Srinagar, Jul 18 (PTI) Jammu and Kashmir Mission Youth will soon be rolling out an online portal for end-to-end process of applications under the Tejaswini Scheme, which is aimed at empowering women socially and economically, an official spokesperson said.
The scheme, launched by Lieutenant Governor Manoj Sinha last month, is a start up funding programme for adolescents and young women of the UT to make them empowered and self-dependent through their own business ventures, the official said.
The broad aim of the scheme is to provide financial assistance to young women of 18 to 35 years of age for setting up gainful self-employment ventures, suited to their skills, training, aptitude and local conditions, he said.
The authorities have asked the women entrepreneurs to formalise their proposals, which will be approved by the District Level Implementation Committee.
A notification seeking applications will be issued in each district while online portal will also remain available for online applications and approvals, he said.
The spokesman said female entrepreneurs shall be facilitated to avail financial assistance under Mudra from J&K Bank to the extent of Rs 5 lakh.
Mission Youth, J&K, shall provide an amount of Rs 50,000 or 10 per cent of project cost as subsidy.
Besides, Mission Youth as special incentive shall also sponsor interest component of the loan and its repayment will be interest-free for young female entrepreneurs, the official said.
The scheme intends to provide assistance to all eligible young women who are domiciles of J&K and have a qualification of matriculation and above.
It will also cater to enterprises where women entrepreneurs hold not less than 50 per cent of financial holding besides providing assistance to set up women centric businesses and micro start-ups, the official said.
In view of low participation of women in various entrepreneurial and livelihood generation activities, Mission Youth has conceptualised this scheme for young women of the UT to uplift status of women in the society, he said.
Mission Youth has set a target to cover 2,000 women entrepreneurs under the scheme during the current financial year.
A budgetary component of Rs 12 crore has been earmarked by Mission Youth on account of government subsidy for the scheme.
The scheme has been specifically modelled to ensure that businesses set up by these young women turn into viable and flourishing enterprises.
Mission Youth has decentralised implementation of the scheme for ensuring convenience to prospective women entrepreneurs.
In this regard, a district-level committee constituted under the chairmanship of respective Deputy Commissioners shall implement the scheme and approve cases for assistance, the spokesperson said.
He said concerned AD/DD Employment of each district has also been designated as Nodal Officers at District level to facilitate women entrepreneurs under the scheme.
“The scheme will prove to be a significant step towards boosting employment scenario in J&K where unemployment rate is higher than the national average,' he said. PTI SSB MGA MGA