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