Uttar Pradesh Divas is observed on January 24. The state is moving towards development with numerous schemes and projects for the residents of Uttar Pradesh. One such scheme is ‘Mukhyamantri Yuva Udyami Vikas Abhiyan’ scheme. Uttar Pradesh Government has brought the ‘Mukhyamantri Yuva Udyami Vikas Abhiyan’ scheme. This scheme is for the youth of the state.

This is an important step from the Uttar Pradesh Government to empower the youth. The scheme aims to plant 10 lakh micro units in 10 years. This will give financial support to 1 lakh trained and educated youth per year.

Major Points Of The Scheme

To provide skill trained youth in the age group of 21-40 years with self-employment by helping them establish product/service related enterprises.

Self-employment to 1 lakh youth every year, creation of 10 lakh self-employment opportunities in 10 years.

First Stage Of Scheme

1. 100% interest free collateral guarantee free loan for 04 years for projects up to Rs. 5.00 lakh.
2. General category beneficiaries will have to deposit 15% of the project cost, OBC 12.5%, SC/ST/Divyang 10% and beneficiaries of aspirational districts- Chitrakoot, Chandauli, Fatehpur, Balrampur, Siddharthnagar, Shravasti and Bahraich will have to deposit 10% of their own contribution.
3. 10% margin money grant on project cost and CGTMSE reimbursement for 04 years.
4. Land and building will not be included in the project cost and at least 10 per cent of the total project cost will be mandatory in the form of term loan.

Second Stage Of Scheme

1. The candidate who repays the full principal/penal interest taken in the first stage will be eligible.
2. Projects can be set up for up to Rs. 10.00 lakh, but 50 percent interest subsidy will be given on loan up to Rs. 7.5 lakh for 03 years.
3. The loan must have a term loan of minimum 10% of the project cost and can include the cost of workshop/workshed.

Also Read: PhonePe Launches Maha Kumbh Mela Security Insurance Plan: Get Benefits At Just…

Debt Free Loan Of Rs 5 Lakh.

The scheme has its focus on the service sector and the micro enterprises. It will offer subsidies on loans for the projects up to Rs 5 lakh. Special benefits will be given to the beneficiaries from Purvanchal, Bundelkhand and aspiring districts.

Eligibility Criteria

One should be the resident of Uttar Pradesh. The age of the beneficiaries should be between 21 to 40 years. The applicant must have cleared the 8th standard examination.

Benefit From The Scheme

Youth will be getting interest free loan under this Yojana. Under this Yojana, the interest free loan of amount Rs 5 lakh will be transferred into bank account of beneficiaries.

Documents Required

1. Aadhaar Card
2. Mobile Number
3. Email-Id
4. Address Proof
5. PAN Card

Application Process

1. On-line application on MSME portal https://msme.up.gov.in.
2. After testing the applications received online at District Industry Development and Entrepreneurship Promotion Centre, they are sent to the banks online.
3. Arrangement for timely approval/disbursement of loan on applications received at bank level.
4. Arrangement for receiving margin money, interest subsidy, CGTMSE reimbursement online by banks.

Also Read: Here’s A Good News About Delhi-Dehradun Expressway, Check Details Inside