Good Time To Be Jobless In Andhra: Chandrababu Naidu Launches Monthly Unemployment Allowance SchemeAndhra Pradesh Chief Minister Chandrababu Naidu (Sanjeev Verma/Hindustan Times via Getty Images)

Andhra Pradesh will be launching a monthly unemployment allowance scheme named 'Mukhyamantri Yuva Nestham’, India Today has reported. The monthly allowance for eligible youth will be Rs 1,000. About 12 lakh youths are expected to benefit from this scheme.

This scheme is aimed at providing financial security to educated but unemployed youths. More than 2 lakh youths have already been registered on the concerned portal.

"The Chief Minister will distribute the unemployment allowance certificates to the beneficiaries tomorrow. He will also interact with the beneficiaries," a senior state government official was quoted as saying.

The scheme also aims to provide skill training and apprenticeship opportunities to the youth in addition to the monthly unemployment allowance. The scheme was part of the election manifesto the Telugu Desam Party (TDP) in 2014.

The ‘Mukhyamantri Yuva Nestham’ scheme will cost Rs 1,200 crore to the state government annually. The allowance will be directly deposited into the beneficiaries’ bank account.

Close to 400 beneficiaries will attend the launch event of the scheme from 13 districts of the state. The attendees would also include officials from private sector companies like Kia Motors and Foxconn.

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