Shram Shakti Scheme: Check Objectives , Eligibility Criteria , Benefits and Other Important Updates

Shram Shakti Scheme:- The Karnataka Government State Shram Shakti project has been launched to benefit the minority community.

The government will provide loans and skills training at low interest rates (4 to 5 per cent) to members of minority groups so that they can start their own businesses.

This scheme has been issued by the Chief Minister of Karnataka. This scheme was launched in July 2023. Members of minority groups will receive skill training in various departments from the government under this scheme.

Objectives of Shram Shakti Scheme:

  1. The main objective of the Shram Shakti project is to encourage unemployed youth in Karnataka to start their own companies or become entrepreneurs so that they can build their careers and create employment for other youth.
  2. They work, but due to financial problems, they cannot help their families. The Karnataka government has formed the Shram Shakti Scheme to provide financial assistance to job seekers.
  3. Under this scheme, eligible candidates will get a loan of Rs 50,000, which has to be repaid within 36 months. The remaining amount. If the candidate returns half of the grant, then Rs 25,000 will be accepted as a refund grant.

Qualificationof Shram Shakti Scheme:

  1. The applicant’s age limit must be between 18 and 55 years.
  2. The applicant must be a permanent resident of the state.
  3. Applicants must belong to the state religious minority community.
  4. Family income from all sources should be within Rs. 3.50 lakhs per annum.
  5. An applicant or his/her family members have not availed the benefits of any other scheme of KMDCL (except the Arivhu Scheme) in the last 5 years.

Steps to Apply for Shrama Shakti Scheme:

  • First, go to the official websitekmdc.karnataka.gov.in/22/shrama-shakthi/en and fill out the application form.
  • Print the application form.
  • Submit this application form along with other relevant documents to the election panel of your respective district.
  • After approval by the selection panel, the subsidy will be transferred to your bank account.

Documents required for Shrama Shakti Scheme:

  1. Take a printout of the filled online application form.
  2. 2 latest passport-size photographs of the beneficiary
  3. Caste and Income Certificate
  4. Copy of Aadhaar card
  5. Business Project Report
  6. Copy of bank passbook
  7. Self-Declaration Form
  8. Self-declaration form from the guarantor.

Benefits of Shram Shakti Scheme:

  • The Karnataka government has launched the Sharma Shakti Scheme to help minorities in the state start their own companies or pursue entrepreneurial careers.
  • Under the Sharma Shakti scheme, candidates will receive a financial loan of Rs 50,000, repayable within 36 months.
  • Candidates will receive instruction in technical or artistic fields.
  • An additional 4% interest rate will apply to the entire loan.
  • The remaining amount. If the candidate returns half of the donation, then 25,000 taka will be accepted as a returned donation.

Award details of the Shram Shakti Scheme:

  • Financial loan of Tk 50,000, repayable within 36 months.
  • Back-end subsidy of Rs. 25,000 if half the funds are returned.
  • Additional 4% interest on the total loan amount.

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