West Bengal Karma Sathi Prakalpa Project Report - Summary
West Bengal government has introduced the Karma Sathi Prakalpa Project to support unemployed youths. This innovative WB Karma Sathi Prakalpa Scheme offers loans of up to Rs. 2 lakh to help jobless individuals become self-reliant. In the recent Budget for 2020-21, the state government allocated Rs. 500 crore to empower urban unemployed youths. These loans will assist in launching various income-generating projects.
The State Cooperation Department of West Bengal will oversee the implementation of the Karma Sathi Prakalpa Scheme. Each year, the government aims to provide soft loans to 1 lakh youths, enabling them to start their own businesses and become entrepreneurs.
With this loan, youths can create self-employment opportunities for themselves, transforming into job creators rather than mere job seekers.
Objective of Karma Sathi Prakalpa Scheme 2020
The state government introduced this new scheme following directions from Chief Minister Mamata Banerjee. The primary aim is to empower unemployed youths and make them self-reliant.
- A new scheme called “Karma Sathi Prakalpa” has been launched by the Bengal Government to offer soft loans and subsidies to 1 lakh unemployed youths.
- The Chief Minister announced that the unemployment rate in West Bengal had decreased significantly.
- While the national unemployment rate in India has soared to 24%, West Bengal’s unemployment rate has dropped by 40%.
The government has set an annual target to provide loans to one lakh youths. Each individual can receive a loan of up to Rs. 2 lakh. Alongside the loans, the government will also offer subsidies to encourage new projects.
Key Features of WB Karma Sathi Prakalpa Scheme
The key highlights of the WB Karma Sathi Prakalpa Scheme include:
- Easy access to loans for youth self-employment under the Karma Sathi Prakalpa Scheme in West Bengal.
- Loans available up to a maximum amount of Rs. 200,000 per candidate.
- The loans will empower unemployed youths to create a supportive environment for jobs and opportunities.
- The West Bengal government has sanctioned Rs. 500 crore to aid urban unemployed youths in becoming self-reliant.
- Loans will be disbursed through cooperative banks owned by the state government.
It is anticipated that the assistance will encourage unemployed youths to engage in small manufacturing activities, leading to their self-reliance.
Eligibility Criteria
Applicants must meet the following criteria to be eligible for this self-employment scheme:
- Candidates must be permanent residents of West Bengal.
- Applicants must be unemployed and actively seeking a job.
- Eligibility extends only to jobless candidates who have completed their 10th or 12th grade from a recognized institution.
All interested youths looking to thrive in their business endeavors and needing financial assistance can apply for the Karma Sathi Prakalpa Scheme.
For more details, you can download the Karma Sathi Prakalpa Project Report West Bengal in PDF format using the link provided below.
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