YUVA SAHAKAR – COOPERATIVE ENTERPRISE SUPPORT AND INNOVATION SCHEME
Feb. 28, 2019
On the occasion of 84th General Council meeting of NCDC, Union Agriculture & Farmers Welfare Minister said that the new ‘Yuva Sahakar’ scheme is acting as a boon to young entrepreneurs in cooperatives.
About:
Objective: To encourage cooperative start-ups and innovative projects in agriculture and allied sectors by providing them cheaper loans.
Implementing agency: National Cooperative Development Corporation (NCDC).
Funding: A corpus fund of Rs 1,000 crore has been created by NCDC for this purpose.
Eligibility: Cooperative registered even one years ago will be eligible.
Scheme Components:
The scheme has component of subsidy as well as interest subvention.
Subsidy:
The funding of a project will be up to 80 % of the project cost for cooperatives in the north eastern region, in the 'aspirational districts' as well as cooperatives which have 100 % women or SC/ST members or People with Disabilities.
For general category the funding of a project will be up to 70 % of the project cost.
Interest Subvention: Other than the subsidy, the scheme envisages 2 % interest subvention on the loan for the project cost up to Rs 3 crore, including 2 years moratorium on payment of principal.
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