Schemes-> JAMMU & KASHMIR STATE SELF EMPLOYMENT SCHEME

                                                                       

             INTRODUCTION

The “Jammu and Kashmir State Self Employment Scheme” being implemented by Employment Department provides margin money, capital and interest subsidy assistance to the educated unemployed youth of the State for establishing their own employment generating units since 1995-96.

             Eligibility Criteria:

i)

Age

18-42 years. (General Category)
18 -47 (SC/ST/OBC/Handicapped/Ex-Servicemen/Women)

ii)

Qualification requirement

8th Pass. However, no educational qualification shall be insisted upon for candidates having qualified training course of not less than one academic year duration from a Government Institution .

iii)

Project Cost

a)

Rs.2.00 lakhs for Retail trade

b)

Rs.3.00 lakhs for Service/Industries trade

c)

Rs.10.00 lakhs for joint venture (2 persons  and above)

iv)

Financing pattern

a)

Bank Loan

75%

b)

Promoter's contribution        

5%

c)   

Capital Subsidy    

5% of the project cost subject to a maximum limit of Rs.7500/-

d)

Margin Money

15% by way of as interest free loan to be recovered after the expiry of the term of the bank loan sanctioned in favour of the entrepreneur

             Incentives:

                   i)    Margin Money  

As an incentive ,Margin Money @ 15% of the project cost is paid to the beneficiary as an interest-free loan towards equity contribution of the entrepreneur which is repayable in 5 equal yearly installments after the liquidation of the loan amount.

                  ii)     Interest Subsidy 

The Govt. is providing Interest Subsidy to beneficiaries on the bank loan on tapering basis for a period of two years in the following pattern:-

i)

During 1st 6 months       

100%

ii)

One year after 1st 6 months

  75%

iii)

Next 6 months                            

  50%

                  iii)    Capital Subsidy 

          5% of the project cost subject to a limit of Rs. 7500/-.

(Contact person: Deputy Directors / Assistant Directors Employment of the concerned District)

                                                                                                                    


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