Boon to BC entrepreneurs: Government enhances subsidy to 90 per cent

Visakhapatnam: With a view to help jobless youth among the Backward Classes and to make them as entrepreneurs and self-employed, the State government, for the first time in the country issued orders increasing the subsidy amount to a maximum of 90 per cent of the total unit cost. The TDP government after coming into power in 2014 announced loan assistance to the BC youth with 70 per cent subsidy, 20 per cent loan and 10 per cent as beneficiary share. However, as there is no response from the BC youth on the scheme, the TDP government now announced 90 per cent subsidy and 10 percent beneficiary share on the total unit cost.

According to a press release issued here on Saturday by M Geethadevi, Executive Director of BC Welfare Cooperative Society Limited, the society will offer the new scheme under the State government’s prestigious Aadarana-2 programme. With the hassle free facility which has no linkage with banks, the beneficiaries can approach the BC Welfare Department with their new proposals to obtain the revised Aadarana-2 benefits. The government would provide 90 per cent against the total cost of the proposed unit and the beneficiary has to bear only 10 per cent. The government also announced that the beneficiaries who had already utilised the scheme in the present fiscal (2018-19) are eligible to get the latest benefits in the next fiscal (2019-20).

During a recent meeting held in Amaravati, the District Collectors informed to the government that the youth from BC communities are not coming forward to utilise the scheme with 70 per cent subsidy, 20 per cent loan and 10 per cent beneficiary share to establish the self-employment units. With this, the government cancelled the 20 per cent loan and issued orders with 90 per cent subsidy to the BC youth. The aspirants who had already applied in the old scheme, are also eligible to the new scheme, the release says