Andhra Pradesh YSR Navodayam Scheme 2024 – Online Apply

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The Andhra Pradesh government launched a scheme called YSR Navodaya, the scheme aims to bail out Micro, Small and Medium Enterprises (MSMEs) in the state and provide financial relief to them by restructuring their bank loans before 31,2020.

State Chief Minister YS Jaganmohan Reddy inaugurated the scheme at his camp office in Tadepalli and then held a review meeting.

Under the scheme, around 80,0000 MSMEs in the state will be benefited as their bank loans, which are subject to a limit of Rs 25 crore, will be restructured. They will get more financial support and more time to pay back the loan.

The YSR Navodaya Yojana was aimed at accelerating economic development and growth in the process of industrialization in the state. To increase employment, the AP government is encouraging the youth in the state. Under the scheme, the government provides and provides financial assistance to the state’s tellers, barbers and weavers. The government is also providing specific incentives through this scheme to generate employment.

YSR Navodayam Yojana 2023 – AP Tailors Scheme 2024

The CM announced plans to cover MSMEs, which would employ millions of people. The state government has already released Rs 10 crore for financial assistance to MSMEs under the YSR Navodaya Yojana.
The scheme is applicable to MSMEs who have a maximum of Rs. Have borrowed 25 crores. The government will provide the necessary financial support to renew the accounts under a one-time restructuring. The preparation of audit report will support 50% of the cost of production and a maximum of Rs 2 lakh.

Past financial incentives will be issued to these companies. The subsidy amount of about 3000 crores was not distributed to the industries. The scheme is open till 31 March 2020. The state government will implement the scheme in collaboration with the Reserve Bank of India.

Key points of AP YSR Navodayam Scheme

Scheme Name AP YSR Navodayam Scheme 2024
Introduced by Andra Pradesh Cabinet
Department MSMEs
Cost of Scheme Rs 4000 crore
Type of Scheme State Govt.
Beneficiary Micro, Medium & Small Enterprises
Start Date to Apply 16 october
Official website Updated Soon

Salient features of AP Tailors Scheme

Some of the salient features of the AP Tailors Scheme are given below:

  • The AP Cabinet Committee has decided to allow restructuring of MSMEs of around 4000 crores and a lump sum grant for developing infrastructure.
  • Under the scheme, the government will provide more loans and immediate investment to micro, small and medium enterprises (MSMEs).
  • The state government has fixed a time limit of 9 months to use the funds released under the AP YSR Navodaya Yojana.
  • This YSR Navodaya scheme has been launched with the objective of facilitating the growth and development of the coir industry.
  • On implementing the scheme, the government ensures that MSMEs do not become non-performing assets (NPAs).
  • The state cabinet has also approved the enactment of a new act to promote investment in the state. For this purpose, the AP Investment Promotion and Monitoring Act-2023 draft bill will be brought into effect with the official announcement.
  • The Cabinet Board has also approved the draft bill on the control and supervision of schools and higher education institutions. The main objective is to ensure the implementation of quality standards, fee control and Right to Education (RTE) Act in the field of education.
  • Reservation to SC / ST / BC: The government has decided to give 50% reservation to BC, ST, SC and minority categories in government corporations, boards, societies, trusts and market yards and nominated contracts, service contracts and contracts in the government. Post. It is proposed that 50% reservation will be provided to women on nominated positions. In addition, 50% reservation will be provided to BC, SC, ST sections in temple committees.
  • Free power to SC: The state government has approved to provide free power to SC up to 200 units. For this purpose, the government will spend INR 411 crore for the benefits of Scheduled Castes.
  • Employment for youth: The AP cabinet has approved the Bill regarding employment of unemployed youth. All local unemployed youth will be entitled to 75% jobs in industries in their areas. All those people who lost their land in land acquisition to set up industries will be provided employment opportunities in those industries. The State Cabinet Board has also approved a proposal to provide financial assistance of INR 10000 to weavers, barbers and tailors.

YSR Navodayam scheme eligibility criteria

The following criteria are to be met by enterprises for grant completion:

  • Applicants working as barbers, tailors, weavers and MSME workers are covered under this scheme.
  • The benefit of the scheme will be provided only to the permanent residents of AP.
  • Beneficiaries should belong to below poverty line (BPL) population.
  • To get benefits under this scheme, applicants need a bank account.

YSR Navodayam plan 2023-20 documents required

To apply for this scheme, the eligible beneficiary has to attach the following documents:

  • Identity proof: PAN, Aadhaar, driving license, voter ID card, etc.
  • Address proof: Aadhaar number, legal passport, utility bill, property tax bill, etc.
  • Below poverty line certificate
  • income certificate
  • Bank Account Passbook (first page copy)
  • Any other document (if applicable)

YSR Navodayam Yojana apply online – click on website

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