In a bid to encourage entrepreneurship in the state, the Assam government has decided to provide Rs 50,000 each to 2,00,000 youths of the state.

This was announced by the state finance minister Himanta Biswa Sarma in Guwahati on Friday.

Sarma, while addressing the media, said the Rs 50,000 to 2,00,000 youths would be given under the revamped “Swami Vivekananda Assam Youth Empowerment (SVAYEM)” Yojana.

The scheme was originally launched in 2017-18.

“Rs 1,000 crore has been earmarked for this scheme. It would continue for an indefinite period,” Sarma added.

The financial assistance would be provided to the members of self-help groups or joint liability groups registered before September 1.

Youths below the age of 40 years and with a minimum qualification of matriculation would be considered eligible for this scheme.

“After launching the Yojana under the Industry and Commerce Department in 2017-18, the initial target was one lakh youths,” Sarma said.

“Due to some technical reasons, the target was not fulfilled and the desired goal was not achieved,” he added.

“Hence, the Assam government launched the revamped SVAYEM,” he further said.

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