MMYUY

Mukhya Mantri Yuva Udyami Yojana

The scheme "Mukhya Mantri Yuva Udyami Yojana" was launched on 1st August 2014 by the Department of Micro, Small & Medium Enterprises, Government of Madhya Pradesh. The scheme provides loans to the citizens of Madhya Pradesh who want to set up their industries.

State Cash

States / UT: Madhya Pradesh

Nodal department: Micro, Small & Medium Enterprises Department

Scheme for: Individual

Scheme profile

DBT (direct benefit transfer): Yes

Scheme open date: 2014-08-01

Categories: Banking,Financial Services and Insurance, Business & Entrepreneurship

Sub-categories: Banking and money, Financial regulation, Personal finance, Loan

Target beneficiaries: Individual

Tags: Entrepreneurship, Business, Financial Assistance, Loan, Bank, MSME

Details

The scheme "Mukhya Mantri Yuva Udyami Yojana" was launched on 1st August 2014 by the Department of Micro, Small & Medium Enterprises, Government of Madhya Pradesh. The scheme provides loans of up to ₹10,00,000 to ₹2,00,00,000 to the citizens of Madhya Pradesh who want to set up their industries.

Benefits

  • Financial assistance: Margin money assistance 15% of the capital cost of the project for the general category. (Maximum ₹12,00,000.) 20% of the capital cost of the project for BPL (Maximum ₹18,00,000) Interest subsidy
  • At the rate of 5% per annum on the capital cost of the project and at the rate of 6% per annum for women entrepreneurs, for a maximum of 7 years. (Maximum Rs 5,00,000 lakh per year)
  • The guarantee fee will be paid at the current rate for up to 7 years

Financial assistance:

Margin money assistance

  • 15% of the capital cost of the project for the general category. (Maximum ₹ 12,00,000.)

  • 20% of the capital cost of the project for BPL (Maximum ₹ 18,00,000)

Interest subsidy

  • At the rate of 5% per annum on the capital cost of the project and at the rate of 6% per annum for women entrepreneurs, for a maximum of 7 years. (Maximum Rs 5,00,000 lakh per year)
  • The guarantee fee will be paid at the current rate for up to 7 years.

Eligibility

  • The applicant should be a permanent resident of Madhya Pradesh.
  • The applicant should have passed Class 10th.
  • The applicant’s age should be between 18 to 40 years.
  • The benefit of this scheme can be availed only once.

Exclusions

  • If the applicant is getting assistance under any other self-employment scheme, then he cannot avail of benefits under this scheme.
  • The applicant’s family should not be an income taxpayer.
  • The applicant should not be a defaulter of any bank.

Application Process

Online

Step 1: Visit the official website using the provided link
Step 2: The homepage will appear, and you need to click on the application link for the Mukhya Mantri Yuva Udyami Yojana
Step 3: Various departments associated with the scheme will be displayed. Choose the department that interests you
Step 4: Choose the option for registration or sign-up if you are a new application. Click the submit button after entering your name, mobile number, password, and captcha code
Step 5: After submitting, you will be registered on the portal
Step 6: Now, you can log in to the portal and apply for the scheme.


Offline

Step 1: Complete the application form available on the mpmsme.gov.in online portal or
Step 2: Attach all the required supporting documents as specified in the form
Step 3: Apply for the District Trade and Industry Center
Step 4: Once received, all applications will be registered
Step 5: Within 15 days, the applicant will be informed about the status of their application, whether it is complete or incomplete
Step 6: The applicant should also prepare a General Project Report (GPR) for the proposed activity and include it with the application.

Clarifications

Additional points from the scheme information published on myScheme (not legal advice).

What is the Mukhya Mantri Yuva Udyami Yojana?
The scheme aims to provide benefits and financial assistance. the government of Madhya Pradesh gives loans up to loans up to ₹10,00,000 to ₹2,00,00,000 will be provided by the bank to all those citizens of the state who want to set up their industries.
Who is eligible for the scheme?
The scheme is open to all Indian citizens above the age of 18 to 40 who are permanent residents of Madhya Pradesh.
How much financial assistance is available under the scheme?
A maximum of ₹10 lakhs will be provided as financial assistance to each successful applicant under the scheme.
What is the minimum educational qualification required for the scheme?
Yes, the Madhya Pradesh government provides financial support to startups and small businesses through various schemes, including the Chief Minister Youth Entrepreneur Scheme.
Can non-residents of Madhya Pradesh apply for this scheme?
No, only permanent residents of Madhya Pradesh are eligible to apply for the Chief Minister Youth Entrepreneur Scheme.
What documents are required to register for the Scheme?
Detailed Project Report Madhya Pradesh Native Certificate Certificate of Educational Qualification date of birth certificate the land/building is on rent then the rent name Quotations of current rates for machinery/equipment/ equipment
Under which department does this scheme come?
Department of Micro, Small & Medium Enterprises
How to apply offline?
Complete the application form available on the mpmsme.gov.in online portal or https://mpmsme.gov.in:8080/mpmsmecms/Uploaded%20Document/Documents/MYUY_Application.pdf
How to apply online?
Visit the official website using the provided linkhttps://msme.mponline.gov.in/Portal/Services/msme2019/landing.html
Is this Scheme for student scholarship?
No, Under this scheme, loans will be provided by the bank to all those citizens of the state who want to set up their industries.

References

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Opens the official application or programme portal in a new tab. If in doubt, confirm details on the ministry site.

Documents Required for Government Schemes

Most government schemes require basic documents for verification. While the exact requirements vary, common documents include:

  • Aadhaar Card
  • Income Certificate
  • Caste Certificate (if applicable)
  • Residence Proof
  • Bank Account Details
  • Educational Certificates (for student schemes)

How to Apply for Government Schemes?

The application process for government schemes may be online or offline depending on the scheme. In most cases, you can follow these steps:

  1. Check eligibility criteria
  2. Collect required documents
  3. Fill the application form
  4. Submit the application online or at the relevant office
  5. Track application status