Is there any application fee for the Ladla Bhai Yojana?

There is no application fee for applying to the Ladla Bhai Yojana Maharashtra.

What are the benefits of the Ladla Bhai Yojana?

The scheme offers financial assistance, skill development programs, and other resources to help unemployed youth find job opportunities or start their own businesses.

Can I apply if I am already employed but looking for better opportunities?

The Ladla Bhai Yojana primarily targets unemployed youth. If you are currently employed but seeking better opportunities, you might not be eligible for this scheme.

Where can I get more information about the Ladla Bhai Yojana?

For more details, you can visit the official website of the MH Ladla Bhai Yojana or contact their helpline for assistance.

Ladla Bhai Yojana Maharashtra Scheme

Launched on 17th July 2024 by the Maharashtra government, the Ladla Bhai Yojana Maharashtra is an initiative to empower the state's unemployed youth. This scheme seeks to provide financial assistance, skill development opportunities, and resources specifically for boys to secure employment. By addressing the challenges of unemployment and underemployment, the Ladla Bhai Yojana aims to uplift the socio-economic status of the youth and build a more prosperous future for the state.

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Benefits of Investing In Child Plan

Waiver of Premium Benefit

Future Premiums are paid by the insurer upon death of policyholder

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Your premiums help your child achieve their dreams through lump sum or regular payouts

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Tax Benefits^

You get tax benefits under Section 80(C) and no tax on returns under Section 10 (10D)

Investment Flexibility

It offers the flexibility to invest at regular intervals or as a one-time contribution

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Disclaimer: #The investment risk in the portfolio is borne by the policyholder. Life insurance is available in this product. The maturity amount of Rs 1 Cr. is for a 30 year old healthy individual investing Rs 10,000/- per month for 30 years, with assumed rates of returns @ 8% p.a. that is not guaranteed and is not the upper or lower limits as the value of your policy depends on a number of factors including future investment performance. In Unit Linked Insurance Plans, the investment risk in the investment portfolio is borne by the policyholder and the returns are not guaranteed. Maturity Value: ₹1,05,02,174 @ CAGR 8%; ₹50,45,591 @ CAGR 4%. *Tax benefits and savings are subject to changes in tax laws. All plans listed here are of insurance companies’ funds.

What is Ladla Bhai Yojana?

Ladla Bhai Yojana is an initiative by the Maharashtra government launched on 17th July 2024 and is designed to provide financial assistance to male students who have completed their 12th grade. Chief Minister Eknath Shinde announced the scheme in Pandharpur, stating that under the Ladla Bhai Yojana Scheme, boys who have completed their 12th grade will receive Rs 6,000 per month. Moreover, male students holding a diploma will receive Rs 8,000 per month, and those who have completed their graduation will be given Rs 10,000 monthly.

The Ladla Bhai Yojana is expected to provide much-needed financial relief to young individuals, helping them in their education and career pursuits. This initiative shows the government's commitment to the welfare and development of the youth in Maharashtra.

Highlights of Ladla Bhai Yojana Maharashtra Scheme

Name of Yojana	Ladla Bhai Yojana
Also Known as	Majhi Ladka Bhau Yojana
Launched By	Government of Maharashtra
Announced By	CM Eknath Shinde
Ladla Bhai Yojana Maharashtra Scheme Launch Date	17th July 2024
Apply Mode	Online
Registration Starting Date	Open Now

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What is the Eligibility Criteria for Ladla Bhai Yojana?

Below is the eligibility criteria for Ladla Bhai Yojana scheme:

Male students:

Students who have completed 12th grade are eligible for a monthly stipend of Rs. 6,000.
Diploma holders qualify for a monthly stipend of Rs 8,000.
Graduates are entitled to a monthly stipend of Rs 10,000.

Age Groups:

Eligible participants must be between the ages of 18 and 35, ensuring that the scheme reaches a specific demographic.

Benefits of the Ladla Bhai Yojana Maharashtra

Below are the benefits of the Ladla Bhai Yojana Scheme:

Unemployment Solution: This scheme is introduced as a solution to deal with unemployment.
Financial Support: Male students, diploma holders, and graduates receive a monthly stipend to overcome financial constraints.
Education and Career Development: The stipend helps students to pursue further studies or career advancements.
Skill Development: The scheme aligns skill development with industry requirements, increasing employability.
Apprenticeships: Youth are given opportunities for apprenticeships in factories, gaining practical experience.
Government Support: The government provides financial aid to support apprenticeships.

How to Apply for the Ladla Bhai Yojana Maharashtra Scheme?

Visit the official website of the MH Ladla Bhai Yojana.
Click the “Apply Here” option on the home screen.
Enter your Name, Aadhaar Number, Age, Address, etc. on the form available on the screen
Upload the required documents.
Click the Submit button at the bottom of the form.
Your registration will be successfully completed.
You will receive your Username and Password for login via email.

Documents Required to Open Ladla Bhai Yojana Maharashtra Account

PAN Card
Aadhaar Card
Passport Size Photo
Educational Qualification Certificate
Domicile Certificate
Caste Certificate
Income Certificate

People also read: Government Schemes for Girl Child

Unique Triple Benefit

Future premiums paid by insurer on parent's death

Monthly income to fund child's education on parent's death

Lumpsum payout to family on parent's death

Returns

Return as of Apr 2024
12%-15%
8.2%
7.1%

Availability

Availability
Girl Child or Boy Child
Girl child only
Girl Child or Boy Child

Max Entry Age
Upto 18 years
Upto 10 years
No Age Limit

Flexibility

Invested Amount can be Withdrawn after
5 years
21 years
15 years

Conditions for Premature closure
Anytime after 5years
Extreme Compassionate Grounds
Serious Ailments or for education

Penalty on Premature Closure
No Penalty after 5 years
Returns reduced to Post Office Savings rate
1% reduction in interest rate

Max deposit amount in an year
No Limit
1.5 Lacs
1.5 Lacs

Documentation

Documentation Required for Withdrawal
Low
High
Low

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Conclusion

The Ladla Bhai Yojana in Maharashtra is a significant initiative aimed at supporting unemployed male youth by providing them with opportunities for employment and skill development. By following the straightforward online application process, eligible males can easily apply and take advantage of the benefits offered by this scheme. This program not only empowers them but also contributes to the overall economic growth and development of the state.

FAQ's

Is there any application fee for the Ladla Bhai Yojana?

There is no application fee for applying to the Ladla Bhai Yojana Maharashtra.
What are the benefits of the Ladla Bhai Yojana?

The scheme offers financial assistance, skill development programs, and other resources to help unemployed youth find job opportunities or start their own businesses.
Can I apply if I am already employed but looking for better opportunities?

The Ladla Bhai Yojana primarily targets unemployed youth. If you are currently employed but seeking better opportunities, you might not be eligible for this scheme.
Where can I get more information about the Ladla Bhai Yojana?

For more details, you can visit the official website of the MH Ladla Bhai Yojana or contact their helpline for assistance.

†Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. The sorting is based on past 10 years’ fund performance (Fund Data Source: Value Research). For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
*All savings are provided by the insurer as per the IRDAI approved insurance plan.
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
#The investment risk in the portfolio is borne by the policyholder. Life insurance is available in this product. The maturity amount of Rs 1 Cr. is for a 30 year old healthy individual investing Rs 10,000/- per month for 30 years, with assumed rates of returns @ 8% p.a. that is not guaranteed and is not the upper or lower limits as the value of your policy depends on a number of factors including future investment performance. In Unit Linked Insurance Plans, the investment risk in the investment portfolio is borne by the policyholder and the returns are not guaranteed. Maturity Value: ₹1,05,02,174 @ CARG 8%; ₹50,45,591 @ CAGR 4%
+Returns Since Inception of LIC Growth Fund
¶Long-term capital gains (LTCG) tax (12.5%) is exempted on annual premiums up to 2.5 lacs.
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^^The information relating to mutual funds presented in this article is for educational purpose only and is not meant for sale. Investment is subject to market risks and the risk is borne by the investor. Please consult your financial advisor before planning your investments.