SWAYAM Scheme Odisha Government: Eligibility, How To Apply Online, Documents Required, Benefits

The Swatantra Yuva Udyami Scheme or SWAYAM scheme is one of the most successful schemes launched by the Government of Odisha on 12 February 2024. This scheme helps the youth of the state develop and empower themselves by offering interest-free loans.

Any state or country has always been represented by their youth since they are the ones who are going to lead the future. Hence, this flagship programme for the youth of Odisha is a great initiative for the golden days ahead. Scroll down to learn more about the SWAYAM scheme in Odisha in detail.

What is the SWAYAM Scheme by the Odisha Government?

The SWAYAM (Swatantra Yuva Udyami) scheme in Odisha provides the youth of the state with financial assistance to encourage them to set up small enterprises relating to service, manufacturing and petty business for which there is significant local demand. By enrolling under this scheme, applicants get loans without any interest. Through this fund, they can start a new business or expand their existing business.

Objectives of SWAYAM Scheme Odisha?

The SWAYAM scheme Odisha has been launched to empower the youth of the state and encourage them to set up their own businesses. Through this scheme, applicants will be provided with financial assistance of Rs. 95,000 if they meet the scheme’s eligibility criteria.

The initiative also aims to develop employment status within Odisha. Hence, it offers to provide loans at a 0% interest rate so that the young generation can access the funds to start their businesses without the burden of repaying the interest.

Therefore, this scheme also contributes to the state's financial growth by promoting the young generation to become independent, self-sufficient and generate income without being dependent on others.

SWAYAM Scheme Eligibility Criteria in Odisha?

In order to avail of loans under the SWAYAM scheme Odisha, the state government has prescribed the following eligibility criteria:

• The applicant must be a citizen of Odisha.
• The applicant must be between 18 to 35 years of age. When the applicant belongs to the SC, ST or PwD category, the age criteria is 18 to 40 years.
• The applicant’s family must be covered under the Krushak Assistance for Livelihood and Income Augmentation (KALIA) or Biju Swasthya Kalyan Yojana (BSKY) scheme or must have an income of less than Rs. 3 lakh per annum if residing in urban areas and Rs. 2 lakh per annum in rural areas.
• The applicant must have obtained UDYAM registration, or UDYAM assisted registration number.

However, the following applicants are not eligible to obtain the benefits of this scheme:

• The applicant or the applicant’s family is an employee working for the state government, central government, statutory bodies or PSUs.
• The applicant is a defaulter in any bank or financial institution or has an outstanding loan obtained for business from any central or state government scheme.
• Any of the applicant’s family members are already covered under this scheme.

How to Apply for the SWAYAM Scheme?

You can follow the below steps to apply for the SWAYAM scheme:

Step 1: Visit the official website of the SWAYAM scheme of Odisha.

Step 2: Click on the ‘Registration’ option and select ‘Urban’ or ‘Rural’.

Step 3: Fill out the required information on the registration form and complete the registration. 

Step 4: Once the registration is complete, click on the ‘Login’ option on the SWAYAM scheme of Odisha website and select the ‘Applicant’ option.

Step 5: Enter your Aadhaar or mobile number and click on ‘Login’.

Step 6: Fill out the SWAYAM scheme application form and click ‘Submit’. 

Step 7: Upload the copies of the required documents and click ‘Submit’ to complete the application process.

Documents Required for SWAYAM Scheme

All the applicants applying for the SWAYAM scheme need to attach or upload the following documents along with the application form:

• Passport-size photograph of the applicant
• Age proof (Aadhaar card, Voter ID, PAN card, birth certificate or 10th board certificate)
• Residence proof (Aadhaar card, resident certificate issued by the Tehsildar, Voter ID, driving license, electricity bill or ration card)
• Annual income certificate or Biju Health Welfare Yojana card or KALIA Yojana card
• UDYAM registration
• Caste certificate or disability certificate, if applicable

Benefits Of the SWAYAM Scheme

The SWAYAM scheme has numerous benefits for the youth of the state. Some of them have been listed below:

• Eligible youth in Odisha can get an interest-free loan for project costs up to Rs. 1 lakh.
• The applicants will have to pay 5% of the project cost as margin money to the lender. Thus, if the project cost of the business is Rs. 1 lakh, they will get an interest-free loan of Rs.95,000.
• The repayment period of the loans disbursed to the applicants under the scheme is 4 years, which includes a moratorium period varying between 3 to 6 months as per the rules of the respective bank or financial institution.
• Through the loans provided under the SWAYAM scheme to establish business, youth in Odisha can become financially stable.
• The small businesses of the state can develop to be able to provide more employment opportunities to the young generation of Odisha.
• More than 2 lakh youths can benefit financially from the SWAYAM scheme.
• Candidates from both urban and rural sections of the state can apply for the scheme.
• The scheme can be extremely beneficial for the weaker sections of the state to become financially stable and establish their own businesses.

The SWAYAM scheme Odisha has been one of the most beneficial schemes of the state. It has not only helped the youth of the state to become financially stable but also helped them to grow their businesses and help increase employment opportunities within the state. 

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