Yuva Aajeevika Yojana

The government of Himachal Pradesh has launched Yuva Aajeevika Yojana in the year 2018. Yuva Aajeevika Yojana is a youth livelihood loan subsidy scheme. Under this scheme, the government provides financial assistance to unemployed youth in the state. Main focus of this scheme is to create employment opportunities amongst the youth. In this article, we will look at Yuva Aajeevika Yojana in detail.

Features of Yuva Aajeevika Yojana

Features of Himachal Pradesh Yuva Aajeevika Yojana, the Entrepreneurship development programme are listed below:

Himachal Pradesh Government provides capital required for starting a business to unemployed youth.
By providing financial assistance to the youths, the Government is eliminating unemployment in the state and creating employment opportunities.
This scheme is applicable for both rural and urban youth in Himachal Pradesh.
If an applicant is planning to buy land for starting his/ her business, Government provides reduced stamp duty at the rate of 3%. Actual stamp duty in the state is 6%.
Himachal Government has announced that a total of 25% female applicant will get benefit under this scheme.

Loan Amount and Subsidy

Under this scheme, Government provides a loan of upto Rs.30 lakh for all eligible candidates to start their business. Interest rate under this scheme is 5%. The government will provide subsidy at this rate for three years. Official announcement of Government is that Rs.75 crore has been approved for providing financial assistant to young youths under this scheme.

Business under Yuva Aajeevika

Youth can start any type of business using this loan amount but such business should be operated within Himachal Pradesh state only. Eligible youth can also start the following list of business:

Retailer shops
Open doors
Restaurants
Tourism such as Adventure Tourism
Traditional Craft Works

Eligibility Criteria

Eligibility criteria to obtain loan under Himachal Pradesh Yuva Aajeevika Yojana is explained in detail below.

Residence of Himachal Pradesh only can avail loan under this scheme
Age of the youth should be 18 to 35 in order to apply for Yuva Aajeeva Loan.
Unemployed youths who have no source of income is eligible for Yuva Aajeeva Yojana.

Documents Required

Residential Proof – Resident Certificate needs to be produced to avail loan under this scheme. Age Proof – To prove the age of the applicant, birth certificate or mark sheets can be produced. Declaration of Unemployment – Applicant has to produce an official declaration that they are not affiliated with any job and not receiving any income

Yuva Aajeevika Yojana Application Procedure

Himachal Pradesh Government has merely introduced Yuva Aajeevika scheme and is on the edge of implementing it. Panchayati Raj Department of Himachal Pradesh has prepared guidelines and application procedure for Yuva Aajeevika Scheme. Panchayat has sent these guidelines to Himachal Pradesh Government for approval. Hence the application procedures and guidelines for enrolment have not yet been specified. Once approval is done, the concerned department will announce the process of application and date for application etc.

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Frequently Asked Questions

Common questions about Yuva Aajeevika Yojana: Youth Loan Scheme in Himachal Pradesh.

The Yuva Aajeevika Yojana is a youth livelihood loan subsidy scheme launched by the government of Himachal Pradesh in 2018. It aims to provide financial assistance to unemployed youth in the state to create employment opportunities and promote entrepreneurship.

To be eligible for the Yuva Aajeevika Yojana, the applicant must be a resident of Himachal Pradesh, aged between 18 and 35 years, and unemployed with no source of income.

Under the Yuva Aajeevika Yojana, the government provides a loan of up to Rs. 30 lakh for eligible candidates to start their business.

The interest rate on the loan under the Yuva Aajeevika Yojana is 5%. The government will provide a subsidy at this rate for three years.

Youth can start any type of business using the loan amount, as long as it is operated within the state of Himachal Pradesh. Some examples include retail shops, restaurants, tourism-related ventures, and traditional craft works.

Yes, the Himachal Pradesh government has announced that 25% of the applicants benefiting from the Yuva Aajeevika Yojana will be female.

Applicants need to provide a residential proof (Resident Certificate), age proof (birth certificate or marksheets), and a declaration of unemployment stating that they are not affiliated with any job or receiving any income.

If an applicant plans to buy land for starting their business, the government provides a reduced stamp duty rate of 3% instead of the actual 6% stamp duty in the state.

The Himachal Pradesh government has approved an allocation of Rs. 75 crore for providing financial assistance to young entrepreneurs under the Yuva Aajeevika Yojana.

The application procedures and guidelines for enrollment in the Yuva Aajeevika Yojana have not yet been specified by the government. The concerned department will announce the process and application dates once the guidelines are approved.