Keeping in mind the huge unemployed population in the state of Uttar Pradesh, Samajwadi Rozgar Yojana has been developed. The Samajwadi Rozgar Yojana will help develop small traders and generating jobs for the unemployed in the state.
Why Samajwadi Rozgar Yojana
Almost everyone is aware about the state of unemployment in the country despite of people being academically qualified in different skills. In such scenario, most are looking for jobs to make their living while many are looking to start their own business.
Samajwadi Rozgar Yojana is expected to help both job seekers and small traders & developing organizations in a big way. Under the scheme, the government will financial help small traders and organizations grow more and generate jobs for the youth.
Assistance under Samajwadi Rozgar Yojana
Under the scheme, the person who owns Rs. 1 Lakh is eligible to start a business worth Rs. 25 Lakh. The rest of the financial assistance will be provided by the state government. As per scheme, the government would provide 90 per cent of the margin money. Undoubtedly, this is one of the greatest features of the scheme and a reason of joy for those not able to start their own business because of lack of finance.
Sustainability of the scheme
The scheme clearly states that only the person who owns Rs. 1 Lakh is eligible to get a financial assistance of up to Rs. 25 Lakh. But, it may be difficult for the small traders, farmers, craft workers and jobless in rural areas to accumulate Rs. 1 Lakh to be eligible for the scheme. This may be considered a reason why the scheme is not sustainable at a large scale in the state. However, accumulating Rs. 1 Lakh for the residents in urban areas may not be a big thing, hence the scheme shall be more popular there.
Another reason why the scheme may not be so successful in rural areas is the lack of skills, knowledge or experience required to create and successfully run a business.
Scope of Employment Under Samajwadi Rozgar Yojana
Once the scheme is able to successfully develop small enterprises, there are vast chances that jobs will be created at different levels for the unemployed. According to some estimates, if the scheme is able to create 1000 startups each employing 50 people on average, 50000 people will get jobs. It will be a big push to the overall development of the people and the state itself.
However, the scheme is a great initiative of the state Government but to make it successful, people also need skills, knowledge and experience to create and run any kind of business. Finding people with such good skills and knowledge may be difficult may be the reason scheme may need some amendments.
Earlier the project was to be named as Chief Minister Rozgar Yojana but later it was re-christened as Samajwadi Rozgar Yojana giving it a Socialist tinge. It would be part of other Samajwadi schemes like Samajwadi Pension Yojana, Samajwadi Awas Yojana and Samajwadi Ambulance Sewa.