In a significant stride towards youth empowerment, Deputy Commissioner (DC) Baramulla, Dr Syed Sehrish Asgar today distributed subsidized small commercial vehicles to 15 beneficiaries under the ‘Mumkin’ youth livelihood program.
The initiative, aimed at uplifting and providing sustainable livelihood to the youth of Jammu and Kashmir, offers a 20 percent subsidy on the on-road price of small commercial vehicles. The program is jointly funded by the Government of Jammu and Kashmir, banking partners facilitating loans, and vehicle manufacturers contributing upfront special discounts.
Speaking on the occasion, DC highlighted the comprehensive support structure, stating that banking partners would extend loan facilities covering 100 percent of the on-road price. Additionally, Mission Youth is set to provide 10 percent of the on-road price or the equivalent upfront subsidy, whichever is lesser.Dr. Sehrish further urged unemployed youth of the district to actively participate and avail the benefits of such kind of government run welfare schemes for their personal growth and empowerment.
The ‘Mumkin’ initiative, a cornerstone of the UT administration's youth livelihood program, has witnessed the distribution of 141 vehicles in the Baramulla district to date. This strategic collaboration underscores the commitment to fostering entrepreneurship and economic self-sufficiency among the region's youth.