Assam CM distributes over Rs 278 crore to 82,219 young entrepreneurs

Assam Chief Minister Himanta Biswa Sarma on September 17 distributed financial assistance worth more than Rs 278 crore to young entrepreneurs under the Chief Minister’s Atmanirbhar Asom Abhijan (CMAAA) 1.0 and 2.0, reiterating the government’s focus on entrepreneurship and self-reliance among the youth.

Speaking at the financial assistance distribution ceremony at Jyoti-Bishnu Antarjatik Kala Mandir, Khanapara, Sarma said the objective of the initiative was not merely to provide financial assistance but to encourage young people to become self-reliant and successful entrepreneurs.

Under the scheme, entrepreneurs in the General Category receive Rs 2 lakh per entrepreneur, comprising 50 per cent grant and 50 per cent interest-free loan. Those under the Professional Category receive Rs 5 lakh, again structured as 50 per cent grant and 50 per cent interest-free loan.

A total of 82,219 entrepreneurs are covered under CMAAA 1.0 and 2.0. This includes 9,552 general-category and 26 professional-category entrepreneurs under CMAAA 1.0, while CMAAA 2.0 covers 72,447 general-category and 194 professional-category entrepreneurs.

According to the programme details, more than Rs 196 crore is being distributed under CMAAA 1.0, while the allocation under CMAAA 2.0 stands at more than Rs 182 crore.

Sarma said the government had earlier provided Rs 75,000 in the initial phase and Rs 25,000 in a subsequent phase to young beneficiaries for entrepreneurship. However, he said some beneficiaries could not qualify for the subsequent assistance after failing to meet the eligibility requirements.

Of around 13,000 beneficiaries, approximately 9,552 succeeded in meeting the requirements, while around 4,000 could not qualify. The Chief Minister said this represented roughly 80 per cent successful completion and 20 per cent unsuccessful, adding that some beneficiaries had also taken up jobs and therefore could not continue with their businesses.

The Chief Minister said the government was bringing together beneficiaries who received the earlier Rs 25,000 assistance and those receiving the Rs 1 lakh assistance with the objective of encouraging them to pursue entrepreneurship seriously.

He said the initiative was also intended to motivate the beneficiaries receiving the smaller assistance to work towards becoming eligible for Rs 1 lakh in the next phase, which he said could take place within the next nine to 10 months.

The programme also includes skill development training and marketing support for entrepreneurs, alongside financial assistance, as part of the government's broader effort to promote youth entrepreneurship in Assam.

The ceremony was attended by Assam Industries, Commerce and Public Enterprises Minister Bimal Borah, along with officials and participating entrepreneurs.