Yuvashree Arpan Scheme

Yuvashree Arpan Scheme

Yuvashree Arpan Scheme

The Government of West Bengal has launched a new scheme called Yuvashree Arpan on 6th March 2019. Yuvashree Arpan scheme provides financial assistance to encourage entrepreneurship among youth in the state. Under this scheme, eligible youth will get an assistance of Rs. 1 lakh for setting up new enterprise. The implementation of the scheme is performed by the Department of Micro, Small and Medium Enterprises (MSME) which act as the nodal agency. In this article, we look at the Yuvashree Arpan Scheme in detail.

Benefits of the Yuvashree Arpan Scheme

The benefits of the Yuvashree Arpan Scheme are as follows:

  • Yuvashree Arpan scheme promotes self-employment and creates employment opportunities in different fields.
  • Under this scheme, around 50,000 youth will get assistance to start their business venture.
  • This scheme will reduce the unemployment rate in the state of West Bengal.
  • The money (financial assistance) will be directly transferred to the beneficiary bank’s account.
  • The eligible candidates will get training on skill development based upon their business ideas.

Eligibility Criteria

To apply for self-employment assistance under this scheme a person should possess the following criteria:

  • The applicant should be the native of West Bengal state to get the benefits under the scheme.
  • The applicant should not avail any financial assistance or loan under State or Central Government relating to self-employment scheme.
  • The applicant should hold technical degrees from recognised institutions to apply for the scheme.
  • The applicant should have new business ideas, and startup plans to create self-employment among themselves.
  • The applicant should not have been punished for any criminal offence.

Documents Required

The required documents are to be furnished along with the application form.

  • Address proof (valid passport, utility bill, property tax bill, etc.) of the applicant.
  • Identity proof (PAN card, Aadhar card, etc.) of the applicant.
  • Copy of higher secondary mark sheet of the applicant.
  • Degree certificate of the applicant.
  • Other educational certificates, optional.
  • Two passport size colour photographs of the applicant.
  • Bank account details (copy of bank passbook) of the applicant.

Application Procedure for Yuvashree Arpan Scheme

As the scheme has been presented recently by the West Bengal Government has yet to be revealed about the application process. If the applications are rolled out, then the eligible beneficiaries will be able to get the application form from the authorised website of state government.

Under this entrepreneur scheme, the assistance (money) will be directly sent to the beneficiary’s bank account through direct bank transfer if your application is selected.

Also, read about, How to Start a Business in India

Post by Karthiga

IndiaFilings is India's largest online compliance services platform dedicated to helping people start and grow their business, at an affordable cost. We were started in 2014 with the mission of making it easier for Entrepreneurs to start their business. We have since helped start and operate tens of thousands of businesses by offering a range of business services. Our aim is to help the entrepreneur on the legal and regulatory requirements, and be a partner throughout the business lifecycle, offering support at every stage to ensure the business remains compliant and continually growing.