The Gujarat Government has introduced a new scheme for the employees of the cottage industry. This scheme offers financial support to the craftsmen of the cottage industry. Gujarat has started this scheme in the memory of our revered former Prime minister Late Shri Atal Bihari Vajpayee. This scheme is known as “Shri Vajpayee Bankable Yojana 2020”. This scheme focuses on equipping the unemployed youth of the states, aiming to promote entrepreneurship skills and help them become financially self-sufficient with their projects.
This plan aims to provide money to cottage industry artisans. They can receive funds through nationalized banks, cooperative banks, public sector banks, or private banks. The purpose of this programme is to give unemployed people in rural and urban areas access to self-employment. Blind and disabled people are also eligible to get assistance under this programme.
Targets of the Vajpayee Bankable Yojana:
- Eliminate the problem of unemployment in the state.
- Empower the youth of the state with entrepreneurship skills.
- Encourage the youth to become self-reliant and financially independent.
- Provide financial assistance to those persons, disabled due to an accident or by birth.
The loan limit :
- Industrial sector loan amount – INR 8 Lakhs.
- Service sector the loan amount is – INR. 8 Lakhs.
- Trade sector the loan amount is – INR 8 Lakhs.
Maximum Limit of Subsidy:
|LIMIT OF SUBSIDY AMOUNT
|From ₹.60,000/- to ₹.80,000/-
In business, the limit for subsidy amounts is different in general and reserve categories. For the general category, the limit for subsidy amount will be 75,000 and 60,000 for rural and urban areas respectively. For the reserve category, the limit will be 80,000.
Note: The maximum limit of subsidy per beneficiary in any sector will be ₹.1,25,000/- for blind or handicapped persons.
What are the Eligibility Criteria for Vajpayee Bankable Yojana?
- The applicant’s age limit must be between 18-65 years of age.
- Standard 4th pass is the minimum education qualification.
- The applicant should have completed training for at least three months from a private establishment or at least one month from any government-approved Institute.
- The field of the proposed company must be an ancestral craftsman or should have experience of a minimum 1 year in the same field.
- There are no criteria in terms of family income.
What are the Documents Required for Vajpayee Bankable Yojana?
- Aadhar Card
- Ration Card
- Photograph of the applicant
- Birth certificate of the applicant
- Project Report/Business Plan
- Caste Certificate (if applicable)
- Educational Certificate (4th standard Qualified)
- Proof of training course.
In the above list, a Business plan also known as a project report is a crucial document when applying for a bank loan. The bank uses this document to analyze the overall feasibility, risks, financial viability, and potential of a project. A well-crafted and convincing project report increases the chances of loan approval. With Finline you can craft a compelling project report in less than 10 minutes. That too in your language. Also, our reports are accepted by all public and private sector banks working in India. Click to create your project report.
Where to apply for Vajpayee Bankable Yojana?
Visit the following link to download the application form for the Shri Vajpayee Bankable Scheme