Loan Scheme For Unemployed: The Telangana government will launch the Rajiv Yuva Vikasam scheme for unemployed youth on June 2. In the first phase, loans up to Rs. 1 lakh will be given, and sanction documents will be issued to 5 lakh people. The government has allocated Rs. 1,100 crore for this scheme. 16.23 lakh unemployed people have applied, and the district collectors will select the beneficiaries. Under Category-1, loans up to Rs. 50 thousand will be given completely free of cost.
It is known that the Telangana government has launched the Rajiv Yuva Vikasam scheme for unemployed youth . Under this scheme, in the first phase, loans of up to Rs. 1 lakh will be provided. On June 2, sanction documents will be given to 5 lakh eligible people. As part of this, category-1 and 2 units have been selected. The government has estimated that Rs. 1,100 crore is required to implement this scheme immediately. This program has been undertaken with the aim of providing self-employment to unemployed youth. The government has set a target of providing sanction documents for self-employment units to 5 lakh youth in the first year itself under this scheme.
16.23 lakh unemployed youth have applied for the Rajiv Yuva Vikasam scheme. With the approval of the district ministers, the collectors will complete the selection process of the beneficiaries by the end of this month. The government has decided to spend Rs. 6,000 crore in three installments of Rs. 2,000 crore per month for the Yuva Vikasam scheme.
The government will sanction loans according to categories. The welfare departments are preparing the work related to this. Bank linkage is mandatory for all categories except Category-1 units. Fewer applications have been received for Category-1 and 2 loans. The government hopes to benefit 2.8 lakh people under these two. It has been estimated that Rs. 2 thousand crores will be required in the first phase.
Under Category-1, loans up to Rs. 50 thousand are given completely free of cost. Although it was planned to give loans to 1.58 lakh people in Category-1, only 39,401 applications were received. In Category-2, it was planned to give loans between Rs. 50 thousand and Rs. 1 lakh to 1.22 lakh people. But, only 93,233 people applied. In a recent review, the government decided to give loans immediately to all eligible beneficiaries in these two categories. Officials said that the government has decided to sanction loans up to Rs. 1 lakh in the first phase.
On the other hand, the government has already clarified that there is no truth in the campaign that beneficiaries of the Rajiv Yuva Vikasam scheme will be selected based on the CIBIL score. Also, Deputy CM Bhatti Vikramarka suggested that a special nodal officer should be appointed at the state level for this scheme and move forward. The government hopes that this scheme will be very useful for unemployed youth. Meanwhile, official sources say that more than 80 percent of the applications under the Rajiv Yuva Vikasam scheme were for a loan of Rs. 4 lakh. However, it seems that priority is being given to those who are taking a loan for the first time under this scheme.
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