India News | AAP to Launch Mukhyamantri Swavlamban Rozgar Yojana to Empower Small Scale Industries, Shopkeepers

New Delhi, Dec 19 (PTI) Ahead of the upcoming Delhi Assembly elections, the AAP government on Thursday announced plans to launch the 'Mukhyamantri Swavlamban Rozgar Yojna', aimed at empowering small-scale industries and shopkeepers.

Under this initiative, the small-scale industries and shopkeepers will have easy access to low-interest loans of up to Rs 10 lakh, an official statement said.

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The Delhi government will provide a 10 per cent subsidy to general applicants, 15 per cent to women and ex-servicemen, and 20 per cent to physically handicapped individuals and widows, it added.

The scheme is designed to offer crucial financial assistance to individual entrepreneurs, trade professionals, artisans and disadvantaged groups, including those with disabilities and widows.

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Industries Minister Saurabh Bharadwaj explained the scheme's goal is to strengthen small businesses and individuals by providing essential financial support, helping them expand their operations and generate employment opportunities.

“This initiative highlights the Delhi government's commitment to fostering economic growth and creating job opportunities at the grassroots level. The 'Mukhyamantri Swavlamban Rozgar Yojana' will empower small-scale industries and shopkeepers, making them self-reliant and contributing to the overall development of Delhi,” he said.

The scheme aims to overcome the limitations of the previous 'Swavlamban Rozgar Yojana', which only financed 18 units annually over the past eight years.

By adopting a more inclusive approach, the new scheme intends to support a broader range of beneficiaries, particularly the school and college dropouts above the age of 18.

The scheme offers benefits to a wide range of individuals, including the school and college dropouts (aged 18 and above), individual entrepreneurs, trade professionals, artisans, physically handicapped individuals and widows.

Financial aid under this scheme will be provided as loans for projects across various sectors, including secondary industries like cottage industries, tertiary sectors such as trade, transportation, hostels and restaurants, and service sectors identified by the Delhi Khadi & Village Industries Board (KVIC).

All projects must comply with local regulations and the Delhi Master Plan.

The loan amount for eligible projects is capped at Rs 10 lakh. However, applicants with outstanding or misused loans from the government or government-controlled institutions will not be eligible for this scheme.

The additional features of the scheme include loan amounts of up to Rs 10 lakh, with interest rates set at 6 per cent for loans up to Rs 5 lakh, and 7 per cent for loans between Rs 5 lakh and Rs 10 lakh.

The applicants must be between the ages of 18 and 55. The loans will require security and hypothecation, facilitated through banks, with the Delhi Khadi and Village Industries Commission (KVIC) serving as the nodal agency.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)