Itanagar: Arunachal Pradesh Chief Minister Pema Khandu on Friday announced the launch of the Chief Minister Soft Loan Scheme (CMSLS), a new initiative aimed at empowering technically skilled youth to become entrepreneurs and move towards self-reliance.
Implemented by the Department of Skill Development and Entrepreneurship, the scheme is open to candidates who have graduated from Industrial Training Institutes (ITIs) in the past three years, starting from 2022.
Under the CMSLS, eligible ITI pass-outs can avail themselves of soft loans in two phases — up to Rs 1 lakh in the first tranche and up to Rs 2 lakh in the second.
Beneficiaries will also receive a toolkit incentive of Rs 15,000. To further ease the financial load, the scheme offers a 25% loan subsidy and a 7% interest subsidy.
“When we invest in skills, entrepreneurship, and our youth, we invest in the future of this land,” Khandu said.
He emphasized that the government’s vision is to turn skilled youth into job creators rather than job seekers, aligning with the goal of building an Atmanirbhar Arunachal.
Highlighting that the initiative goes beyond financial assistance, Khandu said the scheme aims to equip young people to transform their technical know-how into sustainable businesses, thereby strengthening the local economy.
Applications for the CMSLS can be downloaded from the state’s official skill development portal. Completed forms, along with supporting documents, must be submitted to the principals of respective ITIs by December 31.
Officials said the scheme is designed to promote small-scale entrepreneurship in sectors such as electrical works, welding, carpentry, automobile repair, tailoring, and other trades where ITI graduates already possess practical experience.
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They added that it will complement national initiatives like the Pradhan Mantri Kaushal Vikas Yojana and Start-up India Mission, further bolstering the state’s skill development and entrepreneurship ecosystem.
