The Karnataka government has launched the Congress party's fifth 'guarantee,' offering a monthly stipend of Rs 3,000 to graduates and Rs 1,500 to diploma holders. Karnataka Chief Minister Siddaramaiah symbolically handed cheques to six beneficiaries to kickstart the "Yuva Nidhi" scheme. This initiative is intended for graduates and diploma holders who completed their education in the academic year 2022-23 and remained unemployed even after 180 days of finishing their studies.
The stipend will last two years and cease once the beneficiary secures employment. Individuals currently enrolled in higher education or pursuing further studies are not eligible for this scheme. Addressing the public, the chief minister stated, "Many people were questioning why the 'Yuva Nidhi' scheme has not started yet. Now we have kept our word." He emphasized that the scheme was launched in response to the increasing unemployment in the country.
These guarantees are being implemented under a universal basic income principle, similar to those in European countries. The chief minister believed that societal equality can only be achieved when everyone becomes a part of the mainstream. "Unemployment is on the rise. It was 5.5 per cent in 2014-15 and has now increased to 10.5 per cent. Youths are worried about their future. Shouldn't we have a scheme like Yuva Nidhi? We must. That's why our party, our government, started this program," Siddaramaiah pointed out.