The Telangana government is giving high priority to the Rajiv Yuva Vikasam scheme in the upcoming budget. This scheme aims to help nearly five lakh young people by providing them with financial assistance to start their own businesses. Each selected person will receive Rs 3 lakh, Deputy Chief Minister Bhatti Vikramarka announced on Tuesday.
The self-employment scheme was one of the key promises made by the Congress party during the 2023 Assembly elections. It is specifically designed to benefit individuals from Backward Classes (BCs), Scheduled Castes (SCs), and Scheduled Tribes (STs). The financial support will be given through the community corporations set up for these groups.
The funds for this scheme will come from the SC and ST Sub-Plan and BC Welfare schemes. This ensures that unemployed youth from these communities receive financial aid to start their own businesses and secure a stable source of income.
Deputy Chief Minister Bhatti Vikramarka informed the media that the application process has been finalized. Applications will be accepted from March 15, and the last date to apply is April 5. After that, officials from the BC, SC, and ST corporations will review the applications starting April 6. The final list of selected beneficiaries will be prepared by May 31.
To mark a special occasion, the government will issue sanction letters to the selected applicants on June 2, which is also the State Formation Day. This initiative is expected to create many new job opportunities, especially in the services and small manufacturing industries.
The Rajiv Yuva Vikasam scheme is meant to help young people start their preferred professions and earn a sustainable livelihood. The financial aid will be given as part of a bank-linked subsidy scheme, ensuring that the beneficiaries receive proper support to succeed.
The Deputy Chief Minister also mentioned that the guidelines for implementing the scheme will be announced soon. He assured that all districts will be treated fairly in the selection process so that the benefits are distributed equally across the state.
