Praising the government schemes for raising two lakh job opportunities, chief minister Omar Abdullah on Wednesday said the target of employment for five lakh youth in five years should be achieved by the departments concerned.
Taking stock of the government's flagship employment generation scheme, Sher-i-Kashmir Employment and Welfare Programme for Youth (SKEWPY), the chief minister praised it for generating jobs for two lakh youth so far.
According to official figures, six lakh unemployed youth are registered with the employment exchange in the state.
A government spokesman said the chief minister took stock of the SKEWPY initiatives under implementation to ensure comprehensive employment generation and welfare of the youth.
"The chief minister expressed satisfaction over the fillip received by seed capital scheme following strict monitoring by the Jammu and Kashmir Bank brass in getting Entrepreneurship Development Institute-sponsored cases cleared on fast track and disbursing the loan component for establishment of industrial units by the youth in a time-bound manner," said the spokesman.
The CM asked the EDI to enhance its target from 1,500 units to 3,000 units this financial year for which government would provide required seed capital to entrepreneurs.
The official spokesman said the chief minister was apprised of the fact that under the Seed Capital Fund scheme, as against 302 units established in 2009-10, the figure last year touched 1,307 as compared to the target of 1,000 units fixed for the fiscal.
The chief minister was also informed that about 15,000 youths have been covered under the Voluntary Service Allowance Scheme (VSA) and more than Rs 50 crore have been paid to them.
Omar Abdullah was told that under the new scheme -- Youth Startup Loan Scheme -- launched under his directions during 2012-13, more than 100 entrepreneurs have been provided Rs 5.4 crore easy loan last year and this year the target of assisting 250 entrepreneurs has been fixed.
"These entrepreneurs will be provided loans worth Rs 20 crore," said the spokesman.