Government Sacheme: The Yogi Adityanath government of UP has launched the Chief Minister’s Youth Entrepreneur Development Campaign (Myuva) to realize the dreams of the youth of Uttar Pradesh standing on their own feet. This scheme launched in 2024 provides financial assistance to educated and skilled youth to set their business. Interest free loan is given by the government to start a business. Not only this, the UP government will help in whatever work you want to start.
The specialty of this scheme is that you do not even need to fill EMI for 6 months. Once you repay the loan, a loan is being given by the government to further increase the business. This will promote self -employment and also contribute to the economic development of the state. Let’s understand what is Myuva scheme? Who can apply for this? How much financial help is available:-
How much is help?
Under the Chief Minister Yuva Udyami Yojana, money is available in two phases. Projects up to Rs 5 lakh will be approved in the first phase. It will get a loan of up to Rs 4.50 lakh.
There will be 100% interest discount for 4 years. There will be no guarantor for the loan. However, according to the category, margin money will have to be raised itself.
You will not have to give EMI for 6 months under this scheme. CGTMSC coverage will also be available for 4 years.
After repaying the first phase loan, you will get a loan under the second phase of this scheme. Project cost of up to Rs 10 lakh will be approved in this phase.
At this time, the loan taken in the first phase will get double or 7.5 lakh rupees (whatever more).
There will be a subsidy of 50% in interest for 30 years. CGTMSC coverage will be 3 years.
How many margin money will be there for which category?
Margin money has been kept according to the category under the Chief Minister Yuva Udyami Yojana. General category will have to pay 15%, OBC 12.5%, SC/ST/Divyang/Backward Class 10%margin money. At the same time, people of Chitrakoot, Chandauli, Fatehpur, Balrampur, Siddharthnagar, Shravasti and Bahraich will also have to give 10% margin money.
Who can take advantage of Myuva scheme?
People between 18 years and 45 years can take advantage of this scheme.
To take advantage of this scheme, the applicant must be a native of UP.
The applicant must have at least 8th pass.
People who have taken training under Vishwakarma Shram Samman Yojana, one district one product training, toolkit scheme and others can also apply in this scheme.
Skill related Certificate/Diploma/degree should be from a recognized educational institution.
Which documents will be needed?
Certificate of training and educational qualification to fill the application form of Myuva scheme, Aadhaar card or voter ID, ration card, certificate for identity, certificate of being native to UP, bank account details. The first page of the statement or passbook of the bank from which the loan is being taken, the income certificate, the business plan, the sarpanch, if the sarpanch is from the urban area, the certificate from the ward councilor, a certificate, self declaration form and 2 passport size photos will be needed.