Golden opportunity for the youth of UP: Loan up to Rs 5 lakh will be available without guarantee, Chief Minister can avail it like this

With the aim of promoting self-employment in Uttar Pradesh and making the youth job creators instead of job seekers, the state government is rapidly promoting the Chief Minister Yuva Udyami Vikas Abhiyan (MYUVA). Under this scheme, interest free and collateral free loan up to Rs 5 lakh is provided to eligible youth to start their business. The aim of the government is to create new employment opportunities by setting up lakhs of new micro enterprises in the state.

What is Chief Minister Youth Entrepreneur Development Campaign?

Mukhyamantri Yuva Udyami Vikas Abhiyan (MYUVA) is a major scheme of the Uttar Pradesh government, which was started with the aim of making the youth economically self-reliant. Under this, such youth, who want to start their own industry, service based business or small business, are given training and guidance along with financial assistance.

The objective of the scheme is not only to provide loans but also to provide necessary support to the youth to become successful entrepreneurs.

Loan up to Rs 5 lakh will be available without guarantee

The biggest feature of this scheme is that loans up to Rs 5 lakh are given to the beneficiaries without mortgaging any property. Besides this, there is no interest burden on this loan, which makes starting a new business easier.

Apart from this, margin money subsidy of up to 10 percent is also given on the project cost, which reduces the pressure of initial investment.

Who can apply?

Some eligibility conditions have been set to avail the benefits of the scheme. The applicant must be a permanent resident of Uttar Pradesh and his age should be between 21 to 40 years. The minimum educational qualification has been kept as 8th pass.

The government gives priority to those youth who have received skill training, diploma or technical education from a recognized institute. Apart from this, priority is also given to women, Scheduled Caste, Scheduled Tribe, Other Backward Class, Minority and Disabled applicants.

For which businesses can a loan be obtained?

Under the scheme, not only traditional shops but many types of small and medium scale enterprises can be started. These include manufacturing units, service sector businesses, franchise models, mobile businesses, repair centres, food processing, digital services and other micro industries.

This gives freedom to the youth to choose their business as per their interest and local market demand.

What is the application process?

Application for the scheme can be made completely online. Interested candidates register on Uttar Pradesh MSME portal and upload the required documents. Project report, identity card, residence certificate, bank details and training related certificates have to be submitted along with the application.

After scrutiny of the application, loan is provided to the eligible candidates through the bank. Under the scheme, entrepreneurship training and expert advice are also provided so that the business can be operated successfully.

What is the aim of the government?

The aim of the state government is to connect about one lakh youth with this scheme every year. In the long run, there is a plan to create more than 10 lakh new entrepreneurs through this. This will not only reduce unemployment, but will also increase economic activities and employment opportunities due to the establishment of new industries at the local level.

Chief Minister Youth Entrepreneur Development Campaign is a big opportunity for those youth of Uttar Pradesh who were not able to start their business due to lack of financial resources. Facilities like guarantee-free and interest-free loans, government training, subsidies and entrepreneurship guidance make this scheme extremely useful. If you have a business idea and want to become self-reliant, then this scheme can prove to be a strong start to your entrepreneurial journey.

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