Whether it is the public or commercial sector, there are insufficient jobs in every industry. For this reason, it is crucial to promote self-employment. The Himachal Pradesh state administration has taken action by announcing a new program for the state’s young. Not only will the potential of self-employment be investigated in this research. Additionally, it will motivate the state’s jobless young to establish businesses in the micro, small, or medium capacity categories.

What Advantages Does the H.P. Scheme’s Mukhyamantri Swavalamban Yojana Offer?

• Encouraging Youth: The primary goal of this program is to inspire young people to work for themselves and express interest in launching their own companies.
• Reduce job Shortage: The state’s employment shortage issues will be resolved with the completion of this project. Instead of moving about looking for work, they will be able to launch their own company. They could also turn into employable bosses.
• Government Land for Rent: A self-employed person may request assistance from the government in order to obtain land. The state government will only charge 1% of the actual rate of that land if it receives consent from the HP government and want to rent government land.
• Reduction in Stamp Duty: The government will also lessen the quantity of stamps that young people must fill out in order to encourage them to engage in the self-employment program on a larger scale. Instead of 6% stamp duty, you will only need to pay up to 3% if you choose to purchase any land under this project.

Subsidy Rates:

• Women: 30%
• Widows: 35%
• Others: 25%

What are the requirements to be eligible for the H.P. Mukhyamantri Swavalamban Yojana?

• Residency: Must be a resident of Himachal Pradesh.
• Age: Between 18 and 45 years.

Which Documents Are Required for the H.P. Mukhyamantri Swavalamban Yojana?

• Aadhar Card
• Residence Certificate
• Project Report/Business Plan
• PAN Card
• Passport-sized Photograph
• Bank Passbook
• Mobile Number

Conclusion

By giving them financial help and encouragement to launch their own enterprises, the Mukhyamantri Swavalamban Yojana aims to empower the young of Himachal Pradesh, thereby promoting economic growth and lowering unemployment rates in the region.