Thu, Oct 27, 2016 | updated 06:31 AM IST

JKEDI schemes helping unemployed youth to shape their futures

Updated: Sep 21, 2016 07:55 IST

Poonch (Jammu and Kashmir) [India], Sept. 21 (ANI): Various schemes being run by the Jammu and Kashmir Entrepreneurship Development Institute (JKEDI) under the state government are providing opportunities to the unemployed youth of the state to enable them build their future and give wings to their dreams.

The department, apart from providing the required resources, is motivating the unemployed youth to acquire an entrepreneurial spirit and set up their own businesses.

As many as 350 big and small units are running in Poonch district itself under different schemes of the JKEDI department. The department is also providing training to fresh batches for self employment.

One such example is Mohammad Jafayat, who is currently running a dairy farm.

"Initially, I had a permission to have only eight cows. Now, I have 11 cows. My unit is running fine and I am planning to expand it further. I have a monthly earning of about Rs.80,000," he told ANI.

"I supply milk products to various regions in Poonch. The EDI Department and the banks have given me a lot of support," he added.

Another beneficiary of the scheme is Dr. Amanpreet Singh, who has started the Peer Panchal Hospital in the Surankote region of Jammu and Kashmir.

"In the hospital we provide multi-specialty facilities to the people of this region. I started in this region two years ago. At that point of time, I wanted to start a venture for which I needed money. Then, some of my friends told me that there is government department called JKEDI which helps the unemployed youth in establishing their own ventures," he added.

He added that the classes under the JKEDI scheme also taught him the skills of running a successful business.

"This department provides us motivation and awareness as to how can we create employment opportunities for ourselves and for others," he said.

One of the schemes of the JKEDI Department is the Youth Start-up Loan Scheme (YSLS).

A part of the Jammu and Kashmir government's flagship Sher-e-Kashmir Employment and Welfare Programme for Youth (SKEWPY), YSLS is a pilot off bank credit facility that offers a maximum of Rs 8 lakhs to young startup entrepreneurs.

Another scheme is the Seed Capital Fund Scheme (SCFS), which is a landmark economic empowerment initiative of the state. The scheme provides seed money of up to Rs. 7.5 lakhs coupled with an offer of bank financing at concessional rates to eligible youth for setting up their enterprises.

The institute is the sole implementing agency for the scheme, whereas, the Jammu and Kashmir Bank is its debt syndicator. (ANI)