YSR Navodayam objective is to full fill the needs of micro, small and medium enterprises (MSMEs) in the Andhra Pradesh State by providing financial relief by restructuring their bank loans before March 31, 2020. About 80,0000 MSMEs will be benefited through this scheme as their bank loans, that are subject to a ceiling of Rs 25 crores, would be restructured. The Small, micro and medium enterprises will get more financial support and more time to pay back the loan. YSR Navodayam Scheme boosts the process of industrialization in the State.
By the implementation of YSR Navodayam Scheme there will be an enhancement in the employment opportunities for the youngsters of the State. Also the Government provides financial assistance to the Tailors, Barbers and Weavers of the State. The AP Government is hoping that the MSMEs would provide huge employment opportunities.
YSR Navodayam Schem is applicable to those MSMEs who have borrowed up to a maximum of Rs. 25 crores. The financial assistance needed to renew accounts under one-time restructuring will be provided by Government of Andhra Pradesh. The audit report preparation will support 50% of the cost of production and a maximum of Rs.2 Lakh.
AP YSR Navodayam Scheme Details
|Scheme Name||AP YSR Navodayam Scheme 2020|
|Introduced by||Andra Pradesh Cabinet|
|Cost of Scheme||Rs 4000 crore|
|Type of Scheme||AP Government Scheme|
|Beneficiary||Micro, Medium & Small Enterprises|
|Start Date to Apply||Available Soon|
Benefits of YSR Navodayam Scheme
- An One-time grant for the restructuring and developing infrastructure of MSMEs of around Rs.4000 crores is approved in cabinet committee.
- The Scheme provides huge credit and immediate investment to the Micro, Small and Medium Enterprises.
- AP YSR Navodayam Scheme funds must be utilized in the fixed time frame of 9 months.
- The main objective of the scheme is to facilitate the growth and development of the Coir Industry.
- The AP Government ensures that the MSMEs does not become Non-Performing Assets (NPA) by the implementation of the scheme.
- The AP Investment Promotion and Monitoring Act-2019 Draft Bill will be put into effect to promote investments in the state by official proclamation.
- It also provides the quality standards in the education fields, fees control and implementation of Right to Education (RTE) Act under the supervision of schools and higher education institutions.
- It provides 50% of reservation to the BC, ST, SC and Minority categories in the Government corporations, boards, societies, trusts and market yards and in the Government nominated contracts, service contracts and nominated posts.
- It is proposed that 50% reservation to women in nominated posts will be provided.
- Also it provides 50% reservation to BC, SC, ST classes in the temple committees.
- It also provides free electricity to the SCs up to 200 units and the Government is going to spend Rs.411 crore for the benefits of SCs.
- The local unemployed youth will get 75% of jobs in the industries in their areas.
- Those people who lost their lands in land acquisition to set up industries will get the employment opportunities in those industries.
- The state cabinet board has also approved to provide Rs.10,000/- as financial aid to weavers, barbers and tailors.
Eligibility for YSR Navodayam
- The permanent residents of the state can only apply for the scheme.
- Barbers, Tailors, Weavers are also covered as MSMEs workers to avail for the benefits of the scheme.
- Applicants must belong to the Below Poverty Line (BPL) category.
- The applicant should have a active bank account.
Required Documents for YSR Navodayam Scheme
- Identity Proof (PAN, Aadhaar, Driving License, Voter Identity Card, etc.)
- Address Proof (Aadhar Number, legal Passport, Utility bill, Property tax bill, etc.)
- BPL Certificate
- Income Certificate
- Documents to ensure that the applicant comes under MSMEs
- Bank Account details
How to Apply for YSR Navodayam Scheme
- Go to the official portal by following the link bcwelfare.apcfss.in
- Click on the link apply online for Financial Assistance to Washerman, Barbers and Tailors.
- Enter your Aadhaar Card Number and click on Continue.
- you will receive OTP to your registered mobile number, Enter OTP and Submit it.
- Fill up the Registration form will your particulars of Ration Card Number, Mee Seva Integrated Certificate No., Address, Mobile Number, Bank Account Details, Beneficiary Details activity etc.
- Applicant must upload a recent passport size photograph.
- Click on submit button and save the details for further reference.
YSR Navodayam Scheme Status Check
The AP YSR Navodayam Scheme for MSMEs also includes Washerman, Barbers and Tailors. The Applicants after making Registration to the scheme can check for the Beneficiary list and also check for the status of your application. The official portal includes the link to check for your application details by providing your details. We will update you each and every bit of information related to the YSR Novodayam scheme through this article.
Micro, small and medium enterprises (MSMEs) in the Andhra Pradesh State will be beneficiaries of YSR Navodayam scheme.
The Small, micro and medium enterprises will get more financial support and more time to pay back the loan. YSR Navodayam Scheme boosts the process of industrialization in the State.
Can a Tailor avail for the benefits of the scheme?
Yes. Barbers, Tailors, Weavers are also covered as MSMEs workers to avail for the benefits of the scheme.