Swayam Scheme Odisha Government 2024: The Government of Odisha has launched a new scheme for self-employed youth, known as “Swayam” on February 2024. The objective of this scheme is to empower the financial condition of the youth and encourage them to set up their new business.
The initiative also aims to reduce the unemployment rate of the Odisha state. Through this scheme, the youth gets interest-free bank loans for financial assistance up to Rs. 1 Lakh. The objective, key features, eligibility, commencement, and duration of the Swayam Scheme Odisha Government have been shared below.
Swayam Scheme Odisha Government 2024 Overview
| Department | Government of Odisha |
| Scheme Name | Swayam (Swatantra Yuva Udyami) |
| Advt. Date | February 15, 2024 |
| Category | Swayam Scheme Odisha 2024 |
| Loan Amount | Rs. 1 Lakh |
| Interest Rate | Free (0%) |
| Apply Mode | Online |
| Official Website | swayam.odisha.gov.in |
Objective
The Swayam scheme focuses on financial assistance to youth in the age group of 18 to 35 years. Through this scheme, all rural unemployed youth set up their business or micro-enterprises through access to credit through banks with interested subsidies.
Swayam Scheme Odisha 2024 Key Feature
The unemployed youth who want to expand their existing business can get interest-free bank loans for project costs up to Rs. 1 Lakh. The age group of 18 to 35 years is eligible for the Swayam Scheme Odisha Government.
Commencement and Duration
The scheme has already commenced from the date of notification published by the State Government and will be operated for the next 2 years. It may be extended further as per the decision of the Odisha Government.
Swayam Scheme Odisha Government Eligibility
Taking benefit under this scheme applicants must meet the eligibility criteria mentioned below.
- Applicants must be in the age group of 18 to 35 years. For applicants belonging to Scheduled Caste (SC)/ Scheduled Tribe (ST)/ Person with Disability (PwD) categories, the upper age limit will be 40 years.
- Applicant’s family is covered under the KALIA/ BSKY Scheme or has an income of less than Rs. 2 Lakh per annum.
- The applicant must have a UDYAM registered/ UDYAM assisted number.
Project Cost
The project cost will be Rs 1 Lakh with 5% margin money to be paid by the borrower. Thus, the loan amount of Rs. 95000 will be an interest fee through interest subvention.
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Processing Fee
There will be no processing fees and service charges for Odisha Swayam Scheme 2024 by the bank.
Odisha Swayam Scheme 2024 Benefits
- Financial Aid
- Interest Free Loan
- Expansion Loan
How to Apply for the Swayam Scheme in Odisha?
Here is the step-by-step process to apply for the Swayam Yojana Odisha.
- Step 1: Visit the official website of the Swayam Scheme at swayam.odisha.gov.in.
- Step 2: Register on the website and select the “Urban” and “Rural” options.
- Step 3: Fill out the required details.
- Step 4: Upload the Aadhar Card number, Ration Card Number, and PAN Card number.
- Step 5: Click on “Submit” to complete the application process.
Swayam Yojana Odisha Apply Online 2024 Link
| Apply Online | Click Here |
| Official Notification | Click Here |
| Official Website | Click Here |
| More Govt Jobs | Click Here |
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Frequently Asked Questions (FAQs)
What is the Swayam Scheme in Odisha?
The objective of the Swayam Scheme is to empower the financial condition of the youth and encourage them to set up their new startups.
What is the Swayam Scheme’s full form?
Swatantra Yuva Udyami
Which state government launched the Swayam scheme to empower its youth with interest-free loans?
Odisha Government has launched the Swayam scheme to empower its youth with interest-free loans.
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