Chief Minister Youth Entrepreneur Development Campaign: Usually youth expect money from their family to start a business ...Read more

Jhansi: Many steps are being taken to prepare the youth to give employment instead of seeking employment. Mukhyamantri Yuva Udyami Vikas Abhiyan (CM-Yuva) scheme has been started to connect the youth with enterprise. A plan is being made to connect 2000 youth with this scheme in Jhansi. Through this scheme, the youth who have received training will be linked to self-employment. Usually, youth expect money from their family to start employment, but under this scheme, the government will give loans to the youth.

Deputy Commissioner of Industries Manish Chaudhary told Local 18 that in the first phase, 100% interest and guarantee free loan will be provided for 4 years for projects up to Rs 5 lakh. Youth of general category will have to deposit 10% of the project cost, OBC 10%, SC/ST/Divyang 10%, 10% margin money grant on the project cost and CGTMSE reimbursement will be payable for 4 years, land/building expenses will not be included in the project cost and it will be mandatory to have at least 10% of the total project cost in the form of term loan.

Loan limit may increase;
For the second phase, the candidate who repays the principal/ panel interest taken in the first phase in full will be eligible; projects up to Rs. 10 lakh can be established but 50% interest subsidy will be given on loans up to Rs. 7.50 lakh for 03 years; a minimum of 10% term loan of the project cost will be mandatory in the loan and the cost of workshop/ workshopshed can be included in it; CGTMSE coverage will be for up to 3 years.

This is the process of application

• The age limit of the applicant under the scheme should be between 21 and 40 years
• Applicant must have passed minimum class 08, Intermediate or equivalent will be preferred
• Trained under Vishwakarma Shram Samman Yojana, ODOP Training Scheme, SC/ST/OBC Training Scheme, Uttar Pradesh Skill Development Mission or have skill related certificate/degree/diploma etc. from a recognized educational institution.
• To apply, applicant has to apply online on MSME portal www.msme.up.gov.in
• will have to apply
• After application, the application received online at District Industry Promotion and Entrepreneurship Development Center
• After verification, it will be sent to the banks online.
  The loan will be sanctioned/disbursed in a timely manner on the applications received at the bank level.