Dr. Parveen Kumar
Youths are an asset for a country provided there energy is channelized in a positive direction and gets consumed in an appropriate way. India has now surpassed China in being the most populous country in the world. But unlike China which is known to be ageing country, India has a demographic dividend in terms of the numbers of youth in the total population of the country. Youth (15-29 years) make up about 27.3% of the total population. Broadly speaking about 65% of the population is under 35. This large youth population plays a major role in the progress and development of country. At the same time there is also a huge challenge of addressing various issues of this young population. Education, healthcare, skill development employment opportunities are some of the major issues that need to be addressed immediately and effectively. We can also use the acronym NEET i. e not in employment, education or training for youths of the country. As such there is an immediate and urgent need to invest in the skill development of these youth accompanied by creation of employment opportunities for them where they can use their skills or sent up their own enterprises to create employment opportunities for others also. Unfortunately the employment opportunities in the government sector are limited and a few in numbers. The government of India has thus come up with various skill and entrepreneurship development programmes for youths where after raining they are also given financial support and proper handholding thereafter so as to enable them to run and sustain their business. A large number of youths have taken advantage of this policy support and entrepreneurial ecosystem in the country and became successful entrepreneurs. A successful entrepreneur means a job provider not a job seeker who has contributed towards development of the country by creation of productive assets as well as creating employment opportunities for others also. The Startup culture in the country has already made inroads among the youths and brought about visible changes in the country. Youths are now coming forward to upgrade their skills and take advantage of the various entrepreneurship opportunities available in different sectors offered by various ministries, institutions and agencies in the country. Primeminister Employment Generation Programme (PMEGP), Primeminister Gramin Rozgar Yojana (PMGRY), Micro-units Development Refinance Agency (MUDRA) Agribusiness Incubators (ABI) are some of the examples.
The Union Territory of Jammu and Kashmir too has been making rapid strides in providing an entrepreneurial ecosystem to the youth of the region through various initiatives. One such initiative aimed at fostering entrepreneurship spirit and helps them avail benefits of various self employment opportunities in the mission YUVA (i. e Yuva Udyamita Vikas Abhiyan). YUVA is a flagship initiative of the UT of Jammu and Kashmir to transform the UT into a thriving hub for entrepreneurship and employment. It aims to empower local youth through financial assistance, training and guidance to promote entrepreneurship and self employment. Mission YUVA tackles this by creating a supportive ecosystem where businesses can start, grow and succeed. Under the mission financial assistance is provided in the form of loans and subsidies. The scheme has specific components such as supporting the transport sector with help for purchasing commercial vehicles. Mission encourages innovation through initiatives like Neo-Innovative Enterprises Component which provides rupees 50 lakh in funding. Under YUVA Small Business Development Units (SBDU) are being established a district level for structured enterprise support to the aspiring entrepreneurs. Similarly Business Help Desks (BHDs) have been created to provide documentation support, financial guidance and market linkages. Jammu and Kashmir Bank has specially devised an app on which registration can be done in a hassle free manner and focuses on various aspects, including creating nano-entrepreneurs, supporting new and existing MSMEs, and encouraging innovative startups. The Bank has also launched a campaign called ‘YUVA Udaan’ to facilitate the scheme’s implementation. Under mission YUVA J&K Bank’s 3 schemes include:
NANO: It is open to first time entrepreneurs with no requirement of prior formal credit history Age limit. Under the scheme, financial assistance up to 10 lakh for establishment of enterprises in Manufacturing, Trade and Services & Farm based enterprises. It also includes businesses such as street vending, tailoring and grocery stores. The Margin money is 10% with a subsidy ranging from 25-30%. An initial moratorium of 06 months is also given under this scheme.
AGHAZ: This scheme involves creation of New Micro Small and Medium Enterprises (MSMEs) under Focus & Sunrise Sectors. In agriculture, the sunrise sectors include Horticulture (Apple, Almond and Walnut), Saffron, Basmati, Rajmash Dairy and livestock while the sunrise sectors include Medicinal and Aromatic plants, Aquaculture, Floriculture, Apiculture and Polyhouses. In Industry the focus sectors include Agro-processing, Handicrafts, Handloom, Textiles, Sports equipment while the sunrise sectors are Hydropower, Pharmaceuticals, Metals and Mining, Paper and Paper products. In services the focus sectors are related to cultural tourism, religious tourism, logistics and transport and Healthcare while the sunrise sectors include adventure Ecotourism, Information Technology (IT) and IT enables Services. The Financial Assistance under MSME-Aghaz ranges from 10 lakh to 125 crore which comprises of a bank finance of 80% of Project cost and margin money of 20% of Project cost. There is also a moratorium of 06 months.
YUVA-PARVAAZ:
The scheme is applicable to Micro & Small Enterprises in J&K, which have been existing for at least five years. It is infact of Business Acceleration of Existing Enterprises. The list of activities to be considered under the scheme include-local manufacturing units, small scale food processing units, repair services, handicrafts such as leather, jewellery and candle making unit, boutique retail shops. The quantum of assistance ranges from 10 lakh to 125 crore with bank finance of up to 80% of Project cost and Margin Money of 20% of Project cost with a moratorium of 06 months.
Besides early stage Startups and Knowledge Based Enterprises in technology, IT, Research and Development and innovation driven fields are also supported under YUVA. These are eligible for funding through rupees 250 crore Venture Capital fund set up with 40% government contribution and 60% private sector investment.
To promote various schemes under YUVA, awareness campaigns at grassroots as well as district level are being organized with active involvement of all the stakeholders. Jammu and Kashmir government aims to create 1.37 lakh enterprises which will create employment avenues for 4.25 lakh youths in the next five years. Mission YUVA which is built upon skill development, entrepreneurship and employability has a major role in establishing the required no. of enterprises and employment opportunities within the stipulated time.
*The author writes on agriculture and social issues; can be reached at [email protected]
