Yuva Sahakar-Cooperative Enterprise Support and Innovation Scheme

2 min read

News:Yuva Sahakar scheme was launched at the opening ceremony of the first ever ‘India International Cooperatives Trade Fair’.

Facts:

About Yuva Sahakar scheme:

  • The scheme has been formulated by National Cooperative Development Corporation(NCDC).
  • This scheme is launched to promote young entrepreneurs in the cooperatives.
  • This scheme comes under the ‘Ministry of Agriculture and Farmers Welfare’.

Objective:

  • The objective of NCDC Yuva Sahakar Yojana is to motivate and promote the entrepreneurs of India in the Cooperative Enterprise and those individuals working for business. 
  • This is done by providing cheaper loans for initiating startups in the cooperative sectors.

Features of Yuva Sahakar Scheme

  • NCDC has produced a dedicated fund with entitling youth to avail the scheme.
  • The scheme is linked with Rs 1000 crores of the Cooperative Start-up and Innovation Fund that has been authorised by the NCDC.
  • The scheme provides more incentives to the cooperatives working in the North Eastern region and the aspirational districts.
  • Exclusive benefits are also provided for women, Scheduled Caste and Scheduled Tribe candidates.

Additional information:

About NCDC:

  • National Cooperative Development Corporation(NCDC) was established by an Act of Parliament in 1963 as a statutory Corporation under Ministry of Agriculture & Farmers Welfare. 
  • It has many regional centres to provide financial assistance to Cooperatives or Societies or Federations.