AP YSR Navodayam Scheme
AP YSR Navodayam Scheme
The Andhra Pradesh Government has initiated the “YSR Navodayam Scheme” to support and promote the Micro, Small and Medium Enterprises (MSMEs) under the state. Under this scheme, the Government intends to provide financial assistance to the eligible industrial units engaged in the manufacturing and service sectors. The YSR Navodayam Scheme otherwise known as “AP Tailors Scheme” where the State Government proposes to provide a one-time grant of INR 4000 crore for restructuring to the MSMEs. Let us look in detail about the AP YSR Navodayam Scheme in this article.
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Objective of the Scheme
The objective of the YSR Navodayam Scheme was to accelerate economic growth and boost in the process of industrialization in the State. In order to enhance employment, the AP Government is incentivizing the youngsters in the State. Under this scheme, the Government supports and provides financial assistance to the Tailors, Barbers and Weavers of the State. The Government is also providing specific incentive amount through the scheme to generate employment.
Key Highlights of the AP Tailors Scheme
Some of the key features of the AP Tailors Scheme are given below:
- The AP cabinet committee has decided to allow one-time grant for the restructuring and developing infrastructure of MSMEs of around INR 4000 crores.
- Under the Scheme, the Government will provide more credit and immediate investment to the Micro, Small and Medium Enterprise (MSMEs).
- The State Government has fixed a time frame of 9 months to utilize the funds that are released under the AP YSR Navodayam Scheme.
- This YSR Navodayam Scheme has been rolled out with the goal of facilitating the growth and development of the Coir Industry.
- On implementing the scheme, the Government ensures that the MSMEs does not become Non-Performing Assets (NPA).
- The State cabinet has also approved to set a new enactment to promote investments in the state. For this purpose, the AP Investment Promotion and Monitoring Act-2019 Draft Bill will be put into effect by official proclamation.
- The cabinet board has also approved the draft bill over the control and supervision of schools and higher education institutions. The main aim is on ensuring the quality standards in the education fields, fees control and implementation of Right to Education (RTE) Act.
- Reservation to SC/ST/BC: The Government decides to provide 50% of reservation to the BC, ST, SC and Minority categories in the Government corporations, boards, societies, trusts and market yards and in the Government nominated contracts, service contracts and nominated posts. It is proposed that 50% reservation to women in nominated posts will be provided. In addition to this, 50% reservation would be provided to BC, SC, ST classes in the temple committees.
- Free Electricity to SCs: The State Government has approved to provide free electricity to the SCs up to 200 units. For this purpose, the Government will spend INR 411 crore for the benefits of SCs.
- Employment for Youths: The AP cabinet has approved the bill in relation to the employment of jobless youths. All the local unemployed youth would be entitled to 75% of jobs in the industries in their areas. All the people who lost their lands in land acquisition to set up industries would be provided with employment opportunities in those industries. The state cabinet board has also approved a proposal to provide INR 10000 financial aid to weavers, barbers and tailors.
To know about the Andhra Pradesh MSME Policy
The below following are the criteria to be fulfilled by the enterprises to avail the grant:
- Applicants working as Barbers, Tailors, Weavers and MSMEs workers are covered under this scheme.
- The benefit of the scheme will be provided only to the permanent residents of AP.
- The beneficiaries must belong to the Below Poverty Line (BPL) population.
- To get the benefits under this scheme, the applicants need a bank account.
The eligible beneficiary must attach the below following documents to apply for this scheme:
- Identity Proof: PAN, Aadhaar, Driving License, Voter Identity Card, etc.
- Address Proof: Aadhar Number, legal Passport, Utility bill, Property tax bill, etc.
- Below Poverty Line Certificate
- Income Certificate
- Bank Account Passbook (Photocopy of the first page)
- Any other documents (if applicable)
Quantum of Assistance
The MSMEs will receive a budget of INR 400 Crore in this financial year of 2019-20 from the State Government. On the other hand, the tailors, weavers and barbers will also get the financial assistance of INR 10000/- under this scheme.
In the cabinet meeting, the Government has decided to provide free electricity up to 100 units for the SC category of people. Apart from this, the youths of the AP State will get a reservation of 73% in the local industries if they lose their property to it.
Implementation of the Scheme
AP Tailors Scheme is implemented under the Andhra Pradesh State Kapu Welfare and Development Corporation. The necessary funds to operate this scheme and to meet the financial requirements on behalf of the State Government and its Agencies would also be provided in the budget allocation of the Industries and Commerce Department.
AP YSR Navodayam Scheme can be applied by providing the requested information and fill up the applications who are ready to get the benefits of this scheme. The online application procedure for this scheme will be intimated in the official portal by the government. The State Government is more likely to opt for an online application process for the ease of the applicants.