Hyderabad: The Telangana government has introduced the Rajiv Yuva Vikasam Scheme, aimed at providing self-employment loans to unemployed individuals from SC, ST, BC, and minority communities. Under this initiative, eligible beneficiaries will receive loans of up to Rs 3 lakh.
Rs 6,000 Crore Allocation for 5 Lakh Beneficiaries
The Revanth Reddy-led government has allocated Rs 6,000 crore for the scheme, targeting nearly 5 lakh unemployed youth. The application process will commence on March 17 and remain open until April 5. Following a review period from April 6 to May 31, the final list of beneficiaries will be announced, with sanction letters distributed on June 2.
Loan Categories and Subsidies
Loans will be provided under three categories:
– Category 1: Up to Rs 1 lakh, with an 80% subsidy, while beneficiaries must contribute 20%.
– Category 2: Between Rs 1 lakh and Rs 2 lakh, with a 70% subsidy.
– Category 3: Up to Rs 3 lakh, with a 60% subsidy.
Eligibility Criteria
Applicants must meet the following conditions:
– Be a permanent resident of Telangana.
– Belong to SC, ST, BC, or minority communities.
– Be unemployed at the time of application.
– Provide necessary documents, including Aadhaar card, caste certificate, income certificate, bank account details, and ration card.
– Register with the employment exchange.
Application Process
Candidates must apply through the official website by creating an account with a mobile number and email ID, uploading the required documents, and submitting the application form before the deadline.
The scheme is expected to provide significant financial support to unemployed youth in Telangana, facilitating self-employment opportunities and economic stability.