Karnataka: Chief Minister Siddaramaiah starts registration of fifth electoral guarantee ‘Youth Fund’

Karnataka Chief Minister Siddaramaiah on Tuesday launched the registration of the fifth and last electoral guarantee ‘Youth Fund’ offering unemployment assistance to graduates and diploma holders here.

The distribution of the scheme will start from January 12, 2024, which is the birth anniversary of Swami Vivekananda.

The scheme provides monetary assistance of Rs 3,000 to graduates passing out in the academic year 2022-23 and Rs 1,500 to diploma holders.

Officials said the money will be given to those who do not get a job even after completion of 180 days from the date of passing degree/diploma. He said that candidates will have to prove their domicile of Karnataka for at least six years. ,

Unemployment allowance will be given for a period of two years from the date of declaration of result or till he/she becomes employed/self-employed, whichever is earlier.

The amount will be transferred directly to the bank account of the beneficiaries.

Candidates who are self-employed and pursuing higher education are excluded from the scheme.

According to Skill Development and Entrepreneurship Minister Sharanprakash Patil, Rs 250 crore has been allocated for the scheme this year. It is estimated that an expenditure of Rs 1,250 crore will be incurred next year and around Rs 2,500 crore may be incurred on the state the year after that.

Those who want to avail the benefits can apply by logging into ‘Seva Sindhu Portal’ or through ‘Karnataka One’, ‘Bengaluru One’, ‘Gram One’ and ‘Bapuji Seva Kendra’.

He told that enrollment will be free.