Swami Vivekananda Assam Youth Empowerment (SWAYEM) Scheme

To encourage and provide assistance to the youth in the state to take up new ventures or boost the existing venture

On February 7, 2017, the Finance Minister of Assam announced Swami Vivekananda Assam Youth Empowerment (SWAYEM) scheme. The main aim of the scheme is to encourage and provide assistance to the youths of the state to take up new self-employment options or income generating activities. Due to some issues the scheme could not benefit all the targeted beneficiaries. Assam government has now relaunched the scheme. On September 4, 2020, Finance Minister Mr. Himanta Biswa Sarma, relaunched SWAYEM. A total of Rs. 1000 crore is sanctioned for the implementation of the redesigned scheme.

Scheme Overview:

Scheme name:Swami Vivekananda Assam Youth Empowerment (SWAYEM) scheme
Launched under:Assam Government
Launched On:February 7, 2017
Relaunched on:September 4, 2020
Beneficiaries:Around 2 lakh youths of Assam
Age:Below 40 years
Benefit:Financial assistance of Rs. 50,000/- as chit capital
Main Objective:To encourage and provide assistance to the youth in the state to take up new ventures or boost the existing venture
Revised scheme budget:Rs. 1000 crore

Objectives and Benefits:

  • The main objective of the scheme is to encourage youth to take up new ventures, thereby promoting self-employment
  • It aims at creating employment and income generating opportunities in both rural and urban areas
  • It aims to provide financial assistance to the micro and small businesses
  • It will reduce the rural as well as urban unemployment in the state
  • The scheme will boost the state’s economy in the long run

Activities covered under the scheme:

  • Manufacturing
  • Processing
  • Service sector
  • Trading
  • Rural transport like Auto rickshaw, e-rickshaw
  • Tourism
  • Shops, repairing centres
  • Handicrafts
  • Cottage industries

Eligibility:

  • Applicant should be a permanent resident of Assam
  • Age of the applicant should be below 40 years
  • Should be a member of self-help groups/ joint liability groups
  • He/she should not be defaulter of any loan.
  • It is mandatory to have educational qualification at least 10th class along with relevant experience and skill in income generating activities

Financial Assistance:

  • 50,000 will be provided to each beneficiary by the state, without any banking linkage
  • The amount will be provided as chit/ seed capital for the business venture
  • There will be no processing charges

Documents Required:

  • Identity and Age proof
  • Address proof
  • Education proof
  • Experience proof
  • Business license or registration proof
  • Photo
  • Mobile no. and Email id

Application process:

  • Applicants can apply via offline and online process.
  • For registering and applying online, a new dedicated portal is to be launched on September 16, 2020. Detailed process will be declared thereby.
  • For applying offline, the applicant can go to the district office, fill the application form and submit. After verification the amount will be sanctioned accordingly.

Key Points:

  • SWAYEM scheme was first launched in the year 2017 and is now relaunched in the year 2020
  • It aims at providing self employment opportunities to the targeted youth of 2 lakhs in the state
  • Total scheme outlay is Rs. 1000 crore and the benefit provided to individual beneficiaries is Rs. 50,000.
  • The 1000 crore budget will be only from the government revenue, without any banking linkage
  • A new dedicated portal will be launched on September 16, 2020, to ease the registration and application process
  • It is the biggest self-employment programme launched by any government in Assam since independence.

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