UP Government Scheme: State government will give interest free loan up to Rs 25 lakh, know how to avail the benefit
UP Government Scheme: For the state’s young, the Uttar Pradesh administration has some wonderful news. The UP government is offering interest-free loans in an effort to boost employment in the state and help young people become self-sufficient. Actually, under state government programs, young people may now establish their own businesses with interest-free loans up to Rs 25 lakh.
In order to encourage self-employment, Chief Minister Yogi Adityanath has made the decision to significantly alter the “Mukhyamantri Swarojgar Yojana.” Tell us about this project…
Up to 90% of loans are interest-free
The Chief Minister Yuva Udyami Yojana now permits young people to establish projects up to Rs 5 lakh, with up to 90% interest-free loans accessible. The fact that over 50,000 applications were received in the first month of this fiscal year alone is indicative of the scheme’s popularity. Motivated by this program, the Uttar Pradesh administration is now getting ready to expand the Chief Minister’s Self-Employment Scheme even further. As a result, there is now a provision for young people to get interest-free loans up to Rs 25 lakh.
The project may now be completed for up to Rs 1 crore
The present cap of Rs 25 lakh in the manufacturing sector and Rs 10 lakh in the service sector would be raised to Rs 1 crore by the state government. In addition, the government will provide 25% margin money, which will be used as a subsidy for two years of profitable company operations. For instance, the government would provide Rs 6.25 lakh from a Rs 25 lakh industrial initiative that is established. At the same time, up to Rs 2.5 lakh would be provided in the service industry.
Who will gain from the plan?
- The candidate should be between the ages of 18 and 40.
- Being a permanent resident of Uttar Pradesh is required.
- Having completed at least the tenth grade is required.
- Never should the applicant have a bank default.
- The general public will be required to contribute 10%, while women, minorities, scheduled castes and tribes, and backward classes will only be required to contribute 5%.
Documents Needed
- The Aadhaar Card
- Certificate of Age
- Magazine/Ration Card
Mukhyamantri Yuva Swarojgar Yojana application procedure began
- The easy procedures listed below will help candidates who are interested in enrolling in the state government’s Mukhyamantri Yuva Swarojgar Yojana to do so online.
- Visit the Directorate of Industries and Business Promotion’s official website. The main page will open here.
- On the main page, the “Mukhyamantri Yuva Swarojgar Yojana” option will be shown. Press it.
- The application form will be accessible on the next page that opens after clicking.
- Enter the details requested in the form, such as your name, father’s name, birthdate, phone number, email address, district, state, scheme name, etc.
- Click “Submit” after all the information has been entered. The program’s goal is to promote self-employment among young people. Candidates can visit the department’s website for further details.
