Rajasthan Government Launch Young Entrepreneurs Incentive Scheme for new entrepreneurs

Government of Rajasthan has recently announced a scheme for small and mid size entrepreneurs – “YUVA UDYAMITA PROTSAHAN YOJANA” or “Young Entrepreneurs Incentive Scheme” which encourage youth who have the entrepreneurial spirit. Youths with entrepreneurial ideas and desirous of setting up an enterprise in the State can participate in a competition and avail financial assistance on easy terms and minimum rate of interest.

Main Points of Young Entrepreneurs Incentive Scheme

• Financial assistance for projects costing between Rs. 25 lakhs to Rs. 1 Crore
• Loans upto Rs. 90 lakhs
• Minimum promoter’s contribution 10%

Selection Procedure for YUPY Scheme:

• Online application
• Candidates to participate in a competition. Shortlisting by an independent panel
• Selection based on viability and robustness of proposal

Awards and Financial Assistance in Young Entrepreneurs Incentive Scheme

• Awards and Financial Assistance for selected 5000 proposals will be awarded Rs. 5000 each in first phase.
• Additional Rs. 10000 as ‘hand-holding amount’ to selected candidates on submission of their detailed project report.
• 1000 DPRs will be selected for financial assistance on easy terms & conditions.

Repayment, Interest Rate and Margins in YUPY Scheme

• Repayment in 7 years
• Interest rate: 7.5% p.a. (subject to timely repayments)
• No Collateral Security

Additional Benefits

• Winners will be facilitated in getting land from RIICO and other benefits from Government Departments/Agencies.
• Guidance and assistance by Departmental Officers/Employees.
• Facilitation Centres at Divisions headquarter and also at Bhiwadi,New Delhiand Barmer for benefit of aspirants.

Eligibility for Young Entrepreneurs Incentive Scheme:

• Age limit: 35 years
• I.T.I. / Graduate
• Priority to first-generation entrepreneurs

NO LOAN APPLICATION FEE NO PROCESSING CHARGES

Additional Benefits of Young Entrepreneurs Incentive Scheme

• Winners will be facilitated in getting land from RIICO and other benefits from Government Departments/Agencies
• Guidance and Assistance by Departmental Officers/Employees
• Facilitation Centres at divisions headquater and also at Bhiwadi, New Delhi and Barmer for benefits to aspirants

For marketing Young Entrepreneurs Incentive Scheme to a large level and to every entrepreneur in Rajasthan, Rajasthan Financial Corporation and Department of Industries Rajasthan jontly organsing “Facilitation week” at Bikaner House, New Delhi from 13 to 19 May 2013.

Important Dates-

Launch of Young Entrepreneurs Incentive Scheme: 19 April 2013

Workshop at branch office/Facilitation centres: Starts from 22 April 2013

Online Application Dates: 1 May 2013 to 31 May 2013

For more details visit http://rfc.rajasthan.gov.in/YUPY/Scheme.pdf