The Deen Dayal Upadhyaya Swavalamban Yojana is a project of the Government of Arunachal Pradesh that started in 2017-18. The objective of this project is to encourage startup culture. The Government of Arunachal Pradesh provides financial support to unemployed youth and motivates them to start businesses so that the overall development of the state can take place.
Arunachal Pradesh has many natural resources, so the government wants the youth to come forward to start businesses and increase the economic growth of the state. DDUSY reduces the financial burden of unemployed youth and has been helping them a lot in starting their own startups.
Now, let us see who is eligible for this scheme and other related information.
Objectives of The Deen Dayal Upadhyaya Swavalamban Yojana
The main objective of this scheme is that jobless youth can become independent. Youth should be interested in starting small and medium-sized businesses. The government provides financial support for business capital. The government wants regional development to take place, and through this, youth should not remain dependent only on government jobs. Due to a lack of money, the futuristic ideas of youth should not go to waste, and if interest in business increases, then the economic growth all over Arunachal Pradesh will increase a lot.
Eligibility criteria for DDUSY Scheme
The youth who apply must be permanent residents of Arunachal Pradesh. The applicant must be unemployed and should have a strong mentality to start a business. The person who wants to start a business must submit a detailed project report. If the applicant has a degree in the field in which they want to start the business, then they will be given preference.
Application process
- The person who wants to benefit from this project must submit a detailed project report (DPR) about the business they want to start.
- The application has to be submitted to the District Planning Office.
- After submission, the District Level Screening Committee (DLSC) carefully checks the project.
- Then the State Level Screening Committee (SLSC) checks it again and approves it.
- After completing these processes, the loan is finally received.
Benefit of This Project
The government will provide 40% of the total cost required to start the business. Under this scheme, a loan from ₹10 lakh to ₹50 lakh can be received. At first, a small amount has to be invested by the applicant, and the remaining support is given by the government. Women who want to start a business get extra benefits. The government gives a 5% interest subsidy on the loan every year, but only if the loan remains regular.
Under this scheme, the financial burden on jobless youth becomes much less. Instead of depending only on jobs every day, they try to do something on their own. Encouraging entrepreneurship is one of the main aims of the government. If startups increase, other people will also get job opportunities. Different sectors are supported, such as tourism, agriculture, IT, etc. Overall, the development of the whole of Arunachal Pradesh is the main goal.
Achievements of This Scheme
- Many unemployed youths have started businesses with the help of this scheme.
- After this plan came into place, the amount of entrepreneurship has increased a lot.
- Businesses in tourism, agriculture, food processing, etc. have grown much more.
- Women have also come forward to do something on their own.
- Because of government support, the financial burden on youth has been reduced a lot. Development in rural areas has increased.
- A large part of the youth earlier depended on government jobs, and that has reduced a lot.
- Overall, this plan has helped a lot in the financial growth of Arunachal Pradesh.
FAQs
Who is this scheme for?
Unemployed youth who are permanent residents of Arunachal Pradesh are eligible for this scheme.
How much loan can be received?
A loan from ₹10 lakh to ₹50 lakh can be received.
What is there for a woman on that scheme?
If the loan remains regular, the government gives a 5% interest subsidy every year to women.