Rajiv Yuva Vikasam: 5 Lakh Telangana Youth to Get Sanction Letters on June 2
He pointed out that the subsidy-to-loan ratio has now been reversed from 30:70 to 70:30, favouring a larger grant component to support youth entrepreneurs.
Hyderabad: Deputy Chief Minister Bhatti Vikramarka announced that the Telangana government is set to distribute sanction letters to 5 lakh unemployed youth under the Rajiv Yuva Vikasam self-employment scheme on June 2, coinciding with Telangana Formation Day.
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Unprecedented Financial Support for Youth Employment
Addressing the State-Level Bankers’ Committee (SLBC) meeting in Hyderabad, Bhatti Vikramarka said the initiative involves financial support worth ₹9,000 crore, out of which ₹6,250 crore will be given as government subsidy. He pointed out that the subsidy-to-loan ratio has now been reversed from 30:70 to 70:30, favouring a larger grant component to support youth entrepreneurs.
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Appeal to Banks for Active Participation
The Deputy CM urged bankers to cooperate fully to meet the target, emphasizing that banks need to allocate just 0.2% of the ₹8 lakh crore Annual Credit Plan for this scheme. He requested the SLBC to appoint a nodal officer to monitor and coordinate implementation across all banks at the field level.
Skill Development and Education Also in Focus
Highlighting the state’s broader development goals, Bhatti said the government is establishing a Skill University and Advanced Technology Centers in every Assembly constituency. He reiterated Telangana’s commitment to full fee reimbursement from school to university level to create an educated and employable workforce.
Agriculture and Oil Palm Cultivation Get Priority
While affirming that agriculture remains a top priority, the Deputy CM encouraged banks to liberally sanction loans for oil palm cultivation, calling it a “dream project” of the government. He also underscored the importance of promoting horticultural crops for sustainable rural development.
The Rajiv Yuva Vikasam scheme represents a landmark step in addressing youth unemployment and boosting Telangana’s economy through skill development and entrepreneurship.
