Students READY (Rural Entrepreneurship Awareness Development Yojana)

The Students READY (Rural Entrepreneurship Awareness Development Yojana) Scheme, initiated by the Government of India, aims to enhance hands-on learning for agricultural students through practical training and skill development. It bridges the gap between academics and industry, preparing students for real-world challenges.

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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 Students READY?

The Student READY (Rural Entrepreneurship Awareness Development Yojana) program is a transformative initiative designed to empower undergraduate students in agriculture and allied sciences. By providing a comprehensive blend of theoretical knowledge and practical experience, the program aims to cultivate a new generation of skilled and entrepreneurial individuals capable of addressing the challenges and opportunities in rural India.

Key Objectives of Student READY (Rural Entrepreneurship Awareness Development Yojana):

  • Skill Development: To equip students with the necessary technical and soft skills to excel in their chosen field.

  • Entrepreneurial Mindset: To foster an entrepreneurial mindset among students, encouraging them to think innovatively and create sustainable businesses.

  • Rural Awareness: To expose students to rural life's realities and the challenges farmers and rural communities face.

  • Practical Experience: To provide hands-on experience through internships, industrial attachments, and fieldwork.

  • Knowledge Acquisition: To enhance students' knowledge of indigenous technical knowledge (ITK) and the latest agricultural practices.

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Core Components of Student READY (Rural Entrepreneurship Awareness Development Yojana):

  1. Experiential Learning with Business Model:

    • Develops entrepreneurial skills and knowledge.

    • Provides opportunities to start and manage businesses.

    • Fosters a "learn while earn" approach.

  2. Hands-on Training (HOT)/ Skill Development Training:

    • Enhances practical skills and technical expertise.

    • Equips students with the tools to address real-world challenges.

  3. Rural Awareness Work Experience (RAWE):

    • Exposes students to rural realities and challenges.

    • Develops empathy and understanding of rural communities.

    • Encourages participation in rural development initiatives.

  4. Internship/In-Plant Training/Industrial Attachment:

    • Provides exposure to industrial settings and corporate culture.

    • Helps students understand the practical applications of their knowledge.

    • Facilitates networking and career opportunities.

  5. Students Projects:

    • Encourages independent research and problem-solving.

    • Develop critical thinking and analytical skills.

    • Promotes innovation and creativity.

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Benefits of the Students READY Scheme

The Students READY (Rural Entrepreneurship Awareness Development Yojana) Scheme offers financial support to students enrolled in the program. Here's how:

  • Stipend: Students receive a monthly stipend of Rs. 3,000 for a maximum of six months. This breaks down to:

    • Rs. 2,500 per month from ICAR (Indian Council of Agricultural Research)

    • Rs. 500 per month from the State government

  • Operational Expenses: Universities receive an additional Rs. 500 per student per month from ICAR to cover program expenses like faculty fees, contingencies, transportation, medicines, etc.

Important Points to Note:

  • The stipend starts from the month a student begins their training (RAWE, internship, etc.).

  • Universities receive the stipend amount in advance as a lump sum.

  • Universities are responsible for transferring the stipend directly into students' bank accounts linked to their Aadhaar (UID) number.

  • Proof of stipend distribution (compiled bank statement) needs to be submitted to ICAR annually.

  • State governments must contribute their share (Rs. 500/month/student) or risk losing ICAR grants.

  • Students receive the stipend monthly, typically at the end of each month.

  • ICAR does not make direct payments to students.

  • Students who leave the course before completion will lose their stipend.

  • Changing disciplines or universities without valid reasons and approval may also lead to stipend termination.

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Eligibility of Students READY (Rural Entrepreneurship Awareness Development Yojana) Scheme 

  • The student must be currently pursuing an undergraduate (UG) program in a recognized agricultural university (SAU), deemed university (DU), Central Agricultural University (CAU), or Central University (CU) under the National Agricultural Research and Education System (NARE).

  • The course of study must be duly accredited by the National Agricultural Education Accreditation Board (NAEAB) of the Indian Council of Agricultural Research (ICAR), New Delhi. 

  1. Academic Performance and Conduct:

    • The student must maintain a good academic record and exemplary conduct as certified by the Head of the College/University/Institution.

    • The student must have a regular attendance record and should not be absent from the program without prior permission from the competent authority.

  2. Non-Participation in Agitations and Employment:

    • The candidate must not participate in any form of agitation or strike.

    • The candidate should not be employed, even part-time, or receive any other form of financial assistance during the program period.

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Application Process for Students READY (Rural Entrepreneurship Awareness Development Yojana) Scheme

    1. Registration

      To participate in the RAWE-SPW program, students must first register at their respective college on the designated date announced by the University, Associate Dean, or Principal. Following college registration, students should report to the assigned RAWE-SPW program coordinator.

    2. Selection of Placement Centers

      The selection of organizations, units, or farmers for the RAWE-SPW program should be completed well in advance by the college principal or their designated representative.

    3. Selection of Villages/Towns

      To ensure effective placement, colleges should select a sufficient number of villages or towns. Each village or town should accommodate approximately five to six students. This selection process should be undertaken well in advance by the college principal or coordinator.

    4. Placement of Students

      After completing the orientation program, students must report to their assigned host farmer. They are required to report to their designated placement center within seven days of registration. Once a student is assigned to a specific placement center, they cannot request a change. Upon successful completion of the RAWE program, students will be transferred to a selected unit for their project work.

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People also read: Government Schemes for Girl Child

Documents Required for Students READY (Rural Entrepreneurship Awareness Development Yojana) Scheme 

  • Demand/Proposal Submission: As per the prescribed format.

  • Utilisation Certificate (UC/AUC): For the previous financial year.

  • Student Details: Provided in the prescribed format.

  • Expenditure Details: College-wise and head-wise in the annexure.

  • Unspent Balance: Must be refunded.

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FAQs

  • What is the stipend offered under the Student Ready Program?

    Students enrolled in the Student Ready Program will receive a stipend of â‚ą3,000.
  • Who is eligible for the Student Ready Program?

    • Students pursuing undergraduate courses in SAUs, DUs, CAU, or CUs under NARES, accredited by the National Agricultural Education Accreditation Board (NAEAB) of ICAR, New Delhi.

    • The student must demonstrate merit and good conduct, certified by the Head of their College/University/Institution. Absence without prior approval from the Competent Authority is not allowed.

    • The candidate must not engage in strikes, protests, part-time jobs, or receive financial aid for the same activities during the program duration.

  • What is the official website for the scheme?

    The official website for the Students READY scheme is https://icar.org.in

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^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.

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