In a bold step to boost self-employment and drive economic growth, Telangana Chief Minister A. Revanth Reddy unveiled the ‘Rajiv Yuva Vikasam’ Scheme right at the Telangana Legislative Assembly. This initiative is all about offering financial support to unemployed young people from Scheduled Castes (SC), Scheduled Tribes (ST), Backward Classes (BC), and Minority communities. With a hefty budget of ₹6,000 crore, the government is setting its sights on creating self-employment opportunities for half a million youth throughout the state.
Objectives of the Rajiv Yuva Vikasam Scheme
The main goal of this program is to help unemployed young people by giving them financial support to start their own businesses. This initiative also fits into the government’s broader vision for economic growth and social improvement, especially for underprivileged communities.
Key Goals:
- Provide self-employment loans to eligible youth.
- Reduce unemployment rates among SC, ST, BC, and Minority communities.
- Promote entrepreneurial spirit and economic self-sufficiency.
- Ensure equitable distribution of financial support across various sections of society.
Financial Assistance and Subsidy Structure
Under the Rajiv Yuva Vikasam Scheme, individuals can get financial support of up to ₹3 lakh to kickstart their own self-employment ventures. This subsidy setup aims to provide substantial financial help, making sure that loans are both affordable and easy to obtain.
Subsidy Breakdown:
- Loans up to ₹1 lakh – 80% subsidy provided by the government.
- Loans up to ₹2 lakh – 70% subsidy provided.
- Loans up to ₹3 lakh – 60% subsidy provided.
This tiered structure allows greater financial support for smaller loans, encouraging youth to take up small and medium-scale entrepreneurial ventures.
