Mukhyamantri Yuva Udyami Yojana in Madhya Pradesh – Online Apply
Mukhyamantri Yuva Udyami Yojana Online Form: With a view to improve the economic development of Madhya Pradesh and to encourage the youth of the state to set up their own business in the field of manufacturing and services, Government of Madhya Pradesh has launched Mukhyamantri Yuva Udyami Yojana on August 1, 2014.
The scheme provides financial support for setting up an industry that includes margin money help, interest grant, loan guarantee and training needed for it to youth from all section of the society in the state.
Objective of Mukhyamantri Yuva Udyami Yojana
It mainly aims at providing financial support to the young entrepreneurs for setting up industries and creating job opportunities in the state. A loan of Rs10 Lakh to Rs1 Crore is made available for setting up an industry under the scheme.
Eligibility for Mukhyamantri Yuva Udyami Yojana
An applicant for the benefit of the Yojana needs to satisfy following criteria under this scheme.
- Must be a resident of Madhya Pradesh
- Must have passed 10th examination
- Age must be between 18 to 40 years
- Must not be a defaulter of any financial institution/bank
- Should not be getting benefits of any other such scheme from the state government
- Can apply for manufacturing and service sector only
How to apply for Mukhyamantri Yuva Udyami Yojana
Interested candidate must apply for the benefit of the scheme by filling up an application form. The form can be obtained from district office or can be downloaded online at www.sarkariyojna.co.in. Submit the completely filled form along with general project report of the proposed project at the district office.
The selection committee will review your application and if your project is approved, then the loan for it will be disbursed within 15 days.
Financial Assistance Available under the Scheme
- The assistance is available for the industry project with the cost between Rs 10 Lakh to Rs 1 Crore.
- Annual 5% interest grant will be provided till 7 years.
- Margin money help of 15% of the project cost limited to maximum Rs 12 lakh can be availed.
- The government will provide the guarantee fee up to 7 years.
- Training for setting up and growth of the business will be imparted; it is not mandatory to take the training.
- The Mukhyamantri Yuva Udyami Yojana has gained much popularity in Madhya Pradesh. It will boost the economy of the state and will create new jobs leading to prosperity of the state!
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