Chief Minister's Self Employment Scheme

About This Scheme

The "Chief Minister's Self Employment Scheme" was launched by the Department of Personnel, and Reforms, Training, Public Grievances, Government of Sikkim. The scheme aims to provide loan to unemployed youth who belong below the poverty line. The Chief Minister's Self Employment Scheme shall be a link program for all those unemployed youth who are trained in the Constituency wise Livelihood schools across the State, irrespective of their educational qualification and age to start up self-employment ventures in business, service and industrial activities.

Eligibility

1. The applicant should be unemployed. 1. The applicant's age should be between 22 to 35 years. 1. The applicant should have passed the 10th class. 1. The applicant's family annual income should not exceed ₹2,50,000/-. 1. Only one member per family shall be considered for the benefit, except in the case of Below Poverty Line (BPL) families.

Benefits

- Loans up to ₹3,00,000/- per individual. - Loans are interest-free for 2 years, followed by a 6% simple interest rate. Note: In case of the death of a loan recipient, the co-applicant shall be liable for a refund of the outstanding loan. The co-applicant is liable for a refund of only the principal amount to be paid within a period not exceeding one year.

How to Apply

Where This Comes From

This scheme was sourced from myScheme, the Government of India's official Central+State scheme discovery portal, and reviewed by an editor before publishing. Use the button above to read the full details and apply directly on the official source.