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New credit-linked scheme for unemployed youth: Govt

Excelsior Correspondent

JAMMU, Jan 19: Minister for Finance, Labour and Employment & Culture, Dr Haseeb Drabu today said in terms of Budget announcement 2017-18, all the State sponsored self-employment schemes will be subsumed into a better incentivized single credit linked scheme to address the problem of unemployment.
He said all the beneficiaries of the said scheme shall have to mandatorily undergo a comprehensive entrepreneurship development programme through RSETIS and JKEDI.
The Minister was replying to a Calling Attention Notice by Rani Gargi Blowria in Legislative Council today.
The Minister said regarding non-release of interest subsidy of loan, an amount of Rs 52.84 crore was worked out as liability on account of interest subsidy to be paid in respect of the cases covered under State Self Employment Scheme (SES). All such cases covered under this scheme during the year 2013-114 and 2014-15 were entitled to the interest subsidy for a period of two years as also the cases covered earlier under the scheme where the amount of subsidy had not been credited due to paucity of funds.
The Self Employment Scheme was a District Sector scheme and bifurcation of the funds earmarked in a particular year under the two components, viz margin money and interest subsidy was made by the District Development Board concerned.
Dr Drabu said pursuant to the Budget announcements for the year 2015-16, the SES being implemented by the Director Employment got subsumed with the Seed Capital Fund Scheme, implemented by JKEDI.

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