By: Ibni Maqbool
Srinagar: As many as 565 cases have been approved under the Mission Youth’s Mumkin scheme since its roll-out.
Documents in possession of The Precious Kashmir lay bare that out of 908 cases received by J&K Bank under the self-employment scheme unveiled by administration of Union Territory , 565 cases have been sanctioned and 147 are under process.
Under the Mumkin Scheme, the UT administration facilitates the youth to establish a sustainable livelihood line in transport sector by providing financial assistance for purchase of new small commercial vehicles.
According to progress report card of the scheme, as on September 4, 2021, J&K Bank has sanctioned 565 cases (Rs 38. 4 crore) and disbursed loan to 410 cases (Rs 26.91 crore).
It states that 147 cases are under progress while 197 have been returned.
The cases have been returned for different reasons including that the applicants had availed business loan or had shown delinquency in paying previous loans or had availed subsidy benefits under central government /state government sponsored schemes.
The Mission Youth is an ambitious initiative of J&K administration to provide a vibrant medium for youth engagement and empowerment in J&K. In 2021-22 budget of J&K, Rs 200 crore were kept for upliftment and employment of the youth through the Mission Youth. The programme envisages reaching and engaging over 64 lakh youth of J&K within next five years enabling them to be a propelling force in socio- economic transformation of UT.
