[Apply] SVAYEM Scheme: Swami Vivekananda Assam Youth Empowerment Scheme Registration

The scheme is aimed at empowering the youth of the Assam state through employment generating activities. The scheme proposes to benefit the youth and ease the business in the state. SVAYEM scheme applies to all the districts of Assam and will benefit about 2 lakh youth. It is an old scheme of the government, redesigned again as RE-SVAYAM. Currently, the government updated the scheme on January 23, 2021.

The Assam government has launched this flagship scheme again to improve the shortcomings of the previous implementation. The scheme is now worth INR 1000 crore. In this article, we will discuss the Swami Vivekananda Assam Youth Empowerment Scheme, the registration process and in-depth details of the scheme, including objectives, eligibility and further benefits associated with the scheme. Read the article completely to get additional information about the process.

Swami Vivekananda Assam Youth Empowerment Scheme

The Scheme was launched by the government of Assam. Officially, it was declared for the first time on February 7th, 2017 in the budget speech of the finance minister of Assam. Now, the scheme has reached a significant proportion of the population. Many beneficiaries have been included in the scheme but still, a major portion remains beyond the reach.

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Thus, to include all such people, the scheme has been re-designed and launched again on January 20, 2021, to create a more business-supporting environment. Also, the scheme now includes both individuals and groups to take on new activities. The emphasis had been given upon expanding the existing enterprises.

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The scheme has a target to employ the young entrepreneurs and business doers of the state. According to the district, the number of beneficiaries eligible for the scheme will be kept proportionate to the population of the district. It will include 2 lakh youth members of different groups. In the first phase of the scheme implementation, about 1000 young individuals from each LAC are to be selected.

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SVAYEM Scheme Overview

Implementing Agencies

• Apex Committee at State Level
• Implementation Cell at the State level
• District Level Consultative and implementation committee (DLCIC)
• Public, Private, Rural banks as the nodal and financing banks

Objectives of SVAYEM

The vision is to create new businesses which will further generate more employment by creating clusters of production centres. As we now know a bit better about the scheme and the vision of the government. Now, let us understand the objective of the Swami Vivekananda Assam Youth Empowerment Scheme.

• The basic objective is to employ young people into businesses by providing ‘seed money’ to start new businesses in the state.
• To include all the youth from the urban and the rural areas of the state.
• Promote the development of new small and large businesses in the state, thus favouring the economy of the state.
• Help individuals and groups by supporting their business financially.
• Equip people to start a new business or make investments into large and small businesses in manufacturing, trading and service.
• Allow people to participate in trading and business areas which will consequently uplift the manufacturing sector.
• To augment the focus in the rural economy and give preference to Rural industries, rural artisans, agriculture and allied sectors.
• Enhancing the income generation of the small artisans of the states, thus ensuring the sustainable growth of these sectors.

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SVAYEM Scheme Implementation process

1. At first, all the application will be received through the official portal of the RE-SVAYEM.
2. Every application received, will be inspected by the DLCIC (District Level Consultative and Implementation Committee) and accordingly, the beneficiaries will be selected.
3. Selected candidates have to undergo a compulsory training program of 3-5 days under any identified agency, for example- Indian Institute of Entrepreneurship (IIE).
4. Post-Completion of training a ‘Training Allowance’ will be provided.
5. After this, the first instalment will be released only for the beneficiaries who attended the training. The amount will be provided directly into the bank account of the beneficiary.
6. Finally, after three months, the beneficiary has to submit an Activity Report to the DLCIC. The report will determine the further allocation of funds and release of the second instalment of the scheme.

Activities for funds allocation under SVAYEM

Other than these, Agriculture and allied sectors, food processing industries, electric shops, mobile recharge, Tent houses have also been included in the activities eligible for the beneficiaries under the scheme. In addition to this, MSMEs and service industries have also been included in the scheme.

Items banned for fund allocation under SVAYEM

• Manufacturing of Intoxicant items
• Liquor
• Tobacco-related products
• Plastic bags below 40 microns

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Eligibility Criteria

If you are someone under these groups or else, you would definitely want to benefit from the scheme. Therefore, before applying, the aspirants are requested to kindly read the eligibility criteria. Check whether or not you fit into the criteria and then apply for the scheme. We have provided below, the criteria for the same. So, anyone who wants to avail the benefits of this scheme can check the eligibility and apply.

For Individuals

For Groups

In addition to this, applicants will also have to submit a brief profile of the business they want to start/ uptake.

Benefits of SVAYEM scheme

The government has concluded the contributing amount of INR 50,000 will be provided to each beneficiary of the scheme. A total of 1000 crores has been approved for the scheme by the government. All of the financial assistance for the scheme has been disbursed accordingly. The scheme promises:

• A benefit of INR 1 lakh to new entrepreneurs
• Provision of subsidy of INR 20,000 for new entrepreneurs (20%)
• A benefit of INR 2 lakh for existing entrepreneurs
• Provision of subsidy of INR 40,000 for new entrepreneurs (20%)
• Monetary aid and SVAYEM loans will be provided by the public, private and rural banks

Specifications for banking assistance

• The beneficiary of the scheme has to give 25% of the total cost of the project after the SVAYEM loan is sanctioned (for example- for a loan amount of INR 1 lakh, INR 25,000 have to be given to the bank)
• The amount of money granted by the bank, to the beneficiary will be only 55% of the sustained cost of the project. (for example- INR 55,000 will be provided by the bank for the SVAYEM loan amount of INR 1 lakh.
• Also, for capital expenditure (fixed and working), assistance will be provided by the bank in form of SVAYEM loans.
• The SVAYEM loan amount will be released by the bank after claiming the subsidy amount. The nodal bank will release the subsidy to the financing bank.
• Time to repay the loan amount will be 3 to 7 years, according to the concerned bank.
• Hypothecation is allowed for fixed assets like Machinery, plants, etc. and current assets like raw material, furnished and unfurnished products.
• Liquid funds will not be kept as security.

Interest rates for the SVAYEM loans will be as per the RBI guidelines for MSE units.

Documents Required

Aspirants who fulfil all the essential criteria set up by the government will be able to finally apply for the scheme. Similarly, like other schemes, there are some important documents to be considered for availing the benefits of the scheme. We have enlisted all these documents below, to make your application process hassle-free. The documents you will need to apply are:

1. Proof of Age
2. ID Proof (Aadhar card, voter ID, driving license, etc.)
3. Residential Proof
4. Proof of Educational Qualification
5. Certificate showcasing your Experience
6. Proof of Business Ownership
7. Business License
8. Certificate of Business Registration
9. National Food Security card
10. Certificate of any training of Skill Development (if relevant)
11. Assam Ration Card

Registration process for Swami Vivekananda Assam Youth Empowerment Scheme?

If you have all the essential documents, then you are good to go applying for the scheme. Here, we will discuss the application procedure for the Swami Vivekananda Assam Youth Empowerment Scheme. Aspirants who want to apply hence becoming a beneficiary of the scheme can follow the steps given below:

• Visit the official portal of SVAYEM. The portal will look like one shown below. Click on the tab showing ‘New Registration’

• As you click on the tab, you will be redirected to another page where you have to fill in the group name along with a valid mobile number. You need to generate an OTP for the number.

• Enter the OTP, sent to your mobile number.

• Now, you will be required to create a password for your profile. Create a password including the character, alphabets and numbers. Click on ‘Submit’.

• The page will show your successful registration. Click, on the tab showing ‘Login’.

• You will be redirected to the homepage of the portal, where you need to Login now and go on with filling the application form. Fill in all the details and your application is done!

For additional steps, you can refer to the user manual linked below. Read the document carefully to know the further steps of application.

Important links

FAQs