Rajasthan govt's self-employment scheme drew 5K applications in 10 days

State government's interest-free loan scheme for young entrepreneurs sees strong early uptake across districts

Rajasthan government’s self employment scheme is attracting a positive response from the youth, the state’s Industries and Commerce Commissioner said on Thursday. 

Suresh Kumar Ola said that the Chief Minister’s Youth Self-Employment Scheme (Mukhyamantri Yuva Swarojgar Yojana) drew over 5,000 applications in 10 days. 

The government had announced the scheme to provide financial assistance to one lakh youth in the next three years in the state to establish their own businesses. The official pointed out that under this scheme, interest-free loans of up to ₹10 lakhs are provided for setting up micro-enterprises in the manufacturing, service, and trade sectors. 

“The state government reimburses 100 per cent of the interest,” he said. 

Provision has also been made for reimbursement of margin money up to ₹50,000 and Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) fees. 

Rajasthan’s Chief Minister Bhajan Lal Sharma launched this scheme on January 12, and the department issued the guidelines on January 15. 

Ola said that Jaipur district has received the highest number of applications, 385.  Additionally, Churu, Bikaner, Tonk, and Hanumangarh districts have received more than 200 applications each. 

Giving details, Ola said that to avail the benefits of this scheme, the youth of the state can apply online through their own Single Sign-On ID (SSO ID) and E-Mitra. 

The Rajasthan SSO ID login is a single sign-on system developed by the Government of Rajasthan. It allows citizens and government employees to access various online government services using a single set of credentials. 

Applicants who have passed classes 8th to 12th will be provided interest-free loans of up to ₹3.5 lakh for the service and trade sector and up to ₹7.5 lakh for the manufacturing sector. In addition, a margin money of up to ₹35,000 will also be provided. 

Applicants with graduation, ITI, and higher educational qualifications will be provided interest-free loans of up to ₹5 lakhs for the service and trade sector and up to ₹10 lakhs for the manufacturing sector. Along with this, a margin money of up to ₹50,000 is also being provided.