The Congress party, during the assembly elections, unveiled the Youth Fund Scheme as one of its five guarantees. This scheme aims to provide unemployment allowance to graduates and diploma holders in Karnataka.
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Minister Sharan Prakash Patil highlighted the significance of the Youth Fund Scheme. Scheduled to kick off with beneficiary registrations on December 26 at the Vidhana Soudha Banquet Hall, the project aims to empower the youth of Karnataka, particularly young women. Operated through the Department of Industrial Training and Employment under the Department of Skill Development, Entrepreneurship, and Livelihood, the ‘Yuvanidhi’ scheme is poised to benefit a substantial number of beneficiaries.
Source: Krishi Jagran
With an estimated 5,29,153 beneficiaries across the state, the Yuvanidhi Yojana encompasses 4,81,000 graduates and 48,153 diploma holders. A substantial allocation of 250 crores has been earmarked to provide unemployment allowances. Eligible candidates, including state graduates, postgraduates, and diploma holders, stand to receive monthly unemployment allowances through direct cash transfers to their bank accounts. Graduates will receive Rs.3,000, while diploma holders will get Rs.1,500.
To qualify for this allowance, candidates must have pursued their degree or diploma during the academic year 2022-23, with successful completion in 2023. Importantly, candidates should have studied in Karnataka for a minimum of 6 years. This residency requirement aims to ensure that the benefits of the scheme primarily reach those who have a substantial connection to the state.
Source: Bharat PM Yojana
However, certain criteria exclude candidates from availing the benefits. Those employed in government or government-aided organizations, individuals in the private sector, the self-employed, and those continuing their education are not eligible for this unemployment allowance. The scheme is designed to support those who have recently completed their studies and are seeking employment opportunities.
