The State government will pass orders on Thursday sanctioning Rs.100 crore to guarantee employment for 10,000 youths aspiring to start their own manufacturing units or commercial and service enterprises.
Presiding over the valedictory of ‘Be an entrepreneur' organised by the government's Entrepreneurship Development Institute and Tamil Nadu Adi Dravidar Housing and Development Corporation, Minister for Rural Industries and Animal Husbandry Pongalur N. Palanisamy said the unemployed youth could avail of bank loan up to Rs.5 lakh with a subsidy component of 15 per cent. New enterprises set up under the Unemployed Youth Employment Guarantee Scheme could also avail of a 20 per cent power subsidy and exemption from VAT for the first six years.
Mr. Palanisamy and Adi Dravidar Welfare Minister A. Tamilarasi presented awards to the teams that came up with the best business models after a month-long programme.
Earlier, Deputy Chief Minister M.K. Stalin distributed certificates to the participants and reaffirmed the State government's commitment for providing entrepreneurial development programmes to the youth. Sweet-e, a project to tap honey employing 5,000 rural households, bagged the award for the best business model.
