Mission YUVA: Pioneering Entrepreneurship in Jammu and Kashmir

Mission YUVA aims to foster entrepreneurship in J&K by creating 1.37 lakh enterprises and 4.25 lakh jobs over five years. With over 1.59 lakh registrations and loans worth Rs 756.28 crore sanctioned, the initiative emphasizes structured credit linkage and inclusive growth, particularly for women and youth.

In the past six months, more than 1.59 lakh registrations were made under Mission YUVA, with 44,857 proposals approved and loans totaling Rs 756.28 crore sanctioned in Jammu and Kashmir, officials reported on Sunday. Launched by Chief Minister Omar Abdullah on June 28 last year, the mission is a visionary step to nurture entrepreneurship in the region with the aim of establishing 1.37 lakh enterprises and generating 4.25 lakh jobs within five years.

The structured, multi-tier process has seen 65,353 applications, leading to the approval of 44,857 proposals and the disbursement of funds to 10,329 entrepreneurs. Banks have already sanctioned loans worth Rs 756.28 crore, disbursing Rs 594 crore so far. With an average project cost of Rs 6.59 lakh, the mission prioritizes inclusive, employment-centric enterprises, with over 77 percent of cases having been disbursed.

Implemented by the Labour and Employment Department, Mission YUVA receives support from district administrations, emphasizing structured credit linkage and enterprise sustainability. Baseline surveys identified 5.5 lakh potential entrepreneurs, focusing on youth aged 18-59. The mission's interventions aim to create enterprises across various sectors, promoting self-reliance in alignment with the Prime Minister's vision of 'Viksit Bharat 2047'.

(With inputs from agencies.)