50K jobless youth to get Rs 1L each to set up own business

Kolkata: In a significant stride towards the generation of employment in the state, the Bengal government is all set to spend Rs 500 crore every year.

The new scheme would be implemented from April 1 this year under which around 50,000 unemployed youths from across the state can avail the benefit up to Rs 1 lakh every year. The state Finance department has already allotted a fund of Rs 500 crore for the current financial year for the smooth running of the project. It was learnt that the Bengal government will continue to run the scheme in future years as well to ensure that the youths who are still unemployed can start their new ventures.

The move is expected to create a new spur in the enrolment of rural youths and will also give a huge boost to the employment generation in the state. Prodded by Chief Minister Mamata Banerjee, the state Finance department has agreed to bear a minimum cost of Rs 500 crore every year to make the new scheme a sustainable one.

After receiving a 'go ahead' signal from the Chief Minister, the Finance department has taken up all necessary steps to officially start the project from the next month. Senior officials of the state Finance department believe that whoever will be given money to start his or her business will employ some more people, thereby contributing towards an indirect employment generation.

The youths who have obtained technical degrees from various institutions in the state including that of the ITIs can also apply.

The beneficiaries can start micro or small scale business units for which the Micro, Small and Medium Enterprises (MSME) and Textiles department will provide all sorts of assistance. The state government has already introduced an online application system where those interested would get a clearance from the MSME and Textiles department without a delay.

The people in the far off districts can address their queries from the local offices. It may be mentioned here that the MSME and Textiles department has already posted trained personnel in its district offices whose job was to help the youths to easily identify the opportunities. This is for the first time that the Bengal government has started such a training programme for the MSME entrepreneurs.

"This is completely a new initiative which will immensely help in the employment generation within the state. Those who are interested in starting a new business venture but are unable to do so due to want of fund can apply under this scheme," a senior government official said.