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Odisha’s SWAYAM Scheme Offers Interest-Free Loans to Jobless Youths

Published on February 19, 2024
Current Context: The Swayam Scheme is an initiative launched by the Government of Odisha in 2024.The scheme aims to empower residents by offering financial support to ration cardholders and interest-free loans for youth.
Odisha’s SWAYAM Scheme Offers Interest-Free Loans to Jobless Youths
  • Here are some key features of the Swayam Scheme:
    • Financial Assistance for Ration Cardholders: The scheme provides Rs.1,000 livelihood assistance to 95.90 lakh PDS beneficiary families. This is aimed at supporting financially vulnerable individuals in the state.
    • Interest-Free Loans for Youth: 1 lakh eligible rural and urban youth (18-35 years) can apply for loans up to Rs.1 lakh. This encourages entrepreneurship and the establishment of small businesses.
    • Total Budget: The scheme allocates a total budget of Rs.1,237.74 crore to benefit Odisha residents.
    • The application process for the Swayam Scheme is online.
    • Eligible individuals need to navigate to the authorized website of the Swayam Scheme in Odisha, complete the application form, attach all the essential documents, and submit their registration.
    • The eligibility criteria include permanent residency in Odisha, possession of a valid ration card, and youth aged between 18 to 35 years are eligible for the loan scheme.

Question:

Q.1 What is the total budget allocated for the Swayam Scheme?
a. Rs.1,000 crore
b. Rs.1,237.74 crore
c. Rs.2,000 crore
d. Rs.3,000 crore
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