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Mukhyamantri Yuva Udyami Vikas Abhiyan: You will get a loan of Rs 5 lakh without interest and guarantee for doing business, how to apply..

Shikha Saxena January 09, 2025 05:15 PM

There is good news for the 8th-pass youth in Uttar Pradesh. Now these youth will also be able to do their business easily. In fact, to implement the mission employment of UP Chief Minister Yogi Adityanath, the MSME department has started a new scheme 'Mukhyamantri Yuva Udyam Vikas Abhiyan'. For the first time in the state, a loan of up to Rs 5 lakh without interest and guarantee is being given for 4 years to set up an industry.

Economic experts, CAs, and retired bank officials have been deployed in every district to help the youth from application to operation for the project so that more and more youth can benefit from the scheme. CM Yogi will launch 'Mukhyamantri Yuva Udyam Vikas Abhiyan' on 24 January on UP Day. The MSME department has geared up for the success of 'Mukhyamantri Yuva Udyam Vikas Abhiyan'.

Application and Business Idea

Online applications can be made for the scheme on the department's website https://msme.up.gov.in. If you are unable to decide which business to start, then 400 project reports and about 600 business ideas have also been given on the website for help.

CA and bank officers will provide full help.

Alok Kumar, Principal Secretary of MSME Promotion Department, said that the entire scheme has been made online. There is no 'pick and choose' system anywhere. To connect the youth with entrepreneurship, the department has deployed CAs and retired bank officers in every district, who will help the youth from the application of the project to its operation. Apart from this, the MSME department is also going to deploy 2-2 CM Fellows and Computer Operators in every district to help the entrepreneurs. For the first time in the state, experts are being deployed to employ the youth.

Scheme was implemented in two phases

The department has implemented this scheme in 2 phases. The candidate who makes the full return of the principal/panel interest taken in the first phase will be eligible for the second phase. After this, he will be able to take a loan to set up projects up to Rs 10 lakh. 50 percent interest subsidy will be given on loans up to Rs 7.5 lakh for 3 years.

Disclaimer: This content has been sourced and edited from News 18 hindi. While we have made modifications for clarity and presentation, the original content belongs to its respective authors and website. We do not claim ownership of the content.