Guwahati: Assam Chief Minister Himanta Biswa Sarma today unveiled the online portal for the application submission process for the 'Mukhya Matrir Atmanirbhar Asom' (chief minister’s self-reliant Assam) with the stated objective of helping the youth of the state establish their own businesses.
The Chief Minister’s Atmanirbhar Assam initiative was launched on September 23, 2023, marking a pivotal moment for the state's youth.
Addressing the media, Biswa Sarma said that the scheme would help the youth financially and render them eligible for other central government loans. According to the state government, 2,29,145 beneficiaries have already registered through a dedicated web portal for the Mukhya Matrir Atmanirbhar Asom scheme.
Highlighting the specifics of the initiative, Sarma said, “1,591 youth possessing professional degrees would be entitled to a loan amount of Rs 5 lakh. This substantial loan comes with a unique structure, where 50% constitutes a government subsidy, and the remaining 50% is an interest-free loan.”
Under this latest scheme, the government has set a target of empowering two lakh youth for entrepreneurial ventures. The beneficiaries under this scheme stand to receive Rs 2 lakh in two installments. Beneficiaries will receive Rs 1 lakh as a government subsidy and the remaining Rs 1 lakh will have to be repaid after completing five years in business, without any interest.
Through these loans, the state government seeks to facilitate the establishment of micro-enterprises or service units.
ALSO READ: HDFC’s star-studded campaign for PayZapp. What is it about?
FIRST Business Portal addressing the potential of business capability of North East Region.
