The “Chief Minister’s Self Employment Scheme” was launched by the Department of Personnel, and Reforms, Training, Public Grievances, Government of Sikkim. This scheme aims to support unemployed youth from below the poverty line by providing loans to help them start self-employment ventures in business, service, and industrial activities. The program particularly targets youth who have received training at Constituency-wise Livelihood Schools across the state, regardless of their educational qualifications.
Benefits
- Loan Assistance:
Eligible individuals can receive loans up to ₹3,00,000 per person. - Interest Benefits:
The loan remains interest-free for the first two years, after which a simple interest rate of 6% is applied. - Co-applicant Liability:
In the event of the death of the loan recipient, the co-applicant is responsible for repaying the outstanding principal within one year.
Eligibility
- Unemployment:
The applicant must be unemployed. - Age:
Applicants should be between 22 and 35 years old. - Education:
Applicants must have passed the 10th class. - Income:
The family’s annual income should not exceed ₹2,50,000. - Family Limit:
Only one member per family is eligible for the scheme, except in the case of Below Poverty Line (BPL) families.
Application Process
Offline
- Visit SIDICO:
Interested applicants should visit the Sikkim Industrial Development & Investment Corporation (SIDICO) during office hours and request a hard copy of the prescribed application form from the designated staff. - Fill and Attach Documents:
Complete the application form by filling in all mandatory fields and attaching self-attested copies of all required documents. - Submit Application:
Submit the duly filled and signed form along with the necessary documents to SIDICO. - Obtain Acknowledgment:
Request a receipt or acknowledgment from SIDICO that includes the date, time of submission, and a unique identification number (if applicable).
Documents Required
- Income Certificate (certified by the District Collector).
- Affidavit of Unemployment and No Outstanding Dues.
- Project Feasibility Certification.
Frequently Asked Questions
- Who is eligible for the Chief Minister’s Self Employment Scheme (CMSES)?
The scheme is available for unemployed youth between 22 and 35 years who have passed the 10th class and come from families with an annual income not exceeding ₹2,50,000. - What is the income limit for eligibility under the CMSES?
The annual family income must not exceed ₹2,50,000. - How many members of a family can benefit from the CMSES?
Only one member per family is eligible, except in the case of BPL families. - What is the maximum loan amount that can be sanctioned under CMSES?
Loans of up to ₹3,00,000 per individual are provided. - Is there any processing fee for the loan application?
Please refer to the scheme guidelines for details on processing fees. - What happens in the case of the loanee’s death?
The co-applicant becomes liable to repay the outstanding principal amount within one year. - Which agency is responsible for accepting and disbursing loan applications?
Applications are accepted and processed by the Sikkim Industrial Development & Investment Corporation (SIDICO). - How often are loans disbursed under CMSES?
Loans are disbursed as per the schedule determined by SIDICO. - What criteria are used to assess loan applications?
Eligibility is assessed based on unemployment status, age, education level, family income, and training received through the Constituency-wise Livelihood Schools. - What follow-up actions does SIDICO undertake after disbursing loans?
SIDICO monitors the utilization of funds and conducts follow-up reviews as per the scheme guidelines. - What is the procedure for recovering loans under the CMSES?
Loan recovery is done in equal monthly installments, and in the event of non-repayment, standard recovery procedures and penalties apply.