Nearly 13,000 youth receive second tranche under Assam’s CMAAA scheme

Guwahati, March 11: The Assam government on Wednesday distributed the second instalment of financial assistance under the Chief Minister’s Atmanirbhar Asom Abhijan (CMAAA) 1.0 to 12,900 young entrepreneurs, providing support ranging between Rs 2 lakh and Rs 5 lakh to help them expand their businesses.

Chief Minister Himanta Biswa Sarma said the second tranche was awarded to those beneficiaries who had effectively utilised the initial financial assistance and demonstrated progress in establishing viable enterprises.

Interacting with the media after the programme, Sarma said the scheme was first launched in September 2023 with the objective of promoting entrepreneurship among the youth of Assam.

“When the scheme was launched in September 2023, financial assistance of Rs 1 lakh each was given to 25,000 young men and women. Those who utilised the amount effectively and showed progress in building their enterprises are now receiving the second instalment of assistance,” he said.

According to the Chief Minister, around 13,000 beneficiaries have qualified for the second instalment after successfully reaching the first milestone of establishing a viable business.

“Out of the 25,000 youths who received the initial grant, nearly 13,000 have been given the second instalment today. The remaining 12,000 beneficiaries have been given an additional 90 days to properly utilise the first instalment and demonstrate progress. Once they meet the criteria, they too will receive the next tranche,” Sarma said.

The second instalment is aimed at enabling entrepreneurs to scale up their ventures and strengthen their financial stability. The government will also facilitate bank linkages for the beneficiaries to ensure easier access to credit.

“We are connecting the beneficiaries who received the second instalment with banks so that they can further expand their businesses. The State government will also bear a portion of the interest on their loans to ease their financial burden,” the Chief Minister added.

Sarma further announced that the government has expanded the programme by bringing an additional 75,000 youth under the scheme this year, significantly increasing the scale of the initiative.

“Our goal is to gradually bring nearly 10 lakh people under this scheme. However, the expansion will depend on the performance and commitment of the beneficiaries. The idea is to encourage genuine entrepreneurs who are ready to work hard and build sustainable enterprises,” he said.

Highlighting the broader vision behind the programme, the Chief Minister said the scheme aims to create job creators rather than job seekers by empowering young people to start their own ventures.

“These young entrepreneurs are driving the spirit of ‘Atmanirbhar Assam’. With the right skills and timely support from the government, they are proving that the sky is the limit,” he said.

The Chief Minister also assured continued support from the State government to help the beneficiaries stabilise and grow their businesses.

“The government will continue to support these young entrepreneurs until they establish themselves firmly. Our objective is to build a strong ecosystem where youth-led enterprises can thrive and contribute to the State’s economic growth,” Sarma said.