Entrepreneurship scheme Samruddhi launched
- The Social Welfare Department formally launched Samruddhi, a Rs. 800-crore entrepreneurship and skill development scheme, for economically and socially underprivileged youth of small towns.
- It aims to train youth from SC and ST communities through private organisations in retail management and franchise opportunities.
- The government will later certify and finance eligible trainees with seed grants of up to Rs. 10 lakh each to set up franchises or retail outlets in a variety of service areas.
- Initially, the State-owned Karnataka Milk Federation and 30 private entities from different service sectors are being empanelled
- Candidates can apply from November 7 to 30.
- The applicants will be scanned on the basis of their qualifications.
- The minimum age limit is 21 and one must have an SSLC (10th standard) certificate.
- They will be given a period of two months to show that they have the land or space for it, or have access to the same.
- They are then eligible to receive the grant to start their own retail outlet. This is a move away from traditional business loans as we saw a potential for misuse in the loans.
- These seed grants are secure and will directly reach the intended beneficiaries
- With this initiative, the government aims to create jobs in rural and semi-urban areas such as Mysuru, Chamaraja Nagar, Kodugu, BR Hills, and others.
- This, in turn, is expected to ensure the sustainable and all-round development of young citizens in these areas.
- The government will also invest in training through ITIs, vocational training, and other institutions.
- This will provide them with employment opportunities across sectors and help them apply for the grant.
- The government is investing Rs 800 crore, which is eight percent of the department’s budget, through this scheme.
- The Samruddhi scheme is on the lines of the Unnati and Airavata initiatives.
- These target socially marginalised communities and provide them with skill development and alternate means of employment.
- The Unnati scheme has technology skill training at its core, targeting social innovation.
- With the Samruddhi scheme, the government hopes to train youth across sectors and convert them into entrepreneurs.
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