Business Loan

Government is Giving Rs 10 Lakh Loan to Youth – Know the Application Process And Eligibility

by

Business Loan: In today’s world, most young people want to start their own business instead of working for others. But the biggest obstacle in starting a business is money. Despite having the right idea and hard work, many young people leave their dreams incomplete due to a lack of funds. To overcome this problem, the Rajasthan government has launched the Chief Minister Yuva Swarozgar Yojana (Chief Minister Youth Self-Employment Scheme).

This scheme aims to make the youth self-reliant and provide them with financial support to start their own business. Under the scheme, young people can take a loan of up to Rs 10 lakh without any interest. This means that they will not have to pay a single rupee as interest to the bank. This scheme has been implemented from January 11, 2026 and will continue till March 31, 2029. This government scheme is being operated by the Department of Industries and Commerce.

Know the objective of the scheme

The main objective of this scheme is to make the youth job creators, not job seekers. The government wants young people to start businesses on their own and provide employment to others as well. For this, the government not only provides loans but also bears the cost of margin money and CGTMSE guarantee fees.

Read Here: A Mere 2-Rupee Note Can Make You a Millionaire, Know the Complete Method

Read Here: Jharkhand Board Class 10 and 12 Exams 2026 Start Important Exam Rules for Students : jac.jharkhand.gov.in

It is worth noting that under the scheme, financial assistance is provided for starting a new business or expanding an existing business in various sectors such as manufacturing, service, and trade. Individual applicants as well as HUFs, societies, LLP firms, companies, and self-help groups can apply under this scheme. The biggest relief is that no personal guarantee is required to take a loan from the bank.

Who can apply?

To avail the benefits of the Chief Minister Yuva Swarozgar Yojana, the applicant’s age should be between 18 and 45 years. If an institution or company is applying, it must be duly registered, and at least 51% of its shareholding should be held by people in the 18 to 45 age group.

Individuals who are already defaulters of any bank will not get a loan under this scheme. Interest subsidy is given only on the first loan. Those who own a commercial vehicle worth more than Rs. 15 lakh will not be eligible for this scheme. Additionally, loans will not be provided to businesses that have been banned by the state or central government. If an individual is already receiving financial benefits from an NGO or trust, they will also not be able to avail themselves of this scheme.

Loan Amount

The loan amount under this scheme depends on the applicant’s educational qualifications and the chosen business. Young people who have studied from 8th to 12th grade can get a maximum loan of Rs. 7.5 lakh for the manufacturing sector and up to Rs. 3.5 lakh for the service or trading sector. Along with this, 10% of the loan amount or a maximum of Rs. 35,000 is given as margin money.

Graduates, ITI diploma holders, or those with higher qualifications are given loans up to Rs. 10 lakh for manufacturing and up to Rs. 5 lakh for the trading or service sector. In such cases, the margin money can be 10% of the loan amount or a maximum of Rs. 50,000.

Read Here: Gold Rate Today Feb 4 – Gold Jumps ₹5,000, Check 22K, 22K & 18K Latest Prices

Read Here: Invest Just 7 Rupees Daily and Get a Guaranteed Pension of 5000 Rupees, Know the Important Details

Margin money is a type of deposit that is kept secure for two years. If the applicant successfully runs their business for two years and pays the EMIs on time, this amount is later transferred to their account.

Application Process

To apply for this scheme, you first need to create an SSO ID. For this, you have to register on the Rajasthan government’s SSO portal. Registration can be done through your Aadhaar number or email ID.

After creating the SSO ID, log in to the portal or mobile app. You will see the option for the Chief Minister’s Youth Self-Employment Scheme. Click on it to open the application form and fill in all the necessary information correctly. The form requires personal details, address, type of business, and information related to the location where the business will be started. After submitting the form, the further process will be completed by the concerned department and the bank.

Related Stories

Latest