Rs 45 Cr subsidy component, aid released by FD

Srinagar : Mission Youth, Jammu and Kashmir, on Friday approved an outlay of Rs 238 Cr for self-employment cases under the customised livelihood schemes Mumkin and Tejaswini schemes with target to fund 1875 applications for multi-utility vehicles and 1000 women enterprises over next two months which include the cases approved by the District Level Task Force.
The Governing Body of Mission Youth headed by the Lieutenant Governor Sh Manoj Sinha has approved a number of youth empowerment initiatives under Mission Youth in the current financial year. Chief Secretary Dr Arun Kumar Mehta earlier reviewed the progress under Mission Youth and emphasised on saturation under various schemes. Principal Secretary, Finance Department, Santosh D Vaidya, in a meeting with Deputy Commissioners, emphasised on according top priority to Mission Youth initiatives and also approved the requirement of funds under various schemes, the cases under which stand approved by the DLTFs.
CEO Mission Youth Dr Shahid Iqbal Choudhary informed that the Government of Jammu and Kashmir continuing the focus on youth empowerment is endeavouring this year for record youth engagement, particularly under the schemes related to self-employment, coaching, education, fellowships, innovation, sports and skilling. Finance Department has released Rs 45 Cr for key schemes.
Giving details, Dr Shahid Choudhary shared that 1875 cases under Mumkin scheme with an outlay of Rs 188 Cr have been approved for which Rs 15 Cr subsidy component has been released by Finance department and Rs 15 Cr committed by the vehicle manufacturer partners while remaining amount is sponsored by the Jammu and Kashmir bank. Similarly, under Tejaswini schemes Rs 10 Cr budget has been released by the Finance Department and Rs 40 Cr committed by the J&K Bank.
Subsequent instalment of subsidy, manufacturer sponsorship and bank credit will be released based on demand and Mission Youth endeavours to cover more than 10,000 youth under these two schemes in the current financial year. Fund have also been provided by Avsar scheme for district level initiatives, coaching, skilling and scholarship. Mission Youth aims to provide self-employment incentives worth more than Rs 1000 Cr during the year.
Pertinently, Mission Youth received the Prime Minister’s Award for Excellence in Public Administration, India’s highest civil services award, in April 2023 for it’s performance during the year 2022-203.The other schemes which have been provided funds in approvals by the Finance Department include Spurring Entrepreneurship, Rise Together, Parvaz and Avsar.