AP YSR Navodayam Scheme 2020 has been approved by Andhra Pradesh Cabinet Committee on 19th July 2019. State Cabinet has declared that under AP YSR Navodayam Scheme 2020 State Government will promote the Micro, Small and Medium Enterprises (MSMEs) under the state. The MSMEs who are suffering from Financial Problems previous Last 3 Years will get the financial help and Reconstructing loans under Andhra Pradesh Navodayam Scheme. If you want to know further information regarding the AP Navodayam Scheme then read the complete article carefully.
Launched Navodayam Scheme
Chief Minister Of Andhra Pradesh Mr. S Jagan Mohan Reddy has officially launched YSR Navodayam scheme on Thursday 18th Oct 2019. In the First Phase Government has selected 3600 Beneficiaries. Financial Help under the Scheme will be given as a One Time Restructuring (OTR) and those who qualified under the scheme will get the benefits on a priority basis
Details AP YSR Navodayam Scheme
Recently in State Budget YSR Government has allocated Rs 400 Crore for Enlarging and promoting Micro, Small and Medium Enterprises (MSMEs). Now to Support MSMEs in Andhra Pradesh state Government is going to sanction Rs 4000 crore for restructuring and developing infrastructure. For Providing Financial Assistance and loans government has identified around 86,000 MSMEs accounts in district wise.
What is Micro, Small & Medium Enterprises?
Micro, Small & Medium Enterprises (MSME) is a central govt. regulated body & it established under the Micro, Small & Medium Enterprises Development (MSMED) Act, 2006. MSME is classified in two classes i.e., Manufacturing Enterprises & Service Enterprises. Under the MSME govt. has classified Enterprises into three categories according to Investment. Ministry of Micro, Small & Medium Enterprises MSME Schemes serves a number of opportunities to establish our business.
Benefits AP YSR Navodayam Scheme
- Under the Scheme govt. will provide more credit and immediate investment to Micro, Small and Medium Enterprise (MSMEs).
- State Govt. has given a time frame of 9 months to utilize the AP YSR Navodayam Scheme.
- The scheme will definitely provide relief to Selected MSMEs under the state.
- YSR Navodayam Scheme will provide Growth and development of Coir Industry.
Objective of AP YSR Navodayam Scheme
YSR Government wants to Promote and empower MSMEs under the state. To fulfill this motive AP Govt. has launched AP YSR Navodayam Scheme. This scheme will definitely help in improving infrastructure, employment and financial situation of MSMEs. It is an initiative to give a fillip to the MSMEs in the State.
Key points of AP YSR Navodayam Scheme
|Scheme Name||AP YSR Navodayam Scheme 2019|
|Introduced by||Andra Pradesh Cabinet|
|Cost of Scheme||Rs 4000 crore|
|Type of Scheme||State Govt.|
|Beneficiary||Micro, Medium & Small Enterprises|
|Start Date to Apply||Available Soon|
AP YSR Free Electricity to SCs
Besides this in the Cabinet meeting, Chief Minister YSR Jagan Mohan Reddy also decided to provide free Electricity to Schedule Caste (SCs) Community Beneficiary. Under the AP YSR Free Electricity Scheme Government will provide upto 200 units of electricity to 15,62,684 SCs. At this scheme state government will spend approximate Rs 411 crore rupee annually. The purpose of starting this scheme is to improve the living standard of Deprived Categories.
YSR New Employment Scheme
Andhra Pradesh Cabinet also approved the bill in relation to the employment of jobless youths. Now according to the decision, all the local unemployed youth would be entitled to 75% of jobs in industries in their areas. All the people who lost their lands in land acquisition to set up industries would be provided employment in those industries. The motive of the scheme is to create more employment options for unemployed youths of the state.
Read More About YSR Housing Scheme 2020
Rs 10000 Financial Aid Scheme
Under this cabinet approval state government will provide Rs 10000 financial support to the weavers, barbers, and tailors. An amendment is being made to appoint Tirupati Urban Development Authority Chairman as an ex-officio member of the TTD.
Deprived Category Reservation Scheme
Under this decision state Government is providing 50 % Reservation to Deprived Categories (SC/ST/OBC ) in government Corporations, Boards, Societies, Trusts and market yards and in government nominated contracts, service contracts, and nominated posts. The government also proposes to provide 50% reservation to women in nominated posts. Fifty percent reservation will also be provided to BC, SC and ST classes in temple committees.
Step to Apply AP YSR Navodayam Scheme 2020
At this time CM YSR Jagan Mohan Reddy Navodayam Scheme is at their early stage and the Government has selected a total of 3600 beneficiaries out of 86000 MSMEs. Soon AP Govt will start to distribute Financial Aids on a priority basis. We will provide you each detail as soon as the related department will release any notification.
PSB Loan in 59 Minutes
Central Government of India are providing Loans up to INR 1 Crore to Micro, small and Medium enterprises only in 59 minutes. Small business persons and small scale entrepreneurs are not required to submit any physical document in the form of hard copy for principal amount approval. The objective of the Scheme is to promote MSMEs under the country. If you want to know more about the Scheme then Click here