Budget Allocated at Rs 250 Crore: Karnataka's 'Yuva Nidhi' Set to Launch on January 12
Budget Allocated at Rs 250 Crore: Karnataka's 'Yuva Nidhi' Set to Launch on January 12

Bengaluru: The Karnataka government is poised to kick off registrations for its fifth guarantee, 'Yuva Nidhi,' on December 26, providing unemployment assistance to postgraduates, graduates, and diploma holders who passed in 2023 across the state, announced Minister Sharanaprakash Patil on Thursday.

He specified that Rs 3,000 monthly unemployment assistance would be granted to degree holders and Rs 1,500 to diploma holders. The aid would be provided to those who remain unemployed even after 180 days from the date of passing the degree/diploma, Patil stated, noting that candidates must establish domicile in Karnataka for a minimum of six years. The unemployment allowance will be disbursed for two years from the result announcement date or until the individual secures employment or becomes self-employed, whichever comes first.

The scheme, with a budget allocation of Rs 250 crore, is scheduled for launch on Swami Vivekananda's birth anniversary on January 12, said the Minister for Medical Education and Skill Development, Entrepreneurship, and Livelihood during a press conference. The allocated amount will be directly transferred to the beneficiaries' bank accounts.

Chief Minister Siddaramaiah and Deputy Chief Minister D K Shivakumar will unveil the logo and launch the registration for 'Yuva Nidhi' at the banquet hall of 'Vidhana Soudha' on December 26, Patil informed. Candidates who are self-employed and pursuing higher education will not qualify for the scheme. "This year, Rs 250 crore has been allocated (for the scheme). Next year, we are anticipating around Rs 1,250 crore (expenditure under the scheme), and the year after that will be approximately Rs 2,500 crore," the Minister stated.

Applicants wishing to avail the benefits can apply through the 'Seva Sindhu portal' or via 'Karnataka One,' 'Bengaluru One,' 'Grama One,' and 'Bapuji Seva Kendra.' The enrollment process will be free of cost, he added.

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