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The Andhra Pradesh Government launched a scheme called YSR Navodayam The scheme aims to bail out micro, small and medium enterprises (MSMEs) in the State and provide them financial relief by restructuring their bank loans before March 31,2020.The state’s Chief Minister YS Jaganmohan Reddy inaugurated the scheme at his camp office at Tadepalli and then conducted a review meeting.
Under the scheme, about 80,0000 MSMEs in the State would be benefited as their bank loans, that are subject to a ceiling of Rs 25 crores, would be restructured. They would get more financial support and more time to pay back the loan.The objective of the YSR Navodayam Scheme was to accelerate economic growth and boost in the process of industrialization in the State. In order to enhance employment, the AP Government is incentivizing the youngsters in the State. Under this scheme, the Government supports and provides financial assistance to the Tailors, Barbers and Weavers of the State. The Government is also providing specific incentive amount through the scheme to generate employment.
YSR Navodayam Scheme 2020|ap tailors scheme 2020
he CM announced the scheme to cover the MSMEs, which will employ millions. The state government has already issued Rs 10 crore for financial support to MSMEs under the YSR Navodaya Scheme.
The scheme applies to MSMEs who have borrowed up to a maximum of Rs. 25 crores. The government will provide the financial assistance needed to renew accounts under one-time restructuring. The preparation of the audit report will support 50% of the cost of production and a maximum of Rs 2 lakh.
These companies will be releasing past financial incentives. About 3000 crore subsidy amount was not distributed to the industries. The scheme is open till 31 March 2020. The state government will implement the scheme in cooperation with the Reserve Bank of India.
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||16 october|
|Official website||Updated Soon|
Key Highlights of the AP Tailors Scheme
Some of the key features of the AP Tailors Scheme are given below:
- The AP cabinet committee has decided to allow one-time grant for the restructuring and developing infrastructure of MSMEs of around INR 4000 crores.
- Under the Scheme, the Government will provide more credit and immediate investment to the Micro, Small and Medium Enterprise (MSMEs).
- The State Government has fixed a time frame of 9 months to utilize the funds that are released under the AP YSR Navodayam Scheme.
- This YSR Navodayam Scheme has been rolled out with the goal of facilitating the growth and development of the Coir Industry.
- On implementing the scheme, the Government ensures that the MSMEs does not become Non-Performing Assets (NPA).
- The State cabinet has also approved to set a new enactment to promote investments in the state. For this purpose, the AP Investment Promotion and Monitoring Act-2019 Draft Bill will be put into effect by official proclamation.
- The cabinet board has also approved the draft bill over the control and supervision of schools and higher education institutions. The main aim is on ensuring the quality standards in the education fields, fees control and implementation of Right to Education (RTE) Act.
- Reservation to SC/ST/BC: The Government decides to provide 50% of reservation to the BC, 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. It is proposed that 50% reservation to women in nominated posts will be provided. In addition to this, 50% reservation would be provided to BC, SC, ST classes in the temple committees.
- Free Electricity to SCs: The State Government has approved to provide free electricity to the SCs up to 200 units. For this purpose, the Government will spend INR 411 crore for the benefits of SCs.
- Employment for Youths: The AP cabinet has approved the bill in relation to the employment of jobless youths. All the local unemployed youth would be entitled to 75% of jobs in the industries in their areas. All the people who lost their lands in land acquisition to set up industries would be provided with employment opportunities in those industries. The state cabinet board has also approved a proposal to provide INR 10000 financial aid to weavers, barbers and tailors.
ysr navodayam scheme Eligibility Criteria
The below following are the criteria to be fulfilled by the enterprises to avail the grant:
- Applicants working as Barbers, Tailors, Weavers and MSMEs workers are covered under this scheme.
- The benefit of the scheme will be provided only to the permanent residents of AP.
- The beneficiaries must belong to the Below Poverty Line (BPL) population.
- To get the benefits under this scheme, the applicants need a bank account.
ysr navodayam scheme 2020 Documents Required
The eligible beneficiary must attach the below following documents to apply for this scheme:
- Identity Proof: PAN, Aadhaar, Driving License, Voter Identity Card, etc.
- Address Proof: Aadhar Number, legal Passport, Utility bill, Property tax bill, etc.
- Below Poverty Line Certificate
- Income Certificate
- Bank Account Passbook (Photocopy of the first page)
- Any other documents (if applicable)
ysr navodayam scheme apply online
- Applicants first of all visit the concerned website link that is https://bcwelfare.apcfss.in/
- And then scroll down to page, Click on “Click here to apply online application for Financial Assistance to Washerman, Barbers and Tailors Link”
- The page will load in new tab, then it will asked your Aadhaar Card Number.
- Enter your Aadhaar Number and Click on “Continue” Button.
- Here You have to Enter OTP and Submit it.
- Kindly fill all details carefully such as Ration Card Number, Mee Seva Integrated Certificate No., Address, Mobile Number, Bank Account Details, Beneficiary Details activity etc.
- Upload a recent passport size photograph of Beneficiary.
- Finally click on submit button and save the details.
Read more— AP YSR RYTHU Bharosa Scheme 2020