Assam Government to Launch Financial Aid Scheme for Youth Entrepreneurship
New Initiative to Boost Local Businesses
The site in Umrangso where JK Lakshmi Cement will set up its proposed cement plant. (Photo: Meta)
On October 30, the Assam government announced plans to introduce a new initiative under the Chief Minister’s Atmanirbhar Asom Abhijan (CMAAA). This scheme aims to provide financial support of Rs 2 lakh to 500 young individuals from Dima Hasao and Umrangso, encouraging them to start small businesses and enhance industrial activities in their areas.
During the foundation stone laying ceremony for JK Lakshmi Cement's new factory in Umrangso, Chief Minister Himanta Biswa Sarma revealed that the initiative would benefit 250 youths from each region.
“Through CMAAA, we will allocate Rs 2 lakh annually to 250 youths from both Dima Hasao and Umrangso to help them establish small enterprises such as canteens and shops, and facilitate transportation of raw materials,” stated the Chief Minister.
The new JK Lakshmi Cement facility is projected to produce one million tonnes of cement, with the company targeting an investment of Rs 11,000 crore across Umrangso and Hojai, aiming for a total production capacity of six million tonnes, according to Sarma.
Expressing gratitude to the company for its investment, the Chief Minister noted that Assam has historically faced challenges in attracting industries, partly due to land rights issues. He emphasized the importance of industrial growth for job creation and reducing youth migration to other states.
“The government cannot provide jobs for everyone, which is why many Assamese youth have sought employment in states like Andhra Pradesh and Telangana,” he remarked.
Reflecting on the Covid-19 pandemic, when he served as the state's health minister, Sarma mentioned that a portal was launched to help Assamese workers outside the state return home. Within four days, 12 lakh youths registered, and he estimated that the number could have reached 20 lakh if the portal had remained open longer.
This experience led the government to prioritize industrial development in Assam, aiming to create job opportunities locally. Sarma also highlighted the need for a scheme to repatriate the remains of Assamese workers who pass away outside the state while earning low wages.
Stressing the importance of local communities benefiting from industrial growth, the Chief Minister announced that 60% of the royalties from limestone industries would be allocated directly to the Dima Hasao Autonomous Council (DHAC).
“In the next five years, the Dima Hasao Autonomous Council is set to become the wealthiest council,” he predicted, citing upcoming investments from companies like Adani Cement, Ambuja Cement, Dalmia, Star Cement, JK Lakshmi, and Jindal.
Sarma expressed confidence that these investments would lead to financial self-sufficiency for the council, while assuring continued government support.
He added that the cement industry would create thousands of jobs and opportunities in related sectors, such as ready-mix concrete (RMC) and block manufacturing.
Additionally, corporate social responsibility initiatives focusing on education, women's empowerment, and student scholarships would further benefit the local community.