CMAAA 2.0 Launched To Develop Entrepreneurial Zeal In Assam Youth

Laying down extensive plans for developing the entrepreneurial zeal of young men and women in Assam, Himanta Biswa Sarma on Friday launched the second edition of the Chief Minister's Atmanirbhar Asom Abhijan (CMAAA).

Beneficiaries under the CMAAA 2.0 scheme will receive financial incentives from the state government. Sarma said that the scheme's success will be measured by the number of beneficiaries becoming eligible to avail loans under the 'Pradhan Mantri Mudra Yojana'.

The CMAAA 2.0 follows the success of the first edition and aims to benefit one lakh youths in Assam. Speaking on the occasion, the Chief Minister said, "The first aim is that the funds we are providing today enable the recipients to start some form of business. However, the focus should be that, in the next phase, we should be able to transition to becoming beneficiaries of the Pradhan Mantri Mudra Yojana. Under the PMMY, banks offer loans of up to Rs 20 lakh to young men and women without requiring any mortgage. Once we establish good financial dealings with the bank using this initial Rs 2 lakhs and maintain proper accounting, we can naturally move towards availing the PMMY."

He said, "The overall success of this scheme will be evaluated after three years by measuring how many out of one lakh youths were able to take loans under the PMMY. If they become eligible for the Mudra loans in the subsequent phase, we will know that this scheme has been successful. There, we have also introduced a new system alongside this scheme, which includes a fellowship program. We will involve 200-250 young men and women in this program, but it will not be a job. Instead, they will have the opportunity to receive training in entrepreneurship."

"In collaboration with Gauhati University, upon completion of one year in the scheme, they will be awarded a Post Graduate Diploma in New Venture Development and Management from the university. After working for a year, their fellowship will conclude and we will bring new fellows ensuring that we can run a fellowship program on entrepreneurship every year."

"During the fellowship, we will provide them with a small scholarship, and it will be their responsibility to monitor the entrepreneurs they have been trained under. Each fellow will be associated with 100 entrepreneurs, visiting them, observing their progress, and ranking them on a portal. Those entrepreneurs who achieve the desired ranking will become for the next phase of funding."

"However, for those who misuse the initial Rs 1 lakh, perhaps by buying mobile phones or failing to take entrepreneurial action, their funds will be exhausted without progress. Meanwhile, those we continuously monitor and see transforming into successful entrepreneurs supported by interactions with our fellows, will be encouraged to move forward. We will regularly conduct online classes for these entrepreneurs and they can choose to participate in the classes on management and starting new businesses."

"The entire group of one lakh youths will also be involved in online training in order to continuously develop their business and management skills. Those who obediently attend the classes and use their funds wisely will become eligible for the next phase of funding. Not everyone will receive the next round of funding, only those who are deserving will be prioritized," Sarma concluded.

Notably, registration for CMAAA 2.0 are open until November 18. Applicants from the five constituencies heading to by-polls will be able to apply for it after the end of the Model Code of Conduct (MCC).

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