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Tejaswini Scheme helps young JK women to set-up biz ventures: Govt

Tejaswini Scheme helps young JK women to set-up biz ventures: Govt
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Srinagar: The J&K Government on Monday said the Tejaswini Scheme was providing financial assistance to the young women of J&K for setting up gainful self-employment ventures, suited to their skills, training, aptitude and local conditions.
The government said it was facilitating soft finance for setting up new units and enterprises or for expansion/modernization of existing units to empower and encourage women for income generation for activities either in manufacturing, service, trading and small business.
Pertinently, the scheme launched by J&K Lieutenant Governor (LG) Manoj Sinha in June 2021 is a start up funding programme for adolescents and young women of the UT making them empowered and self dependent through their own business ventures.
“The broad aim of the scheme is to provide financial assistance to the young women of 18 to 35 years of age for setting up gainful self-employment ventures, suited to their skills, training, aptitude and local conditions,” the government spokesman said.
Under the scheme, female entrepreneurs shall be facilitated to avail financial assistance under Mudra from J&K Bank to the extent of Rs 5 lakh.
Mission Youth, J&K shall provide an amount of Rs 50,000 or 10 percent of project cost as subsidy. Besides, the interest component of the loan shall also be sponsored by Mission Youth as a special incentive and repayment of loan will technically be interest free for the young female entrepreneurs who apply for assistance under the scheme.
As per the official handout, the scheme intends to provide assistance to all eligible young women who are domiciles of J&K and have a qualification of matriculation and above.
“It will also cater to enterprises where women entrepreneurs hold not less than 50 percent of financial holding, besides providing assistance to set up women centric businesses and micro start-ups,” it said.
It reads that Mission Youth has set a target to cover 2000 women entrepreneurs under the scheme during the current financial year.
“A budgetary component of Rs. 12 crore has been earmarked by Mission Youth on account of government subsidy for the scheme for the current financial year. The scheme has the distinction of being the first of its kind under which repayment of financial assistance will be interest free,” the government handout reads, adding that it has been specifically modelled to ensure that businesses set up by these young women turn into viable and flourishing enterprises.
The scheme is proving a significant step towards boosting the employment scenario in J&K where unemployment rate is higher than the national average.
The women entrepreneurs do not have to visit any office for the purpose and the Mission Youth has come out with an online portal for end to end process of applications.


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