Golden Employment Opportunity for SC Youth: Financial Assistance for Projects up to ₹50 Lakh Under Sant Ravidas Self-Employment Scheme

To encourage self-employment among youth belonging to the Scheduled Caste (SC) category, financial assistance is being provided under the Sant Ravidas Self-Employment Scheme for projects in the manufacturing, service, and retail sectors. This scheme is implemented by the District Antyavasayi Cooperative Development Committee.

Project Limits and Eligibility:

Under the scheme:
For manufacturing units: Projects ranging from ₹1.00 lakh to ₹50.00 lakh are eligible.
For service and retail trade sectors: Projects from ₹1.00 lakh to ₹25.00 lakh are considered.

The benefits are available only for setting up new enterprises. Eligibility criteria include:

1. The applicant must belong to the Scheduled Caste category.
2. Must be a permanent resident of the district.
3. Age should be between 18 to 45 years.
4. Should have passed at least 8th grade.
5. The annual family income should not exceed ₹12 lakh.
6. The applicant should not be a defaulter of any bank or financial institution and should not be availing benefits under any other self-employment scheme.

Definition of Family:

If the applicant is unmarried, the family includes only parents.
If married, the family includes the spouse and unmarried dependent children.

Financial Assistance and Training:

A 5% annual interest subsidy on loans disbursed or outstanding from the bank will be provided for up to 7 years, subject to regular repayment.
The Government of Madhya Pradesh will bear the guarantee fee.
Interested beneficiaries will receive a 12-day online entrepreneurship development training.
The scheme covers eligible projects in the industry, service, and trade sectors under the CGTMSE guarantee scheme.

How to Apply:

Applications can be submitted online through the portal: www.samast.mp.gov.in.
For more details, applicants can contact the Executive Officer, District Antyavasayi Cooperative Development Committee at Room No. 121 and 122, Collectorate Office, during working hours.

Note: This scheme is a significant step towards empowering SC youth by promoting self-reliance and fostering entrepreneurship.