Mukhyamantri Yuva Udyami Yojana Update: Do you also want to start your own business? If you dream of not working a job but instead providing employment to others, now is a great time for you. The UP government has recently launched an amazing scheme for the youth of the state to start their own business called Mukhyamantri Yuva Udyami Yojana Vikas Abhiyan (CM-Yuva). Under this scheme, all youth will receive an interest-free loan from the government. No guarantee is required, and there is no need to pay EMI for the first 6 months.
Through this scheme, youth can start their own business with a loan of up to ₹5 lakh. In this article, let’s explore all the details about the Mukhyamantri Yuva Udyami Yojana.
Objective of Mukhyamantri Yuva Udyami Yojana
- To encourage the youth of Uttar Pradesh to start their own business by providing proper training.
- To support youth aged between 21 to 40 years in setting up businesses.
- To create 1 lakh self-employment opportunities every year, with a goal of 10 lakh opportunities in 10 years.
- To offer interest-free loans to help young entrepreneurs start their businesses.
- To ensure easy loan repayment conditions, so youth do not face financial burdens.
- The government will provide 10% of the project cost as a margin money subsidy.
- In the first phase, a loan of up to ₹5 lakh is approved.
- In the second phase, after repaying the first loan, an additional loan of up to ₹4.50 lakh can be availed.
Margin Money Subsidy Based on Category
- General category: 15% margin money
- OBC category: 12.5% margin money
- SC, ST, Divyang, and Backward Class: 10% margin money
- Special districts (Chitrakoot, Chandauli, Fatehpur, Balrampur, Siddharthnagar, Shravasti, Bahraich): 10% margin money
Eligibility for Mukhyamantri Yuva Udyami Yojana
- The applicant must be a permanent resident of Uttar Pradesh.
- The age should be between 21 to 40 years.
- The applicant must have at least passed the 8th class.
- The candidate should have received training under government schemes and must hold a skill-related certificate, diploma, or degree from a recognized institution.
Documents Required
Applicants need to submit the following documents:
- Passport-size color photo
- Age proof certificate
- Educational qualification certificate
- Caste certificate (if applicable)
- Project report
- PAN card
- Self-declaration form
- Skill certificate
- Bank statement or passbook (first page)
- Certificate from Sarpanch or Ward Councillor (for rural applicants)
How to Apply Online for the Scheme
Step 1: Registration
- Visit the MSME portal: https://msmeup.iid.org.in/
- Click on New User Registration.
- Select the scheme ‘Mukhyamantri Yuva Udyam Vikas Abhiyan’.
- Enter your Aadhaar number and click Validate. Verify the OTP.
- Your name, date of birth, and father’s name will appear automatically.
- Enter your mobile number, district, and email, then enter the captcha code and submit.
- Keep a printout of the form for future reference.
Step 2: Business Details & Loan Application
- Enter details about the business project you want to start.
- Click on Check CIBIL Score and add your CIBIL score.
- Provide details of:
- Product or service of your business
- Total funds required
- Term loan needed for plant & machinery
- Cash credit (CC) limit required
- If you have a business certificate, you can also submit it.
- Provide your bank details in the next step.
- By following these steps, you can successfully apply for the Mukhyamantri Yuva Udyami Yojana and avail yourself of an interest-free loan for your business!