Vajpayee Bankable yojana, The scheme is launched by the Gujarat government in the year 2020. The scheme is for cottage industry workers to providing them financial help to craftsmen of the cottage industry. The scheme is started in memory of our late prime minister Shri Atal Bihari Vajpayee. Rapid growth in the population is causing many problems in the development of the country. So, the government of Gujarat implemented this scheme for providing benefits to urban and rural people of the state.
The Vajpayee Bankable yojana is providing the loan to cottage industries workers. The banks which will provide loans are nationalized, private, public sector, and cooperative banks. The cottage industry is a small-scale industry in which people do their work in their own homes and use their own equipment. Especially in villages, people earn their livelihood by this means of doing work in a cottage industry. The cottage industry includes textile, clothing industry, food production, rope production, candle production, etc.
FEATURES OF THE SCHEME– VAJPAYEE BANKABLE YOJANA
- The scheme provides self-employment to rural people of the state of Gujarat.
- It also covers blind and disabled people.
- The scheme provides financial help in form of loans to rural as well as to urban people.
- The scheme also promotes self-empowerment of the weaker section of the society.
- The scheme also decreases unemployment in the state.
- The scheme helps to increase the GDP rate of the state.
- Financial help is also provided to disabled people by birth or due to accidents.
- The development of skills is included in the scheme.
- The financial help of rupees 2,500 will be provided.
- Under this scheme, women will also be getting employment opportunities.
The maximum loan provided under this scheme is for the industrial sector approx amount is of 8 lakhs, for the service sector and trade sector also 8 lakhs of rupees.
SUBSIDY PROVIDED UNDER THE SCHEME– VAJPAYEE BANKABLE YOJANA
- FOR RURAL AREAS
- GENERAL CATEGORY– 25% of subsidy will be provided on the loan amount.
- SCHEDULED CASTE/ TRIBE/ WOMEN/EX-SERVICEMEN/ BLIND OR HANDICAPPED HAVING 40% OF DISABILITY OR MORE – The subsidy provided will be 40% on the loan amount.
- FOR URBAN AREAS
- GENERAL CATEGORY– 20% of the subsidy will be provided on the loan amount.
- SCHEDULED CASTE/ TRIBE/ WOMEN/ EX-SERVICEMEN/ BLIND AND HANDICAPPED PEOPLE HAVING 40% OF DISABILITY OR MORE– The subsidy amount is 30% for all these categories of people.
ELIGIBILITY CRITERIA FOR THE SCHEME– VAJPAYEE BANKABLE YOJANA
- The applicant of the scheme should be from a minority section of society.
- The age of the applicant should be between 18 to 65 years of age.
- The annual income of the parent of the applicant should not be more than rupees 2,00,000 in urban areas and rupees 1,50,000 in rural areas.
- The applicant should have an Aadhaar and Ration card.
- The educational qualification of the applicant should be at least the 4th standard passed.
- The training experience of the applicant should be at least 3 months from a private organization that should be relevant to the profession, government institution, family business, etc.
PROCEDURE FOR APPLYING FOR ONLINE APPLICATION
- Go to the official website of the government scheme.
- Then open the application form to be filled.
- Enter the details in a correct and accurate manner.
- Then, upload the documents required.
- Then, submit the form for further process.
BENEFITS OF THE SCHEME – VAJPAYEE BANKABLE YOJANA
- To provide financial help in terms of loans.
- To encourage self-employment among rural people of the state of Gujarat.
- Upliftment is done of minority sections of the society.
- Subsidies are also provided on the loans.
- Provision of jobs to unemployed people of the state.
- To decrease the level of unemployment rate in the state.
- To increase the GDP of the country.
- Generates self-employment opportunities for unemployed women craftsmen.
- Setting up new businesses that cover service sector activities.
The scheme works towards the welfare and development of the minority community of the state of Gujarat. Rural as well as urban people are also benefitted along with disabled and handicapped people of the state. People will be self-employed and will be self-dependant by earning their livelihood from self-established businesses. The development of various skills and talents is promoted under this scheme.