The government of Assam introduced the Swami Vivekananda Assam Youth Empowerment (SVAYEM) Yojana in 2017. The SVAYEM plan gives financial assistance to young people in Assam to pursue revenue-generating ventures in the commerce, manufacturing, and service sectors. However, SVAYEM’s primary goal is to create work opportunities for young people through the formation of new businesses and the expansion of current ones.

Highlights of the SVAYEM scheme:

• The Swami Vivekananda Assam Youth Empowerment Scheme would increase the income of Assam’s traditional craftspeople by offering financial credits to qualified candidates.
• SVAYEM provides financial assistance to micro, small, and medium-sized businesses in Assam. However, the MSME should work in the manufacturing, commerce, and service sectors.
• The project aims to create jobs for qualified youngsters in rural and urban areas of Assam by establishing new companies and expanding current ones.
• The SVAYEM initiative is open to businesses in manufacturing, trading, processing, rural transportation services like as autorickshaws and e-rickshaws, the service sector, tourism, shops, repair centers, handicrafts, and cottage industries.
• Approximately 1 lakh adolescents in Assam will receive appropriate financial assistance to start income-generating firms.

What are the eligibility requirements for the SVAYEM scheme?

• The applicant’s age must be at least 18 years.
• To profit from this SVAYEM plan, the candidate must be unemployed.
• Applicants must be residents of Assam.
• Every candidate must have the necessary skills, experience, and knowledge to carry out the income-generating activities under the scheme.
• The applicant’s educational qualification should be at least above class VII.
• Applicants who have already completed Skill Development Training will be given preference.
• The applicant must not be a defaulter at any bank in the country.

What are the documents required for the SVAYEM scheme?

• SVAYAM Application Form.
• Required documents include a project report/business plan and proof of the applicant’s identity.
• Certificate of Class 7th qualification.
• Applicant’s proof of age.
• Skill Development/Trainee certificate, if relevant
• Provide a copy of your business license and proof of residence.
• Copy of the business registration certificate.
• Ownership and identification documents
• If you have any experience, please provide a certificate.

Conclusion

The Svayem Scheme has the ability to significantly boost youth entrepreneurship, stimulate socioeconomic development, and cultivate an atmosphere that is favorable to innovation and expansion in Assam. Through the provision of financial aid, education, career guidance, and connections to the business community, the program enables young people to realize their full potential, support the state’s economy, and create prosperous futures for themselves and their communities.