GUWAHATI | Assam Chief Minister Himanta Biswa Sarma on September 17 distributed financial assistance worth more than Rs 278 crore to 82,219 young entrepreneurs under the Chief Minister’s Atmanirbhar Asom Abhijan (CMAAA) 1.0 and 2.0, as the state government continued its push to promote youth entrepreneurship.

Speaking at a financial assistance distribution programme at Jyoti-Bishnu Antarjatik Kala Mandir in Khanapara, Sarma said the initiative was aimed not only at providing financial support but also at helping young people build sustainable businesses and become self-reliant.

Under CMAAA, beneficiaries in the general category receive Rs 2 lakh, comprising a 50 per cent grant and a 50 per cent interest-free loan. Entrepreneurs in the professional category are eligible for Rs 5 lakh under the same funding structure.

CMAAA 1.0 covers 9,552 general-category and 26 professional-category beneficiaries, while CMAAA 2.0 includes 72,447 general-category and 194 professional-category beneficiaries, taking the total number of beneficiaries across the two phases to 82,219.

According to programme details, more than Rs 196 crore is being distributed under CMAAA 1.0, while the allocation under CMAAA 2.0 is stated to be more than Rs 182 crore. Sarma said the government had earlier provided Rs 75,000 during the initial phase and another Rs 25,000 in a subsequent phase to beneficiaries to support their entrepreneurial ventures.

However, not all beneficiaries qualified for further assistance after failing to meet the prescribed requirements. Of around 13,000 beneficiaries, about 9,552 fulfilled the criteria, while nearly 4,000 did not.

The Chief Minister attributed some of the dropouts to beneficiaries taking up jobs instead of continuing with their businesses. He said the government was now seeking to encourage those who had received the earlier Rs 25,000 assistance, along with those receiving Rs 1 lakh, to pursue entrepreneurship more seriously.

The government also plans to motivate beneficiaries receiving smaller amounts to work towards qualifying for higher assistance in the next phase, which Sarma said could be undertaken within the next nine to 10 months.

Along with financial assistance, the programme includes skill development and marketing support for beneficiaries, aimed at helping young entrepreneurs develop and expand their businesses. Industries, Commerce and Public Enterprises Minister Bimal Borah, senior officials and participating entrepreneurs attended the programme.