SVAYEM Scheme Assam 2020: Eligibility Criteria, Application Form

Swami Vivekananda Assam Youth Empowerment Yojana SVAYEM Scheme Assam 2020

Swami Vivekananda Assam Youth Empowerment Scheme or in short SVAYEM Scheme Assam is a flagship scheme introduced by the Assam govt in 2017. The scheme was announced by the Finance Minister Shri Himanta Biswa Sharma during his budget speech on 7th Feb 2017. The scheme aims to provide financial assistance to the youth of the state who are working in the manufacturing, trading, and service sector.

The Scheme was earlier monitored by the Department of Industries & Commerce, but this time the scheme will be implemented by the Finance Department with the help of other nodal agencies.

SVAYEM Scheme Highlights

Name of the SchemeSwami Vivekananda Assam Youth Empowerment (SVAYEM) Scheme
Launched ByAssam Finance Minister Shri Himanta Biswa Sharma
Launch Year7th, Feb, 2017
Re-launch16th September, 2020
Objective of the SchemeTo help small and existing business owners and hence
generate employment opportunity
Allocated BudgetRs 1000 crore
BeneficiaryYoung generation age below 40 years
No of beneficiaries2 lacs
Application ModeOnline
Official Websitehttps://finance.assam.gov.in/
SVAYEM Scheme Assam

Objective of the Scheme

  • The primary objective of the scheme is to help financially to the small and medium business owners who are working on the manufacturing, trading, and service sector.
  • To generate employment opportunities in the state. Due to COVID 19 pandemic, unemployment is growing at a high rate. Hence, the scheme will encourage youths to set up their own business.
  • To provide financial assistance to the traditional artisans which will help them to increase the income level and sustainable growth.

List of activities accounted under SVAYEM Scheme Assam

The nature of activities that include

  1. Manufacturing industry
  2. Processing industry
  3. Service industry
  4. Trading industry
  5. Rural Transport Service
  6. Tourism industry
  7. Shops, repairing shops, handicraft, cottage industry

Below are the list of industries that are not included under this scheme:

  • Manufacturing of intoxicant items
  • Beedi, Panmasala, Cigarette, etc.
  • Sales outlet of Liquor
  • Plastic bags below 40 microns

Eligibility Criteria for SVAYEM Scheme Assam 2020

The applicants must fulfill the eligibility criteria to avail the benefits of SVAYEM Scheme 2020. Below are the criteria that one should fulfill before applying.

  • The applicant should be a permanent citizen of Assam state and he/she should be at least 18 years old.
  • The applicant should be at least HSLC(matriculation) passed.
  • The applicant should be a member of any existing SHG’s(Self-help groups), Joint Liability groups before 1st September 2020.
  • The applicants who completed Skill Development Training will be given more priority.
  • The applicant should not be a defaulter of any loan. If the information given during the application process is found false, then strict action will be taken against that individual and will be blacklisted from all coming govt scheme benefits.
  • Applicants who are the beneficiaries of the Prime Minister Employment Generation Programme(PMEGP) scheme for the last 5 years are not eligible under this scheme.

Also Read, Arunaday Scheme Assam 2020

SVAYEM Scheme Assam

Benefits of SVAYEM Scheme Assam 2020

  • Under the Naveen Swami Vivekananda Assam Youth Empowerment Scheme (SVAYEM) scheme, Rs 50,000 will be provided to each person as seed money.
  • Since the scheme is applicable to all SHGs. Hence, the group with five members will be entitled to Rs 50,000 each(total 2.5 lacs rupees). Similarly, the group with ten members will be entitled to Rs 5,00000(Rs 50,000 each). The maximum limit of members in a group is 20.
  • The total budget for the project is Rs. 1000 crores which will be fully funded by the state government of Assam. The beneficiaries will include SHGs(Self-help groups), joint liability groups, and all members of national teams and associations that have organized themselves for entrepreneurial projects.

 How to apply for SVAYEM Scheme 2020

To apply for SVAYEM Scheme 2020, follow these simple steps:

  • At first, go to the official website of Assam Govt Finance website. To visit, click here.
  • Now Click on the option “SVAYEM Scheme Assam 2020 Online Application”.
  • When you click on SVAYEM Scheme, a new window will be displayed on the screen.
  • Now fill up the online application and submit the necessary documents.

Download SVAYEM Scheme Assam Application Form: Click Here