For the development of the Medium And Small Margin Enterprises, the government of Andhra Pradesh state has developed the YSR Navodayam Scheme for the year 2019-2020. As we all know that after the implementation of GST the condition of small and medium enterprises has been going down from day to day so under this article today we will provide you all the details about the YSR Navodayam Scheme. We have covered each and every key detail about the scheme such as eligibility criteria, application process and also the selection process under the scheme for the year 2019 and 2020
YSR Navodayam Scheme
The YSR Navodayam Scheme is the scheme for the people who are carrying out small and medium business activities that too on their own. Under the YSR Navodayam Scheme incentive are being provided to the people. The Government of Andhra Pradesh also intends to provide financial assistance to the eligible industrial units engaged in the manufacturing and service sectors. Under this scheme, the Government supports and provides financial assistance to the Tailors, Barbers, and Weavers of the State.
Selected Beneficiary In YSR Navodayam Scheme
Chief Minister of Andhra Pradesh has officially launched the scheme on 18th Oct 2019. The First Phase of Implementation of the Scheme State Government has selected total 3600 MSMEs Out of 86000 MSMEs. Now Government will Provide One Time Restructuring (OTR) Financial Allowances to these beneficiaries as a priority basis. Under the Scheme, Government has already sanctioned Rs 4000 Crore.
Key points of AP YSR Navodayam Scheme
|Scheme Name||AP YSR Navodayam Scheme 2019|
|Introduced by||Andra Pradesh Cabinet|
|Cost of Scheme||Rs 4000 crore|
|Type of Scheme||State Govt.|
|Beneficiary||Micro, Medium & Small Enterprises|
|Start Date to Apply||Available Soon|
Benefits Of YSR Navodayam Scheme
The YSR Navodayam Scheme provides many benefits for the residents of the Andhra Pradesh state. Some such benefits are given below:-
- The scheme provides financial assistance to the eligible poor people of the state.
- The scheme helps the MSMEs and gives them economical satisfaction.
- Also through this scheme, the Government ensures that the MSMEs does not become Non-Performing Assets (NPA)
- The scheme also helps in proper establishment of the MSMEs
- Under the scheme the Government will also provide more credit and immediate investment to the MSMEs
Eligibility Criteria For The Scheme
To be eligible for the YSR Navodayam scheme the applicant must go through the following eligibility criteria given below:-
- Only applicants working as Barbers, Tailors, Weavers, and MSMEs workers are eligible under this scheme.
- Only the permanent residents of Andra Pradesh can avail of the benefits of the scheme.
- The beneficiaries must belong to the Below Poverty Line (BPL) population.
- Applicants need a bank account to apply for the scheme.
Documents Required To Apply For The Scheme
The following documents must be attached while filling out the application form:-
- Identity Proof – The following
documents must be attached for identification
- Driving License
- Voter Identity Card
- Address Proof – The following document must be attached to prove your
- Aadhar Number
- Legal Passport
- Utility bill
- Property tax bill
- Below Poverty Line Certificate
- Income Certificate – To prove the eligible income criteria.
Perks Of The Scheme
Many perks under the YSR Navodayama scheme will be enjoyed by the applicants of the scheme. Few such perks are given below:-
- Under this scheme, the Government has decided to provide 50% of reservation to the backward cast such as ST, SC and Minority categories in the Government corporations, boards, societies, trusts and market yards and in the Government nominated contracts, service contracts and nominated posts.
- Also 50% reservation will be provided to women in nominated posts.
- Also, in addition to this 50% reservation would be provided to backward caste such as SC, ST classes in the temple committees.
- The State Government will also provide free electricity to the SC caste up to 200 units.
- The Government in total will spend INR 411 crore for the benefits of SC caste.
- All the local unemployed youth would also be entitled to 75% of jobs in the industries in their areas.
- The state cabinet board has also approved a proposal to provide a total of INR 10000 financial aid to weavers, barbers and tailors.
Application Procedure For YSR Navodayam Scheme
Under the Scheme, AP Govt has selected a total of 3600 beneficiaries out of 86000 MSMEs. Soon AP Govt will start to distribute Financial Aids on a priority basis. We will provide you each detail as soon as the related department will release any notification. For getting more information about the scheme you may also visit at the official website.