Madhya Pradesh
Mukhya Mantri Yuva Udyami Yojana
Main benefit
Financial assistance:
Can you get this scheme?
Conditions at a glance
- Age 18 or above
- Age up to 40
- Work: Business / self-employed
About
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 ₹10,00,000 to ₹2,00,00,000 to the citizens of Madhya Pradesh who want to set up their industries.
Benefits
- Financial assistance:
- Margin money assistance15% of the capital cost of the project for the general category. (Maximum ₹ 12,00,000.)20% of the capital cost of the project for BPL (Maximum ₹ 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.
Who can apply
- The applicant should be a permanent resident of Madhya Pradesh.
- The applicant should have passed Class 10th.
- The applicant's age should be between 18 to 40 years.
- The benefit of this scheme can be availed only once.
Who cannot apply
- If the applicant is getting assistance under any other self-employment scheme, then he cannot avail of benefits under this scheme.
- The applicant's family should not be an income taxpayer.
- The applicant should not be a defaulter of any bank.
Documents needed
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How to apply
Online
Offline
- 1
Visit the official website using the provided link
- 2
The homepage will appear, and you need to click on the application link for the Mukhya Mantri Yuva Udyami Yojana
- 3
Various departments associated with the scheme will be displayed. Choose the department that interests you
- 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
- 5
After submitting, you will be registered on the portal
- 6
Now, you can log in to the portal and apply for the scheme.
Common questions
What is the Mukhya Mantri Yuva Udyami Yojana?
The scheme aims to provide benefits and financial assistance. the government of Madhya Pradesh gives loans up to loans up to ₹10,00,000 to ₹2,00,00,000 will be provided by the bank to all those citizens of the state who want to set up their industries.
Who is eligible for the scheme?
The scheme is open to all Indian citizens above the age of 18 to 40 who are permanent residents of Madhya Pradesh.
How much financial assistance is available under the scheme?
A maximum of ₹10 lakhs will be provided as financial assistance to each successful applicant under the scheme.
What is the minimum educational qualification required for the scheme?
Yes, the Madhya Pradesh government provides financial support to startups and small businesses through various schemes, including the Chief Minister Youth Entrepreneur Scheme.
Can non-residents of Madhya Pradesh apply for this scheme?
No, only permanent residents of Madhya Pradesh are eligible to apply for the Chief Minister Youth Entrepreneur Scheme.
What documents are required to register for the Scheme?
Detailed Project Report Madhya Pradesh
Department of Micro, Small & Medium Enterprises How to apply offline?
Complete the application form available on the mpmsme.gov.in online portal or https://mpmsme.gov.in:8080/mpmsmecms/Uploaded%20Document/Documents/MYUY_Application.pdf
How to apply online?
Visit the official website using the provided linkhttps://msme.mponline.gov.in/Portal/Services/msme2019/landing.html
Is this Scheme for student scholarship?
No, Under this scheme, loans will be provided by the bank to all those citizens of the state who want to set up their industries.