Mukhya Mantri Yuva Udyami Yojana
About this Scheme
The scheme “Mukhya Mantri Yuva Udyami Yojana” was launched on 1st August 2014 by the Department of Micro, Small & Medium Enterprises, Government of Madhya Pradesh. The scheme provides loans to the citizens of Madhya Pradesh who want to set up their industries.
About This Scheme
The scheme “Mukhya Mantri Yuva Udyami Yojana” was launched on 1st August 2014 by the Department of Micro, Small & Medium Enterprises, Government of Madhya Pradesh. The scheme provides loans of up to βΉ10,00,000 to βΉ2,00,00,000 to the citizens of Madhya Pradesh who want to set up their industries.
Benefits
Financial assistance:
Margin money assistance
15% of the capital cost of the project for the general category. (Maximum βΉ 12,00,000.)
20% of the capital cost of the project for BPL (Maximum βΉ 18,00,000)
Interest subsidy
At the rate of 5% per annum on the capital cost of the project and at the rate of 6% per annum for women entrepreneurs, for a maximum of 7 years. (Maximum Rs 5,00,000 lakh per year)
The guarantee fee will be paid at the current rate for up to 7 years.
Eligibility Criteria
The applicant should be a permanent resident of Madhya Pradesh.
The applicant should have passed Class 10th.
The applicantβs age should be between 18 to 40 years.
The benefit of this scheme can be availed only once.
Application Process
Apply Online
Step 1: Visit the
official website
using the provided link
Step 2: The homepage will appear, and you need to click on the
application link
for the Mukhya Mantri Yuva Udyami Yojana
Step 3: Various departments associated with the scheme will be displayed. Choose the department that interests you
Step 4: Choose the option for registration or sign-up if you are a new application. Click the submit button after entering your name, mobile number, password, and captcha code
Step 5: After submitting, you will be registered on the portal
Step 6: Now, you can log in to the portal and apply for the scheme.
Apply Offline
Step 1: Complete the
application form
available on the mpmsme.gov.in online portal or
Step 2: Attach all the required supporting documents as specified in the form
Step 3: Apply for the District Trade and Industry Center
Step 4: Once received, all applications will be registered
Step 5: Within 15 days, the applicant will be informed about the status of their application, whether it is complete or incomplete
Step 6: The applicant should also prepare a General Project Report (GPR) for the proposed activity and include it with the application.
Official Source: View on myScheme.gov.in
Scheme Benefits
- Financial assistance:
- Margin money assistance
- % of the capital cost of the project for the general category. (Maximum βΉ 12,00,000.)
- % of the capital cost of the project for BPL (Maximum βΉ 18,00,000)
- Interest subsidy
- At the rate of 5% per annum on the capital cost of the project and at the rate of 6% per annum for women entrepreneurs, for a maximum of 7 years. (Maximum Rs 5,00,000 lakh per year)
- The guarantee fee will be paid at the current rate for up to 7 years.