The Government of Assam relaunched its old scheme Swami Vivekananda Assam Youth Empowerment (SVAYEM) worth Rs.1000 crore. The scheme is aimed to provide self-employment opportunities to more than 2 lakh youths of the state.

SVAYEM:

The Scheme was launched as a part of the budget in 2017-2018 to benefit around 1 lakh youths.Due to lack of support from the banks, the scheme benefited only around 7000 beneficiaries.

• Features of Relaunch of SVAYEM:

i.The redesigned SVAYEM with Rs. 10000 crore budget, which is generated by the revenue of the state without banking linkage is planned to be spent in the following three months.

ii.A new portal will be launched on 16th September 2020 to enable self-registration of the groups who seek to utilise the benefits of the scheme.

• Benefits:

Redesigned SVAYEM will provide around Rs.50000 as a seed money to start a business venture to the qualified beneficiaries.

• Eligibility: Age: below 40years.

Qualification: should have passed matriculation and be a part of existing self-help groups, joint liability group etc. before 1st September 2020.