Current Context : Recently, the Minister of Cooperation informed the Lok Sabha about the Yuva Sahakar Scheme.
About Yuva Sahakar Scheme:
Objective : Encourages cooperative societies with new and innovative ideas, focusing on youth entrepreneurs.
Eligibility:
- Cooperative societies operational for a minimum of 3 months.
- Special incentives for cooperatives in the North-Eastern region, aspirational districts, women-led cooperatives, and those involving Scheduled Caste (SC)and Scheduled Tribe (ST)
Financial Features:
- Provides long-term loans (up to 5 years).
- Includes 2% interest subvention on applicable NCDC loan rates.
- Loans can be combined with subsidies from other Government of India schemes.
- Linked to a ₹1000 crore Cooperative Start-up and Innovation Fund managed by the National Cooperative Development Corporation (NCDC).
Implementation:
- Run by the National Cooperative Development Corporation (NCDC)across India.
- NCDC provides project-based funding tailored to the specific activities of cooperatives.
Mission Alignment:
Part of the Sahakar 22 Mission, which aims to double farmers’ income.