Jaipur: Chief Minister Bhajan Lal Sharma Sunday shared details of the Vishwakarma Yuva Udyami Protsahan Yojana, a flagship scheme aimed at empowering Rajasthan’s youth to become self-reliant by promoting entrepreneurship and self-employment. The scheme was announced in the state budget 2024-25 and with modifications was approved by the state cabinet on Aug 23.Under the scheme, persons between the ages of 18 and 45 years will be able to avail of loans through financial institutions at subsidised interest rates to set up new enterprises or expand, diversify, and modernise existing ones. An interest subsidy of up to 8% on loans of up to Rs 2 crore will be provided, helping to ease financial hurdles and enabling young entrepreneurs to focus on innovation, quality, and growth.To make the scheme inclusive, the govt has made provisions for women, Scheduled Castes (SC), Scheduled Tribes (ST), differently-abled entrepreneurs, enterprises in rural areas, and card-holding weavers and artisans. These categories will receive an additional 1% interest subsidy on loans above Rs 1 crore and up to Rs 2 crore. The scheme also provides margin money assistance of 25% of the loan amount or up to Rs 5 lakh, whichever is lower, to further reduce the initial financial burden on young entrepreneurs.
