Assam CM Launches Rs 2-5 Lakh Seed Capital for 10,400 Young Entrepreneurs

It may be noted that under the Chief Minister's Atmanirbhar Assam Abhiyan 2.0, the State government has decided to support 74,036 prospective entrepreneurs across the state. Under the general category, each beneficiary will receive Rs 2 lakh.

Under the professional category, which includes engineers, MBBS and BDS graduates, and others who have completed professional courses, each beneficiary will receive Rs 5 lakh.

Through today's programme, the government disbursed the first instalment to a total of 10,404 beneficiaries, including 3,888 from Dibrugarh district, 1,956 from Sivasagar district, 3,341 from Tinsukia district, and 1,219 from Charaideo district.

Of these, 23 beneficiaries belong to the professional category and 10,381 to the general category.

Speaking on the occasion, Chief Minister Sarma said that CM-AAA 1.0 was launched in September 2023 and under this initiative, 25,277 young entrepreneurs received Rs 50,000 as the first installment, along with a three-day training programme.

"After completing the training, they received Rs 24,000 as the second installment. Beneficiaries under Atmanirbhar Assam Abhiyan 1.0 would receive the third installment of Rs 1 lakh in February or in the first week of March this year. In addition to financial assistance from the State government, CM-AAA also connects beneficiaries with banks. As a result, 2,000 beneficiaries from the first phase have already secured bank loans up to Rs 10 lakh," he said.

He also informed that three banks in the state have shown interest in providing loans under the Pradhan Mantri Mudra Yojana to 3,000 youths who received assistance under CM-AAA.

On the occasion, the Chief Minister urged young entrepreneurs to use the government's financial support responsibly and strengthen their businesses.

"Under CM-AAA 2.0, State government will spend a total of Rs 1,482 crore to support 74,036 entrepreneurs, without taking any collateral from beneficiaries. To ensure effective implementation, the government has appointed CM Fellows in every Assembly constituency. These fellows will stay in direct contact with entrepreneurs, track business progress, and provide necessary support to help them succeed," the Chief Minister said.

Reiterating the government's focus on making the youth work-oriented, Sarma said that 1.6 lakh youth have already secured government jobs based on merit and transparency.

"The government is also working to help talented youths secure jobs in Central government departments. While government employees contribute to state building, that they cannot generate employment for others. In contrast, entrepreneurs not only establish themselves but also create jobs for many others," he said.

The Chief Minister, on the occasion, reiterated his goal of transforming the state's youth into employment generators, a vision also emphasised by Prime Minister Narendra Modi.

He expressed confidence that the 10,404 beneficiaries from Dibrugarh, Sivasagar, Tinsukia, and Charaideo districts who received financial assistance under CM-AAA 2.0 would become self reliant and create employment for others.

Referring to the growing positive environment for entrepreneurship in the state, he said that MSME registrations on the Udyam portal have increased from 9,371 in 2020 to more than 12.75 lakh at present.

He also stated that till March 2025, banks have extended more than Rs 30,773 crore in loans to small entrepreneurs.

"The proposed large thermal power plant in Dhubri would require a large number of trucks to transport coal from the rail station. Similarly, the Jagiroad semiconductor project, being built at a cost of around Rs 30,000 crore, would create employment for nearly 30,000 people across various categories. This large workforce would generate demand for shops and other small businesses around the project area. In the same way, the Namrup Methanol and Urea project, with an investment of about Rs 12,000 crore, would provide employment to around 2,000 youths after completion and would also create demand for a significant number of vehicles for transportation," the Chief Minister said.

He called upon the youth of the state to step forward and take advantage of the direct and indirect employment opportunities created by such industrial growth.

He, however, observed that if local youths fail to seize these opportunities, workers from other parts of the country would fill the gap.

The Chief Minister also said that the unprecedented growth of entrepreneurship in Assam has improved livelihoods by creating employment across different sectors of society.

He mentioned the PepsiCo potato processing unit in Nalbari, the production of ethanol and methanol from bamboo in Assam, and the initiative to produce bio oil from Napier grass in Karbi Anglong.

He said these efforts have opened an array of opportunities for the youth of the state.

Sarma said that these initiatives strengthened government's commitment to empower youth as job creators and accelerate the state's journey towards self-reliance and inclusive economic growth.

Minister of Industries, Commerce and Public Enterprises, Bimal Bora, Minister of Cooperation Jogen Mohan, Minister of Power Prasanta Phukan, MP Rameswar Teli, MLAs Taranga Gogoi, Chakradhar Gogoi, Sanjay Kishan, Suren Phukan, and Dharmeswar Konwar, Additional Chief Secretary J B Ekka, and a host of dignitaries were present on the occasion.

- ANI