YSR Navodayam Scheme in AP for MSME 2020

YSR Navodayam Scheme in AP for MSME 2020 [Eligibility, Loan, Registration Form Process, How to Apply, Website]

It is a high time to do something for the small, micro and the macro industry and the Andhra Pradesh government has taken up the initiative to help them. The Chief Minister of Andhra Pradesh Y.S Jagan Mohan Reddy has launched a scheme for those enterprises on November, 2019. The scheme will help them to get some relief by providing monetary assistance. It is believed that due to the scheme approximately 80,000 MSMEs will be benefitted all across the state. The scheme called YSR Navodayam is believed to boost the economic growth of Andhra Pradesh. The launch details are given below as a tabular form.

AP-YSR-Navodayam-Scheme-for-MSME

The launch details

Name of the scheme YSR Navodayam Scheme

 

Launched by CM Y.S Jagan Mohan Reddy
Date of launch November, 2019
Place of launch Andhra Pradesh
Target beneficiary MSMEs

 Key features of the scheme

  • Grand for the scheme- As per the scheme there will be one time grant for enhancing the infrastructure of the scheme. In order to that around 4000 crore rupees allotted for the
  • Primary benefit- The beneficiary enterprise of the scheme will receive loan on an immediate basis so that they can invest the money.
  • Utilization of the fund- There is a time limit for utilizing the fund given by the scheme and the time limit is maximum 9 months.
  • Special attention- The scheme is giving special attention to the coir industry son that they can flourish.
  • Reservation under the scheme – Under the scheme the people belong to the SC, ST or OBC will get a special attention. They will receive 50% under the scheme. The women will also come under the 50% reservation under the scheme.
  • Free electricity- The beneficiary enterprise will get facility of free electricity up to 200 units. And to supply the free electricity to the MSMEs the state government has allotted 411 crore rupees.
  • Employment facility- The government has design the scheme in a way that will generate employment in the industry. The government wants to generate 75% employment under the scheme in the MSME sector. People who have lost land during time of land acquisition will get the job at first and that will compensate the land loss.
  • Facility for the minor business- According to the rules of the scheme, the barbers, weavers, and tailors will get 10,000 rupees as monetary assistance.

Eligibility criteria for the scheme

  • Address proof- In order to become the beneficiary of the scheme the candidates need to submit address proof as the scheme is applicable for the people live in Andhra Pradesh. As address proof the candidates need to submit utility boll, passport, Aadhar number, property tax bill, etc.
  • Identity proof- In order to prove you are a legal citizen of the country you need to produce Voter card, Aadhar card, Pan Card, driving license, etc.
  • BPL certificate- People coming from marginal family need to produce BPL certificate during the time of application.
  • Income certificate- In order to become the beneficiary of the scheme the candidates are asked to submit income certificate.
  • Bank details- The money will be transferred directly to the bank account of the beneficiary and this is the reason the candidates are asked to provide details of bank account.

How to apply for the scheme? 

  • Visiting the website- In order to apply for the scheme you need to visit the website. A home page will appear, you need to go to the right location to for application
  • Starting application-After clicking on the ‘apply now’ you need to enter your Aadhar number and after providing it you need to click on ‘continue’.
  • Entering OTP-You will get an OTP at your official mobile number you need to enter the OTP and then a new page will open.
  • Entering the details- On the new page you need to enter all your details correctly. After entering all the personal details you need to click on ‘Submit’.

It is said that the scheme will help to revive the MSME and that will help to increase the growth of the state. If the scheme starts working effective then it will be beneficial to a large number of people as it will save a lot of enterprise and thus save the employment. And the government is also trying so that the scheme does not turn into a Non Performing Asset.

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