India’s Deen Dayal Upadhyaya Antyodaya Yojana (DAY) aims to uplift the urban and rural poor through skill development and enhancing sustainable livelihood opportunities. DAY helps implement “Make in India” by fostering industry-specific skill training that widens employment and growth opportunities. The Indian government has provided 500 crore INR for DAY. It’s the integration of two existing schemes: the National Urban Livelihoods Mission (NULM) and the National Rural Livelihoods Mission (NRLM).
DAY-NULM Scheme Details – What Is It?
Deen Dayal Antyodaya Yojana – National Urban Livelihoods Mission (DAY-NULM) is an initiative taken by the Ministry of Housing and Urban Poverty Alleviation (HUPA) to help poor households in cities by providing them with financial support for generating self-employment opportunities.
By enabling the poor to generate sustainable income, this scheme helps them improve their living standards. This scheme aims to provide shelters equipped with essential services to the urban homeless and make it easier for street vendors to access financial markets.
It also addresses the livelihood concerns of the urban street vendors by facilitating access to them of institutional credit, suitable spaces, and skills for accessing the market opportunities.
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Know The Required DAY-NULM Guidelines
To ensure that the funds are well-spent and to keep track of progress, each State or Union Territory will send Monthly Progress Reports or Quarterly Progress Reports in prescribed formats. They will also set up a monitoring system for this purpose.
These reports may include details about the work that has been done, issues faced, and problems faced by the Mission Directorate in the Ministry of Housing and Urban Affairs. A detailed set of instructions from the Ministry on how to comply with these guidelines will be issued.
Benefits of DAY-NULM Scheme
- ● The self-help groups under the urban poor category are eligible to avail of bank loans at a 7% rate of interest, in addition to 3% of interest subvention for women SHGs who repay their loan timely. Therefore, in the case of repayment, the effective rate of interest goes down to 4%.
- ● NULM also strives to support the development and credit enablement of micro-enterprises.
- ● Urban poor looking to set up self-employment ventures are eligible to avail bank loans at a 7% interest rate. Moreover, individuals can take bank loans for projects of up to Rs. 2 Lakh. For groups of urban poor, the available limit is Rs. 10 Lakh.
- ● DAY-NULM also provides financial support to Urban Local Bodies and State Governments for the construction, operation, and management of shelter for the urban homeless. The constructed shelters must be equipped with essential services to provide a dignified life to the urban homeless.
Bottom Line
You can easily apply for the DAY-NULM Scheme online by navigating to the official website of Deendayal Antyodaya Yojana-National Urban Livelihoods Mission and filling out the required form with adequate details. It is a great scheme to facilitate proper living standards for the underrepresented communities of India. We hope you find the information shared here helpful in knowing more about the DAY-NULM scheme.
