Hyderabad: The Telangana government has extended the deadline for filing applications to avail subsidised loans under the Rajiv Yuva Vikasam from April 5 to April 14.
Deputy chief minister Bhatti Vikramarka gave the directions to officials during a review with officials via video conferencing on March 31, Monday.
Under the scheme, educated youth from SC, ST, BC and minority communities will receive financial assistance to become self-employed with loans falling under four categories.
Under the first category, loans up to Rs 50,000 will be sanctioned on 100% subsidy, the second category covers loans up to Rs 1 lakh on 90% subsidy, the third category with loans up to Rs 2 lakh on 80% subsidy, and the fourth with loans up to Rs 4 lakh on 70% subsidy.
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.
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.
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