Hyderabad: Minority youth are encouraged by the community leaders to take advantage of the Rajiv Yuva Vikasam Scheme, which offers financial assistance of up to Rs. 4 lakh for starting businesses.
The Telangana government has allocated Rs. 840 crore for minorities under the scheme, with Rs. 751 crore earmarked for Muslim applicants based on population estimates. Around 42,000 minority youth across Telangana are expected to benefit.
Despite the scheme’s launch, the response from minority applicants has been slow. According to the Minority Finance Corporation, only 12,000 applications have been submitted so far.
With the online application deadline set for April 5, officials stress the need for greater awareness and participation.
The selection process is overseen by district collectors, with final approval based on recommendations from the district-in-charge minister.
Applications invited from SC, ST, BC youth for Telangana self-employment scheme
The scheme provides subsidy-based financial assistance across four categories:
• Rs.50,000 assistance – 100% subsidy
• Rs.1 lakh assistance – 90% subsidy, 10% bank loan
• Rs.2 lakh assistance – 80% subsidy
• Rs.4 lakh assistance – 70% subsidy
Eligibility criteria
Applicants must meet income eligibility criteria: Rs 1.5 lakh per annum in rural areas and Rs 2 lakh in urban areas.
The age limit is 21 to 55 years for urban applicants and 21 to 60 years for rural applicants. The financial aid will be disbursed only after fulfilling all requirements for setting up a business.
To simplify the application process, the government has removed the ration card requirement and now allows income certificates of up to Rs 1 lakh.
However, the slow rate of applications, particularly from Hyderabad and other districts, is a concern.
Officials stress that a higher number of applications will prompt the government to consider additional approvals.
