Development

Mukhyamantri Yuva Udyami Yojana (MMYUY) in Madhya Pradesh / मुख्यमंत्री युवा उद्यमी योजना

मुख्यमंत्री युवा उद्यमी योजना (हिंदी में)

Mukhyamantri Yuva Udyami Yojana (MMYUY) is introduced by the state government of Madhya Pradesh for youth entrepreneurs. Under this scheme, Government provides financial support to young talented youths to become entrepreneurs with their innovative business ideas. Mukhyamantri Yuva Udyami Yojana was announced and started on 1 August 2014 by Chief Minister Shivraj Singh Chouhan at Yuva Panchayat, Madhya Pradesh. The Mukhyamantri Yuva Udyami Yojana has the aim to provide funding to the talented youths who want to set up an industry with their innovative business ideas. In this scheme talented youths may get the loan amount of Rs. 10 Lakhs to 1 Crore in order to set up an industry or start the new business. Employment always has been a problem in the country and because of this problem many youths want to start their own business. So, such kind of government scheme really helps youth who wants to start their own business. The application form is available in district office and applicant should fill and submit it to the concerned district office. After the loan disbursement, the government also provides training for development of their own businesses

Financial assistance under Mukhyamantri Yuva Udyami Yojana:

  1. Under this scheme, the project cost should be between Rs. 10 Lakh to 1 Crore
  2. government give an interesting grant of 5% of the total cost of the project per year for up to 7 years
  3. The guarantee fee will be paid at the current rate for up to 7 years
  4. State Government will provide 15% of the project cost as Margin Money( Maximum Rs. 12 Lakh)

Eligibility criteria for Mukhyamantri Yuva Udyami Yojana:

  1. Applicant must be resident of Madhya Pradesh state
  2. The applicant must have passed at least 10th Class
  3. The applicant age should be between 18 to 40 years
  4. The applicant should not be defaulter of any nationalized bank, cooperative bank or any financial institution
  5. If the applicant getting any financial assistance under state-level scheme such as udyami/swarozgar yojna then such person is not eligible for this scheme
  6. Applicant benefited only once in this scheme
  7. The scheme is available only to set up manufacturing or service industry

Documents required for Mukhyamantri Yuva Udyami Yojana:

  1. Identity proof such as Aadhaar card
  2. Age proof
  3. Domicile certificate
  4. Passport size photos
  5. Education certificates
  6. Bank account details
  7. Proposed Project report
  8. Caste certificates if applicable
  9. Machinery/tools/equipment current rate quotations if any

How to apply for Mukhyamantri Yuva Udyami Yojana:

  1. Application form is available in concerned District Office
  2. Applicant visit concerned district office to collect the application form for free
  3. Fill the form along with attached all essential documents and submitted to district office for review
  4. Then the application forms will be reviewed and sorted in office. Applicants with incomplete forms will be called to complete the missing details in the forms
  5. After, applicant should have to submit a general project report for the proposed project along with application form
  6. Application forms then presented to the selection committee of respective department elected under the scheme
  7. Non-Eligible applications will be rejected
  8. Loans for the accepted applications will be disbursed within 15 days after the acceptance of the application

References & details:

  1. For more details about Mukhyamantri Yuva Udyami Yojana visit: http://www.mpindustry.gov.in/Self%20Employment%20Schemes.asp
  2. Mukhyamantri Yuva Udyami Yojana pdf download: http://www.dif.mp.gov.in/schemewiseTarAllo/MMYUYojana.pdf
  3. Application form for Mukhyamantri Yuva Udyami Yojana: http://www.mpindustry.gov.in/MYUY_Application.pdf

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