The Assam government has decided to provide financial assistance of up to Rs 5 lakh to one lakh youth...
Digital Desk: In a significant move to empower its youth and foster entrepreneurship, the Assam government has unveiled a groundbreaking initiative, offering substantial financial assistance of up to Rs 5 lakh to one lakh deserving individuals in the state this year. The decision was formalized during a cabinet meeting on Tuesday.
After the cabinet meeting, state Minister, Jayanta Mallabaruah, expressed the government's enthusiasm for this visionary project, stating, "The government has undertaken an ambitious project for the youth of the state. Financial assistance ranging from Rs 2 to 5 lakhs will be granted to 1 lakh youth this year under the 'Atmanirbhar Assam' scheme. The allocated amount will be determined based on their educational qualifications and skills, facilitating diverse business opportunities."
Under the scheme, individuals receiving Rs 5 lakh will benefit from a 50% contribution from the state government, while the remaining portion will be financed by a designated bank at a low-interest rate. Importantly, no interest will be levied on the bank's contribution during the first five years.
A dedicated portal, set to launch on September 23, will serve as the entry point for interested applicants. Eligible candidates will be selected through a rigorous procedure, offering a life-changing opportunity for Assam's youth to realize their entrepreneurial aspirations.
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