above the quantum specified above but subsidy, as reflected herein below, will be limited to 20% of the sanctioned limit subject to INR 20,000 for new entrepreneurs and 40% of the sanctioned limit subject to INR 40,000 for the existing entrepreneurs. In brief, for an amount of Rs 1,00,000/- sanctioned as a loan for a total project cost, Rs 25,000/- shall be the beneficiary’s own contribution, Rs 20,000/- the subsidy to be disbursed and Rs 55,000/- shall be the loan amount from the Banks. The extent of Government Subsidy shall be as follows
Required Documents
| # | Document |
|---|---|
| 1 | SVAYEM Scheme 2023 Application form. |
| 2 | Proprietary Identity Document. |
| 3 | Copy of business registration certificate. |
| 4 | Business license copy. |
| 5 | National Food Security Card is in force. |
| 6 | Residence proof. |
| 7 | Skill Development Training Certificate if applicable. |
| 8 | Experience certificate if applicable. |
| 9 | Proof of age. |
| 10 | Proof of merit. |
| 11 | Identity proof (Voter ID card, driving license, PAN card, Aadhaar card, passport etc.). |
| 12 | Plan Report for Proposed Project. |
Common questions in Assam
Who can apply for Swami Vivekananda Assam Youth Empowerment in Assam?
Eligible residents of Assam who meet the scheme’s overall criteria can apply for Swami Vivekananda Assam Youth Empowerment. Refer to the eligibility section above for the complete checklist.
What documents are required for Swami Vivekananda Assam Youth Empowerment in Assam?
Applicants in Assam typically need identity proof (Aadhaar), state residency proof, bank account details, and any scheme-specific documents listed in the documents section.
What are the important dates for Swami Vivekananda Assam Youth Empowerment?
Key dates are summarized in the table on this page, from 9 July 2017 through 9 July 2017, based on values DeshSeva currently stores for this item.
Frequently Asked Questions
SVAYEM Scheme is a Flagship welfare Scheme which Aims to Provide Financial Assistance to the youth of Assam state and Empower them in Income Generating Activities Like Service, Manufacturing, and Processing Industries.