The Odisha Cabinet approved 'Swatantra Yuva Udyami (SWAYAM)' yojana, which is meant to provide interest-free loans to unemployed youths in the State.

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The Odisha Cabinet approved 'Swatantra Yuva Udyami (SWAYAM)' yojana, which is meant to provide interest-free loans to unemployed youths in the State. The state government, in its cabinet meeting, has decided to provide interest-free loans up to Rs 1 lakh to youth of the state under the new government scheme 'Swayam'. Chief Minister Naveen Patnaik has also decided to give more employment or more income to the rural youth and the urban youth by introducing one new scheme, 'SWAYAM' so that people who are maintaining small enterprises can avail liquid capital without any collateral security. Under the new government scheme to create self-employment for youth, 1 lakh eligible rural and an equal number of urban youth in the age group of 18-35 years will receive interest-free loans of up to Rs 1 lakh for starting a new business or expanding an existing one. The scheme will be operational for two years and Rs 672 crore will be spent from the state's coffers.


      The Odisha Cabinet, chaired by Chief Minister Naveen Patnaik, approved a total of 26 proposals.

      The state cabinet also approved the umbrella scheme Mukhyamantri Maschyajibi Kalyan Yojana (MMKY), which will be implemented during the 2023-24 fiscal year with a total budget outlay of nearly Rs 448 crore.

     

 

     


Odisha

Capital- Bhubaneswar
Chief minister- Naveen Patnaik
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