About 12 lakh youth will now benefit from the Mukhyamantri Yuva Nestham scheme was launched officially on October 2, with Andhra Pradesh Chief Minister N Chandrababu Naidu giving away an allowance of Rs I,000 to the eligible, unemployed youth in the state.

Objective of the Mukhyamantri Yuva Nestham scheme

The scheme, which was a promise made by the Telugu Desam Party in its 2014 election manifesto aims to provide to educated, unemployed youth financial security until they can find a job. Besides giving the disbursement of the monthly allowance, the scheme aims at providing the youngsters with apprenticeship opportunities and skill development. The scheme’s web portal has already received registration from more than 2 lakh unemployed youth, India Today reported.

Reports say that annually Rs 1,200 crore will be spent on the Mukhyamantri Yuva Nestham scheme. Only diploma or degree holders between the age of 22 and 35 are eligible to receive the unemployment allowance, reported Business Today.

Chief Minister distributes unemployment allowance certificates

At the official launch of the scheme around 400 beneficiaries were present from 13 districts. The event hosted top officials from private companies like Kia Motors, Foxconn and Amara Raja, reported The Economic Times. “The chief minister will distribute the unemployment allowance certificates to the beneficiaries tomorrow. He will also interact with the beneficiaries,” a senior state government official had earlier said.

All 175 constituencies will host events at which the local ministers and MLAs will distribute the certificates of unemployment allowance to the beneficiaries. By the first week of each month, the bank account of the beneficiary will be credited with the allowance.

Also Read: Unemployment At An All-Time High With 3.1 Crore Indians Without Job: Report