Recently, the Minister of Cooperation informed the Lok Sabha about the Yuva Sahakar Scheme.

About Yuva Sahakar Scheme

• Nodal Ministry: Ministry of Agriculture and Farmers Welfare.
• Implementing Agency: National Cooperative Development Corporation (NCDC), Ministry of Cooperation
• Aim: To promote the formation of new cooperative societies and encourage innovative ideas from young entrepreneurs.

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Key Features

• Loan Tenure: The loan provided under the scheme is a long-term loan (up to 5 years) and as an incentive.
• Interest Subvention: NCDC provides 2% interest subvention on its applicable rate of interest on term loan for the project activities
• Subsidy Integration:  Loans can be combined with subsidies available under other GOI schemes.
• Incentivisation: Provides more incentives to the cooperatives working in the North-Eastern region and the aspirational districts.
• Funding: The scheme will be linked to Rs 1000 crore ‘Cooperative Start-up and Innovation Fund (CSIF)’ created by the NCDC.
• • The funding for the project will be up to 80% of the project cost for these special categories as against 70% for others.