In an attempt to empower women socially and economically, J&K Mission Youth has announced the implementation of the Tejaswini Scheme in the Union Territory. J&K LG Manoj Sinha, on the occasion of International Women’s Day, launched a start-up funding program for adolescents and young women of the UT to make them empowered and self-dependent through their business ventures.
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. The authorities have asked the women entrepreneurs to formalize their proposals, which the District Level Implementation Committee will approve.
A notification seeking applications will be issued in each district, while an online portal will also remain available for online applications and approvals. According to a spokesperson, female entrepreneurs shall be facilitated to avail financial assistance under Mudra from J&K Bank to the extent of Rs 5 lakh. In addition, mission Youth, J&K, shall provide Rs 50,000 or 10% of the project cost as a subsidy.
Besides, as a special incentive, Mission Youth shall also sponsor the interest component of the loan, and its repayment will be interest-free for young female entrepreneurs. The scheme intends to assist 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% of financial holding besides setting up women-centric businesses and micro start-ups.
