Note4Students
From UPSC perspective, the following things are important :
Prelims level: Yuva Sahakar Scheme
Why in the News?
The Ministry of Cooperation, in written reply to a question in the Lok Sabha has informed about the progress of the Yuva Sahakar Scheme.
Current Financial Details:
- As of 30th November 2024, the following financial assistance details have been recorded:
- Sanctioned Amount: ₹4734.97 lakh to cooperatives with 18,915 beneficiary members.
- Disbursed Amount: ₹294.44 lakh.
- Sanctioned for 2024: ₹230.61 lakh, with ₹89.88 lakh disbursed.
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About the Yuva Sahakar Scheme:
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Details |
| Overview and Objectives |
- Launched in 2018 under the Ministry of Agriculture and Farmers Welfare.
- Implemented by NCDC (National Cooperative Development Corporation), which operates under the Ministry of Cooperation
- Goal: To promote the formation of new cooperative societies and encourage innovative ideas from young entrepreneurs.
- Targets cooperatives that have been operational for at least 3 months.
| NOTE: NCDC was established in 1963 as a statutory Corporation under Ministry of Agriculture & Farmers Welfare. |
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| Features and Provisions |
- Loan Tenure: Up to 5 years.
- Interest Subvention: 2% subvention on the applicable interest rate for term loans related to project activities.
- Subsidy Integration: Loans can be combined with subsidies available under other Government of India schemes.
- Eligibility: All cooperatives in operation for at least 1 year are eligible for funding based on proposed projects.
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| Significance |
- Encourages cooperatives to explore new and innovative areas.
- Dedicated fund by NCDC for youth cooperatives.
- Linked to the ₹1000 crore Cooperative Start-up and Innovation Fund (CSIF).
- Increased funding for cooperatives from North Eastern regions, Aspirational Districts, and those with women, SC/ST, or PwD members.
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