The Gujarat government has extended subsidy assistance totaling more than Rs 1,243 crore to over 1.42 lakh beneficiaries through the ‘Shri Vajpayee Bankable Yojana’ between 2021 and 2025. Specifically, during the financial year 2025-26, the scheme provided Rs 466 crore in subsidy assistance to 47,462 beneficiaries. The initiative aims to foster self-employment among unemployed youth in both urban and rural areas by offering bank-linked loans and government subsidies.
The scheme supports young entrepreneurs venturing into businesses across industrial, service, and trade sectors. Notably, the maximum loan limit under the scheme has been raised from Rs eight lakh to Rs 25 lakh starting from the financial year 2025-26. Under the revised provisions, beneficiaries from the General category can receive subsidy assistance of up to Rs 3.75 lakh, while Scheduled Caste, Scheduled Tribe, and Divyang beneficiaries are eligible for up to Rs five lakh in subsidy support.
Officials have highlighted that the subsidy assistance provided under the scheme varies from 25 to 40 per cent in rural areas and from 20 to 30 per cent in urban areas, depending on the beneficiary category. The state government emphasized that the scheme is empowering numerous families to achieve financial self-reliance, aligning with Prime Minister Narendra Modi’s vision of “Viksit Bharat” and “Atmanirbhar Bharat.”
The ‘Shri Vajpayee Bankable Yojana’ is overseen by the Khadi, Cottage, and Rural Industries Department of the state, led by Minister Naresh Patel and Minister of State Swarokpji Thakor. Interested individuals can apply for the scheme online through the official portal. Upon loan approval by banks, the subsidy amount is directly credited to the beneficiaries’ bank accounts. The scheme is open to Gujarat residents aged between 18 and 65 years, with various eligibility criteria including educational qualifications and business-related experience.
