Is the revenue stream disrupted? Don’t worry, the government provides funding to start ventures
Since March 2020, problems around the world have been caused by the Kovid 19 epidemic. The epidemic affected the world’s economy. There was a lot of reflection in our country as well. There has been a major crisis in the employment and economic sectors in recent times. Many have lost their jobs and their sources of income. But the central and state governments are working hard to overcome this crisis.
Currently, the government has introduced a number of schemes for those who have lost their jobs due to the crisis and those who have no source of income. Many have lost their jobs abroad and at home since the lockdown was announced. The government’s scheme will benefit those who have it and want to start a new venture. The project is called the Multipurpose Job Club.
Under this scheme, financial assistance up to Rs. 10 lakhs and 25 per cent subsidy will be given to those who are eligible for any kind of venture. The main feature of this scheme is that it does not benefit only one person. Only enterprises started by two or more people on a partnership basis will benefit from this scheme.
Applications can be made to start ventures in all sectors such as trade, industry, service and farming. The loan is available through the Employment Exchange under the Department of Labor, Government of India. The maximum amount available under this scheme is `10 lakh. In addition, a 25 per cent subsidy will be available.
The maximum subsidy amount will be Rs 2 lakh. A group of two to five people will have one leader. The other four will be team members. All of them must sign a partnership agreement. The eligibility criteria for applying for this scheme is that only unemployed persons between the ages of 21 and 45 years enrolled in the Employment Exchange can apply.
For OBCs and backward classes like SC-ST, the age limit will be reduced from three to five years. In addition, the annual income of the family should not exceed one lakh. Priority will be given to those with higher education and those receiving unemployment benefits. In addition, we have to invest 10% in the project we intend to start.
The application form for this scheme can be obtained from the Employment Exchange. Those who want to create a new source of income and those who are unable to start it due to lack of cash on hand should try to make proper use of this scheme which is all beneficial.