E-Paper
₹1k-cr to boost self-job dreams
₹1000 crore allocated to 'Mukhyamantri Yuva Udyami Vikas Abhiyan' to promote entrepreneurship. Interest-free loans of up to ₹5 lakh for new micro-enterprises. One million units to benefit over the next decade. Eligible individuals include those trained through government schemes and those with certificates/diplomas/degrees. Maximum project cost of up to ₹5 lakh. Second-stage financing and grants for digital transactions. Online application process.
To promote entrepreneurship among the youths of the state and thus boost self -employment, ₹1000 crore has been allocated to the newly launched ‘Mukhyamantri Yuva Udyami Vikas Abhiyan’ scheme.
This scheme will help generate employment in rural and urban areas by setting up new micro-enterprises.
Under this scheme, interest-free loans of upto ₹five lakh will be provided to projects in the industry and service sectors.
This self-employment mission aims to benefit one million units over the next decade by funding 1,00,000 units annually.
Individuals trained through government schemes such as Vishwakarma Shram Samman Yojana, One District One Product Training and Toolkit Scheme, Scheduled Caste/Tribe/Other Backward Class Training Scheme and Skill Upgradation by the Uttar Pradesh Skilled Development Mission will be eligible for benefits under this scheme.
Along with this, youth holding a certificate course/diploma/degree from any school/educational institution will also benefit from this scheme.
Micro units in the industry and service sector with a maximum project cost of up to ₹five lakh will also be eligible to avail the benefits.
Following the successful repayment of the initial loan within the scheme, the unit becomes eligible for second-stage financing.
Under this, a composite loan of double the first installment, up to a maximum of ₹7.50 lakh, will be given.
Provision for grants has also been made to promote digital transactions. The scheme application process will be online.
