Over 1.59 lakh registrations recorded under Mission YUVA in J-K

Jammu, Jan 4 (PTI) More than 1.59 lakh registrations were recorded under Mission YUVA in the past six months with 44,857 proposals approved and loans worth Rs 756.28 crore sanctioned in Jammu and Kashmir, officials said on Sunday.

On June 28 last year, Chief Minister Omar Abdullah launched the much-anticipated Mission YUVA (Yuva Udyami Vikas Abhiyan), a visionary initiative to foster entrepreneurship in J&K by creating 1.37 lakh enterprises and 4.25 lakh jobs in five years.

“The mission has recorded 1,59,327 registrations, with 65,353 applications submitted so far. Through a structured, multi-tier process, 44,857 proposals were approved, 13,324 cases sanctioned by banks, and 10,329 entrepreneurs have already received disbursements.

“Banks have sanctioned loans worth Rs 756.28 crore, with Rs 594 crore disbursed. An average project cost of Rs 6.59 lakh underscores the mission’s focus on inclusive, employment-intensive enterprises. Notably, over 77 per cent of sanctioned cases have already been disbursed,” an official spokesman said.

Anchored in an evidence-based design, Mission YUVA is being implemented by the Labour and Employment Department with active support from district administrations. It focuses on structured credit linkage, institutional facilitation and sustained hand-holding to ensure enterprise viability.

According to the officials, a baseline survey covering over 24 lakh households and 1.1 crore individuals identified 5.5 lakh potential entrepreneurs across the Union Territory, providing a strong empirical foundation.

Designed for youth in the age group of 18-59 years, Mission YUVA aims to facilitate the creation of 1.37 lakh enterprises through four focused interventions -- creation of Nano Enterprises, establishment of new MSMEs in sunrise and priority sectors, acceleration of existing enterprises, and promotion of neo-innovative enterprises.

Through these integrated interventions, the mission seeks to generate approximately 4.25 lakh employment opportunities over a period of five years.

Guided by the Prime Minister’s vision of 'Viksit Bharat 2047', the officials said Jammu and Kashmir is today scripting a new chapter of self-reliance and entrepreneurship.

By placing special emphasis on first-generation entrepreneurs, women particularly those associated with Self-Help Groups and youth from remote and border areas, the mission has normalised entrepreneurship as a respectable and achievable livelihood option, inspiring young people to become job creators rather than job seekers, the spokesman said.

Anchored in evidence from baseline surveys and secondary research, the introduction of the Nano Enterprise model— tailored to the widely preferred Rs 5-6 lakh investment range-- has provided a credible, low-risk entry point into enterprise creation, firmly advancing the vision of Atmanirbhar Bharat as a lived economic reality across the Union Territory. PTI TAS TAS KVK KVK