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We all are well aware of the attempt and practices that the Andhra Pradesh government is doing for the well being of the citizens of their state. This time, the government has come up with a new scheme called YSR Badugu Vikasam. The scheme has been launched by the Chief Minister of Andhra Pradesh for the upliftment of the Scheduled Caste and Scheduled Tribe community of the state. So, today we are going to provide our users with all the details related to the scheme like Eligibility Criteria, Scheme Objective, Documents Required, Application Procedure, Amount to be provided, etc. Readers are advised to go through the article completely to get details of the scheme.
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YSR Badugu Vikasam 2022
Gone are the days when Scheduled Caste and Scheduled Tribe people have to find workplaces to overcome their daily basic needs because the Government of Andhra Pradesh has launched a new scheme that will provide various benefits to the SC/ST people of the state. Andhra Pradesh Chief Minister Mr. Jaganmohan Reddy launched this new scheme on 27th October 2020 at the special festival of Dusshera. The scheme will provide development initiative for the benefit of SC and ST entrepreneurs, providing higher reimbursement in power charges and investment subsidy among others. This scheme has been launched on people’s opinion as many of the people were saying the launched Industrial Policy 2020-23 do not have anything to do with the downtrodden community. The scheme has been named after the Chief Minister and his late father.
The honourable CM @ysjagan garu launched Jagananna YSR Badugu Vikasam, a special industrial policy 2020-23 for SC & ST entrepreneurs. The days of SCs and STs remaining as workers are long gone and the time is fast approaching for them to grow as industrialists! #YSJaganCares pic.twitter.com/AhK45RgxGR— Aranii Srenevasulu – MLA (@Jmc_MLA) October 26, 2020
Highlights of YSR Badugu Vikasam
|Scheme Name||YSR Badugu Vikasam|
|Launched by||Government of Andhra Pradesh|
|Objective||providing higher reimbursement in power charges and investment subsidy in other fields|
|Beneficiary||Scheduled Caste and Scheduled Tribe community of Andhra Pradesh State|
YSR Badugu Vikasam Objective
Among many of the other objectives, one of the main objectives of the scheme is to boost the economic status of the downtrodden communities. Under this scheme, the government aims to provide various manufacturing incentives to the scheduled caste and Scheduled tribe community. This will help in making the people of these communities self-dependent and more workable. The Government of Andhra Pradesh aims to provide hire reimbursement in power charges and investment subsidy for the upcoming SC-ST entrepreneurs. During the launching of the screen Chief Minister of the Andhra Pradesh state said the new policy would promote manufacturing and service sector activities among the socially disadvantaged communities to create greater economic impact.
Benefits of YSR Badugu Vikasam
- The scheme has been launched to provide multi-benefits to the targeted audience. Some of the main benefits of the scheme are mentioned below-
- Scheduled caste and Scheduled tribe of the state will be benefited through this scheme.
- Various incentives and reimbursement will be provided to the targeted audience.
- The scheme will help in producing more entrepreneurs from the community.
- People of the state can earn their daily bread easily through the screen.
- More revenue will be generated as there will be more business in the state.
- This scheme will help in creating more employment opportunities for the people of the state.
- People with low investment can also start their own business as the government will provide them incentives and subsidy.
Key features of YSR Badugu Vikasam
- The scheme has been launched for the scheduled caste and Scheduled Tribes of the Andhra Pradesh state.
- This will help in producing more entrepreneurs in the state.
- A 25 paise increase in reimbursement of power charges per unit, a 10 per cent rise in investment subsidy and an enhancement of 9 per cent in interest subsidy for micro, small and medium enterprises (MSMEs) are the notable features in the separate policy for SCs and STs.
- Under Badugu Vikasam, SC and ST entrepreneurs setting up manufacturing units will get an investment subsidy of 45 per cent, with a cap of Rs one crore.
- For the service sector and transport-related units, the subsidy amount has been capped at Rs 75 lakh, according to the policy document.
- The interest subsidy for MSMEs that was fixed at three per cent in the Industrial Policy has been enhanced by nine per cent under Badugu Vikasam.
- Similarly, power cost reimbursement increased to Rs 1. 50 per unit.
- It said 25 per cent seed capital assistance will be provided for machinery for first-generation entrepreneurs establishing micro-units.
- In the industrial parks in AP, 16.2 per cent of plots would be reserved for SCs and six per cent for STs.
- The SC and ST entrepreneurs need to pay only 25 per cent of the land cost upfront and the balance payment could be done over 8 years, with 8 per cent interest, after the start of commercial production.
- A dedicated SC and ST Entrepreneur Facilitation Cell will be set up in all District Industries Centres for handholding support and Entrepreneurship Development Programmes will be taken up to provide necessary capabilities and skills, the policy document said.
- The government will take up the capacity building, skill development training programmes, sectoral studies for future-ready investable opportunities and identification of various marketing opportunities in the respective sectors for the SC and ST entrepreneurs.
- Explaining the need for a separate industrial policy for SCs and STs, the Chief Minister noted that there had been no major spurt in entrepreneurship among these communities over the years.
YSR Badugu Vikasam Application Procedure
As the scheme is a newly launched scheme, there is no certain application procedure yet for the scheme announced by the Andhra Pradesh government. The Government of Andhra Pradesh is working on this scheme. As soon as any information is provided by the government authority we will share with you the same. Stay connected to get more updates on the scheme.