Assam government opens registration for Chief Minister's Atmanirbhar Asom Scheme

Submission of registration process for the Assam government's new self-employment scheme - 'Mukhyamantri Atmanirbhar Asom Abhijan' today formally began. The submission process for the scheme was formally opened today during a function at Dispur which was attended by Chief Minister Himanta Biswa Sarma. 

The scheme will provide financial assistance with the aim of fostering entrepreneurship, promoting self-sufficiency and self-employment.

Addressing the event, the Assam Chief Minister said that a sum of two lakh rupees would be given to two lakh youths under the scheme in two installments directly to their bank accounts. Among the two installments, one installment of one lakh rupees is being treated as subsidy and the beneficiaries of the scheme dont have to repay that said amount to the government. 

"Through this scheme, we want to bring forward 2 lakh entrepreneurs in the state in a span of two years, and hence we are starting the registration process. We want to financialy help two lakh youths and prepare them for the entrepreneurial field. The selected persons will be given Rs 2 lakhs in two installments by the government. They shall first recieve one lakh rupees directly through the bank's DBT. And then based on the progress of the scheme, we shall debit another one lakh rupees in their accounts. In total, we will give Rs 4000 crores to 2 lakh budding entrepreneurs," said CM Sarma at the function. 

The CM further said that the remaining installment of one lakh rupees, would be repaid to the government after a period of five years of business, for another period of five years which would be treated as a repayment period, without any interest. So the one lakh rupees loan would be repaid to the government over a span of ten years without any interest. 

The scheme is divided into two categories based on the educational qualifications of the applicants.

The first category includes unemployed degree holders in fields such as engineering, MBBS, BDS, agriculture, animal husbandry, and fishery. These individuals will receive government assistance of Rs 5 lakh, half of which will be a subsidy, and the remaining amount will need to be repaid without interest. 

The second category comprises unemployed postgraduates, general graduates, ITI, and Polytechnic pass-outs. They will receive government assistance of Rs 2 lakh, with Rs 1 lakh being a subsidy and the remaining amount repayable without interest. 

However, students from Scheduled Tribes (ST), Scheduled Castes (SC), and Other Backward Classes (OBC) who have a minimum qualification of Class 10 are eligible for the first category assistance.

The age criteria for all applicants is set at 28 years, with the upper limit being 40 years for the general category and 43 for ST, SC, and OBC applicants.

CM Sarma further said that the aim of this scheme is to ensure that the beneficiaries should succeed in their ventures and hence the the first installment of loans would not reflect on the beneficiaries' respective CIBIL scores. 

"Our aim is that the enterpreneur sohuld be successful and they should be eligible to take more loans from the banks. Hence the first two lakh rupees would be given directly to their bank accounts and not through banks, so that their names are not registered in their CIBIL score as having taken any loan. As a result of this, when they withdraw money from that sum from the bank, they will become credit worthy. So they will be eligible to take loans under the MUDRA scheme and others," said the Assam CM.

It was also announced by the Chief Minister that the second installment of the loan would be given only after reviewing the status of the business. In case, the report of the business is not satisfactory, then the said amount in the second installment would be given over to another beneficiary.

According to the administration, the scheme is part of the Bharatiya Janata Party's promise in 2021 to provide 100,000 jobs to unemployed youths in Assam. Earlier this year, during Home Minister Amit Shah’s visit to Assam, the government distributed appointment letters to 44,703 newly recruited candidates from various government departments.

CM Sarma had earlier stated that his administration has created over 88,000 jobs in the last two and half years for people in the state.