YSR Navodayam Scheme in Andhra Pradesh for MSME 2019-20

YSR Navodayam Scheme in Andhra Pradesh for MSME 2019-20 [Eligibility, Loan, Application Form Process, Documents]

The YSR Navodayam scheme has been launched by Andhra Pradesh government. Its primary concern is to reconstruct and improve the condition of MSMEs. The workers working in MSME sectors will be given financial help by the successful implementation of the entitled scheme. However, the state is planning to cover near about 86000 MSME account across several districts.

AP YSR Navodayam Scheme for MSME

Launch details 

Name AP YSR Navodayam scheme
Target group Micro, small and medium sectors
Launched in

 

Andhra Pradesh
Announced by

 

Andhra Pradesh government
Launch date July 2019
Amount allotment Rupees 400 crore

 

Key features of the YSR Navodayam scheme

  • Main aim of scheme – The main focus of launching this scheme is to provide financial help for workers of MSME as they are dealing with a financial problem for the past three years.
  • Target group of the scheme – The target group of the people is the workers of MSME enterprises facing financial crisis. However, by this scheme, it can be ensured that the MSME do not become Non Performing Assets and does not freeze.
  • Amount allotment – The state government has given rupees 400 crores as a one-time grant for reconstruction of MSME. In addition, more grants will be given for immediate utilization in recent times. Therefore, with immediate investment given by the state for MSME will help improve its condition.
  • Electricity facility – Other than this, some reservations have been announced by the cabinet in relation to this scheme. Free electricity facility will be given to 200 units belonging to scheduled castes. As a total, near about 15, 62,648 people will be benefitted from the scheme.
  • Reservation for backward sections – The state government has announced to give 50% reservation to the people belonging to SC, ST and minority group who are working in different industries. Also, in temple committees, 50% reservation has been made for SC, ST, and BC classes.

Eligibility criteria for the YSR Navodayam scheme

  • Identity of workers – The above-said scheme has been launched in Andhra Pradesh. So, only the citizens of the state will be allowed to get scheme benefits. Workers belonging to other states cannot get scheme benefits.
  • Working in MSMEs – The workers working as weavers, tailors, barbers, and the like have to provide relevant certificate in support of their claim that they are MSME workers. People from other sectors will not be allowed to get scheme benefits.
  • Income certificate – An income limit would be set by the state government as it will be required to consider whether the MSME worker is capable of getting the benefits of scheme or not.
  • Bank account details – The worker should provide bank account details when registering for the scheme. It shall help the scheme authorities to check the financial condition. Also, it will be required to transfer the beneficiary amount directly in the linked bank account.

However, the cabinet has proposed to assist near about 10000 barbers, weavers, tailors, and the others with the successful implementation of the scheme.

Documents required under the YSR Navodayam scheme

  • Residential proof –Only the MSME workers belonging to Andhra Pradesh can avail the scheme benefits, and so, they have to provide the suitable document in support of their claim.
  • Income certificate – The income certificate will be required to check the annual income of the worker. Also, it will help to know whether the person is employed under MSME or not.
  • Bank documents – Bank related documents will be required to link the same as the above-said scheme. The beneficiary amount will be given in the linked bank account of the workers working in MSMEs.

Online application form procedure of YSR Navodayam scheme

Since this is a newly launched scheme under the state government, a detailed procedure of online application is yet to be declared. As soon as it comes out, the beneficiary workers will be the first to know about it. However, to get updates, workers should stay updated by paying frequent visits to the official portal of the scheme.

By successful implementation of the scheme, condition of MSME workers can be improved. In addition, a lot of employment opportunities will be created for unemployed youth. However, it can be said that near about 75% of jobs will be created in industries. Also, workers who lost land for setting up industries will be given adequate assistance. Therefore, the cabinet has planned to help financially 10000 weavers, tailors, and barbers.

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