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Unemployed youth of J&K on vehicle buying spree under ‘Mumkin’ scheme

Last Updated on November 18, 2021 at 8:08 pm

Hundreds of unemployed youth in Jammu and Kashmir have purchased vehicles with the financial assistance of the UT administration.

The step has been welcomed by many corners as the UT administration is doing its bit to provide work to the unemployed youth who wished to but could not purchase vehicle due to want of funds.

Applicants under Mumkin scheme have the liberty to choose any small commercial vehicle of any approved models of his/her choice. The Mission Youth, J&K provides an amount of Rs 80000/ or 10% of on-road price of the vehicle (whichever is less) as upfront subsidy.

vehicles purchased under Mumkin scheme in J&K

The vehicle manufacturer shall also provide an upfront special discount, not less than the amount of subsidy. The banking partner shall extend the loan facility to the extent of 100% of the on-road price of the vehicle to be purchased without asking for any collateral security.

Additional District Development Commissioner, Udhampur Kanta Devi handed over the keys of newly purchased Load carriers to nine unemployed youth under the scheme.

The AD Employment informed that nine vehicles were distributed to unemployed youth of district Udhampur out of which 2 beneficiaries availed small commercial vehicles of Mahindra and 6 beneficiaries availed small commercial vehicles of Tata and 1 Ashoka Leyland company respectively.

The flagship MUMKIN Scheme under the Mission Youth is an initiative of J&K government to facilitate the youth to establish a sustainable livelihood line in the transport sector by providing them financial assistance for purchase of new small commercial vehicles.