Karnataka: Money under Yuva Nidhi Guarantee Scheme for unemployed youth from January 12

Bengaluru: Financial assistance under the Youth Fund Guarantee Scheme for unemployed youth will reach beneficiaries from January 12, 2024, Minister of Medical Education and Skill Development, Entrepreneurship and Livelihood Sharan Prakash Patil said here on Thursday. This scheme will be launched on 26 December this year.

With the Youth Fund, the state government will have implemented the five guarantees made before the assembly elections. Under the scheme, graduates and postgraduates will get financial assistance of Rs 3,000 and diploma holders will get Rs 1,500.

According to a survey conducted by the higher education department, 5.29 lakh graduates and diploma holders will pass out in 2022-23. To be eligible for the scheme the individual must have studied in the state for at least six years and must have passed out in 2022-23. However, this is not applicable to those who are employed, self-employed or pursuing higher education, Patil said.

unemployment situation
Eligible candidates can apply by registering on SevaSindhu portal. They can also apply at Karnatakavan, Bapuji Seva Kendra and Gramvan centres. Candidates have to declare their unemployment status on Seva Sindhu portal before 25th of every month.

Patil said that the government may have to spend Rs 250 crore this year and Rs 1,250 crore next year for this scheme.

Beneficiaries will receive funds through Direct Benefit Transfer (DBT) every month based on monthly self-declaration. “100 per cent physical verification is not possible, but we will do random verification. “We have to trust our youth,” he said.

He warned that if a large number of frauds are detected, the government will consider it a criminal offense and take strict action. “But we haven’t thought about it yet. He said, “We are going to ESI, P