Deen Dayal Swavalamban Yojana
Deen Dayal Swavalamban Yojana
The State Government of Arunachal Pradesh has initiated Deen Dayal Swavalamban Yojana, a startup loan scheme. Under the Deen Dayal Swavalamban Yojana, the state government is providing financial assistance in the form of subsidy on startup loan. This scheme aims to encourage unemployed youth to gain to low-cost capital for setting up of entrepreneurship. In this article, we look at the Deen Dayal Swavalamban Yojana in detail.
Salient Features
Under this scheme, the government has made some provision which are given below:
- The government is providing with the loan amount between Rs. 10 lakhs to over Rs. 1 crore for establishment of the youth.
- By using this loan, youth can set up small and medium enterprises.
- The women in the state will get the added benefit as an entrepreneur.
- The applicants can take the loan from any bank of the state, but the approval of State Level Sanctioning Committee (SLSC) is imperative.
- The candidate has to be contributed at least 10% amount of the total cost of the project. Those who contributed a greater portion of the project will get preference by the concerned authority.
- The Government has also launched an online social media portal where the entrepreneurs and youth can get connected on a single platform.
Interest Rate and Subsidy Provided
- The loan amount will be given at a subsidised rate of 30% by the government.
- The subsidised amount will also be credited to the bank through NABARD
- Project loan from Rs 10 lakh up to 1 Cr (excluding the cost of land & building)
- For any women entrepreneur in the state who wants to take the benefit under this scheme will be provided with additional 5% subsidy on the rate of interest annually for setting up enterprises so that the loan cannot become Non-Performing Asset (NPA).
Note: It should be noted that this amount must not include the cost of land and building.
Documents Required
The applicants should possess the following documents to apply for Deen Dayal Swavalamban Scheme:
- Proof of Identity (Aadhar card, Voter’s ID, Passport, Driving License, PAN card, etc.)
- Proof of residence (Telephone bills, Electricity bill, Property tax receipt, etc.)
- Proof of business Address
- Caste Certificate
- Applicant should not be a defaulter in Bank.
Application Procedure
Kindly follow below-mentioned step by step guidelines to apply for Deen Dayal Upadhyaya Swavalamban Yojana.
Step 1: The applicant needs to visit the official website of the Government of Arunachal Pradesh to apply for the scheme.
Step 2: You can download the application form of Deen Dayal Upadhyaya Swavalamban Yojana (DDUSY) using this link. The DDUSY application form in PDF format is reproduced below:
Step 3: Now take a print of the downloaded application form.
Step 4: You have to fill all the mandatory details in the application form correctly and then affix all the required documents with the form.
Step 5: After completing the application successfully, submit the application form in the Office of ADC, HQ.
Step 6: Then you have to collect an acknowledgement of receipt from the office of ADC, HQ.
After approval from both the District Level Screening Committee (DLSC) and State level Screening Committee (SLSC), the candidate can submit their proposal for a loan in any bank of state.
