West Bengal government started Bhavishyat Credit Card Scheme for youth. Under this scheme, 2 lakh youth of the age group 18 to 45 years will be provided financial assistance as loan. Read this article till the end to know Bhavishyat Credit Card as announced in West Bengal Budget 2023-24.  

WB Bhavishyat Credit Card Scheme 2023

In the Bhavishyat Credit Card Scheme, loans upto Rs. 5 lakh would be provided through banks for setting up micro-enterprises and create employment opportunities. The West Bengal state government shall provide subsidy in the form of margin money contribution upto 10% of project cost with a maximum cap of Rs. 25,000. Along with this, govt. will also provide a guarantee coverage of 15%. 
The state govt. has earmarked a sum of Rs. 350 crore for this scheme.

Bhavishyat Credit Card Announcement in West Bengal Budget 2023-24

Finance Minister has announced Bhavishyat Credit Card Scheme in West Bengal Budget 2023-24. While announcing the scheme, Finance Minister said "I am happy to announce a new scheme ‘Bhavishyat Credit Card’ for our youth. Under this Scheme 2 lakh youth of the age group 18-45 years will be provided financial assistance as loan upto Rs. 5 lakh through Banks for setting up micro-enterprises and create employment opportunities. State Government shall provide subsidy in the form of margin money contribution upto 10% of project cost with a maximum cap of Rs. 25,000 and a guarantee coverage of 15%. Rs. 350 crore is earmarked for this scheme".

Overview of Bhavishyat Credit Card Scheme

Name of SchemeBhavishyat Credit Card Scheme
StateWest Bengal
Announced byFinance Minister of West Bengal
Date of Announcement15 February 2023
BeneficiariesYouth in the age group of 18 to 45 years
Age Group18 to 45 years
Number of Beneficiaries2 lakh youth
Loan AmountRs. 5 lakh
AssistanceSubsidy in the form of margin money contribution upto 10% of project cost with a maximum cap of Rs. 25,000
Guarantee Coverage15%
Budget OutlayRs. 350 crore