4 government loan schemes for unemployed youth in India
To curb the major problem of unemployment in the country, the government has
introduced
some schemes to facilitate the establishment of MSMEs and create employment opportunities. Also, there are Government-sponsored loans for unemployed youth to start their own business.
Some of the loan schemes by the government are:
1. Pradhan Mantri
Rozgar Yojna: This scheme was started in 1993 to provide finance
to
unemployed youth for starting a business. Some of its key features
are:
• Individuals
who have studies class VIII can apply for a loan?
• Training is
given to the borrower for starting a business.
• The maximum the loan amount available is Rs.5 lakhs.
2. Agriculture
loans: Unemployed individuals above 22 who are small marginal
farmers, tenant farmers, sharecroppers, etc. can apply for the
loan.
Loan up to Rs. 1 lakhs can be availed under this scheme.
3. New Entrepreneur
cum Enterprise Development Scheme (NEEDS): Introduced by the
Directorate of Industries and Commerce, Tamil Nadu Government. For
the individuals between 21-35 years, the state government offers
25%
of the loan amount as a subsidy. However, the borrower needs to
have
a degree or diploma or vocational training from a recognized
institution.
4. Cash loan:
Individuals between 18-45 years can borrow cash loan up to Rs.
50,000, provided by the West Bengal government.
Read more in detail: Government Loans & schemes for Unemployed people
Comments
Post a Comment