SRINAGAR: Jammu and Kashmir Chief Minister Omar Abdullah on Monday projected Mission YUVA as a potential national model for self-employment, asserting that the Union Territory is working to set a benchmark in entrepreneurship-led development across the country.
Addressing the Yuva Mahotsav–Mission YUVA programme at the Convention Centre in Srinagar, the Chief Minister said the initiative has been designed in “mission mode” to address unemployment, which he described as the most serious socio-economic challenge in Jammu and Kashmir.
He said the government’s objective is to transform youth from job seekers into job creators, stressing that government employment alone cannot resolve the scale of unemployment.
“Instead of only seeking jobs, youth must be enabled to create employment opportunities for others,” he said, adding that entrepreneurship support must be sustained through funding access, marketing assistance, and post-launch handholding.
Omar Abdullah acknowledged the risks associated with starting businesses, including collateral requirements and loan-related challenges, and said even established industrialists face market uncertainties. He underlined that the government’s responsibility extends beyond issuing financial support, and includes continued assistance for growth and expansion.
The Chief Minister also highlighted Jammu and Kashmir Bank’s role in implementing the scheme, saying its support has been crucial in achieving large-scale credit delivery under Mission YUVA.
A major highlight of the event was the single-day disbursal of over Rs 100 crore across 3,003 beneficiary cases, marking a significant expansion of the scheme’s outreach. The administration also announced that cumulative credit under Mission YUVA has crossed Rs 1,000 crore through JK Bank.
On the occasion, a Credit Guarantee Fund for agri-allied activities was launched, along with the digital inauguration of 20 Small Business Development Units (SBDUs).
The Chief Minister said the scheme will be continuously reviewed and improved based on feedback, including from entrepreneurs facing implementation challenges. He also called for linking Mission YUVA with other livelihood initiatives to expand grassroots entrepreneurship.
Deputy Chief Minister Surinder Kumar Choudhary described the initiative as the beginning of a major economic transformation, while Chief Secretary Atal Dulloo assured full government support to young entrepreneurs. JK Bank MD and CEO Amitava Chatterjee said the scheme’s performance was “rare” for a government-backed programme in any State or Union Territory.
The event witnessed participation from ministers, legislators, senior officials, entrepreneurs, and beneficiaries, with outstation stakeholders joining virtually.
