Telangana Government Launches ‘Rajiv Yuva Vikasam’ Scheme to Boost Self-Employment

In a significant move to promote self-employment and economic development, Telangana Chief Minister A. Revanth Reddy launched the ‘Rajiv Yuva Vikasam’ Scheme on the premises of the Telangana Legislative Assembly. The scheme is designed to provide financial assistance to unemployed youth from Scheduled Castes (SC), Scheduled Tribes (ST), Backward Classes (BC), and Minority communities. With a substantial budget allocation of ₹6,000 crore, the government aims to create self-employment opportunities for five lakh youth across the state.

Objectives of the Rajiv Yuva Vikasam Scheme

The primary objective of the scheme is to empower unemployed youth by providing them with financial aid to establish their own businesses. This initiative also aligns with the government’s larger vision of economic growth and social upliftment, particularly for marginalized communities.

Key Goals:

• Provide self-employment loans to eligible youth.
• Reduce unemployment rates among SC, ST, BC, and Minority communities.
• Promote entrepreneurial spirit and economic self-sufficiency.
• Ensure equitable distribution of financial support across various sections of society.

Financial Assistance and Subsidy Structure

Under the Rajiv Yuva Vikasam Scheme, beneficiaries will receive financial assistance of up to ₹3 lakh for establishing self-employment units. The subsidy structure is designed to offer significant financial relief, ensuring that loans remain affordable and accessible.

Subsidy Breakdown:

• Loans up to ₹1 lakh – 80% subsidy provided by the government.
• Loans up to ₹2 lakh – 70% subsidy provided.
• Loans up to ₹3 lakh – 60% subsidy provided.

This tiered structure allows greater financial support for smaller loans, encouraging youth to take up small and medium-scale entrepreneurial ventures.

Application and Selection Process

The application process for the Rajiv Yuva Vikasam Scheme will commence next month. The scrutiny of applications will be conducted to ensure that only genuine and deserving candidates receive financial assistance.

Key Dates:

• Application scrutiny begins next month.
• Final selection of beneficiaries.
• Issuance of loan sanction documents on June 2nd, which coincides with Telangana Formation Day.

The structured timeline ensures efficient processing of applications and timely disbursal of funds.

Impact and Expected Outcomes

The scheme is expected to bring about a significant transformation in the employment landscape of Telangana by enabling young entrepreneurs to start their own businesses. The long-term benefits of the scheme include:

• Reduction in unemployment rates among underprivileged sections.
• Growth in small and medium enterprises (SMEs).
• Boost to state-wide economic development.
• Increased financial inclusion for marginalized communities.

The government’s commitment to youth empowerment is evident through its massive financial investment in the scheme, making it one of the largest self-employment initiatives in Telangana.

Summary of the News