The Uttar Pradesh government has launched the Mukhyamantri Yuva Udyami Vikas Abhiyan, through which the youth will get a loan of up to Rs 5 lakh without interest and guarantee. This scheme will help the youth of the state to start their own business. The scheme will be launched by CM Yogi Adityanath on January 24.
Interest Free Loan: To realize Uttar Pradesh Chief Minister Yogi Adityanath’s mission of employment, the MSME department has launched a new scheme ‘Mukhyamantri Yuva Udyami Vikas Abhiyan’. Under this scheme, youth will be given a loan of up to Rs 5 lakh without interest and guarantee for four years, so that they can start a business. Economic experts, CAs and retired bank officials have been deployed in every district to implement the project from application to implementation.
CM Yogi Adityanath will officially launch this scheme on the occasion of UP Day on January 24. The MSME department has geared up to make the ‘Mukhyamantri Yuva Udyami Vikas Abhiyan’ a success. The department is completely focused on improving the system at the administrative level and reaching it to as many people as possible.
Application and business idea
If you want to take advantage of this scheme of the Uttar Pradesh government, then the department has made complete preparations for this. Interested candidates for this scheme can apply online on the department’s website https://msme.up.gov.in.
If you are unable to decide which business to start, then the department has also given a solution for this. To help the youth, 400 project reports and about 600 business ideas have been given on the website. You can also start a business on these ideas.
The department has made full preparations
Alok Kumar, Principal Secretary of the Micro, Small and Medium Enterprises (MSME) Promotion Department, said that Chief Minister Yogi Adityanath wants to implement this scheme completely online. According to this, the department has made the scheme completely online. There is no pick and choose system anywhere.
CAs and retired bank officials have been deployed in every district by the department to connect the youth with entrepreneurship. They will help the youth from applying for the project to running it.
Apart from this, the MSME department is also going to deploy two CM fellows and computer operators in every district to help the entrepreneurs. This is the first time in the state when experts are being deployed to provide employment to the youth.
Scheme implemented in two phases
The department has implemented this scheme in two phases. On full repayment of the principal/panel interest taken in the first phase, the beneficiary will be eligible for the second phase. After this, he will be able to take a loan to set up a project of up to 10 lakhs. 50 percent interest subsidy will be given for 3 years on loans up to Rs 7.5 lakh.
