Punjab to engage BYST to extend self employment in hinterland

In order to combat the growing menace of narcotics and unemployment in Punjab, the state has been seriously mulling to engage NGOs to reach out to disadvantaged youth in the hinterland of the state.

Chief Minister of Punjab Parkash Singh Badal met the co-founder of BYST (Bhartiya Yuva Shakti Trust) Lakshmi Venkatesan in Chandigarh to mobilise the youth in hinterland in Punjab for self employment.

The BYST was founded in 1992 with support from late JRD Tata and HRH Prince Charles. The BYST creates synergies with the captains of the industry to nurture the potential entrepreneurs from the disadvantaged sections of the society.

The mentoring to the young people who are not formally qualified is provided by industry experts to fine-tune their skills.

Lakshmi told Business Standard that she was invited by the Punjab Chief Minister to discuss the utilisation of unemployed youth in gainful ventures. She said that in absence of job opportunities, the youth in the rural belts of Punjab is getting addicted to narcotics.

She added that BYST can play a vital role in promoting the rural youth of Punjab because involvement of state can help push the banks to provide loans for the viable business proposals.

She said that BYST should be able to take some concrete initiatives in Punjab by 2011.

She was accompanied by some successful entrepreneurs (mostly college drop outs) who excelled in their business with the handholding provided by BYST.

She explained that BYST facilitates the young entrepreneurs with collateral free financial assistance from banks of about Rs 4 lac with an upper limit of upto Rs 50 lac in special cases.