Mukhyamantri Yuva Udhyam Protsahan Yojana

The Mukhyamantri Yuva Udhyam Protsahan Yojana has been implemented to promote youth entrepreneurship and encourage educated unemployed youth to establish their own enterprises in the state. The scheme is effective until March 31, 2024. Under this scheme, young entrepreneurs aged between 18 to 35 years with at least a graduate degree can start a new enterprise (manufacturing/service and trade) and receive an 8% interest subsidy on bank loans up to ₹25 lakh, and a 6% interest subsidy on loans between ₹25 lakh and ₹1 crore for a period of 5 years. Additionally, male entrepreneurs are eligible for a 10% margin money subsidy and female entrepreneurs for a 15% margin money subsidy, up to ₹5 lakh. The scheme covers the establishment of enterprises in the state of Rajasthan. Loans can be provided by nationalized commercial banks, private scheduled commercial banks authorized by the Reserve Bank of India, scheduled small finance banks, regional rural banks, Rajasthan Financial Corporation, SIDBI, and urban cooperative banks. The margin money subsidy will be disbursed only after the applicant has repaid an equivalent or higher amount of the loan. The margin money subsidy amount will remain deposited as a short-term deposit in the respective financial institution, and neither interest will be paid to the state government nor will interest be collected from the borrower on the equivalent loan amount. After three years of the enterprise being operational and the borrower not being a defaulter, the margin money subsidy will be adjusted in the borrower's account upon departmental inspection. If the enterprise is not operational for three years, the entire margin money will be returned to the industry department by the bank without interest. Applicants receiving margin money assistance under any central/state government scheme are not eligible for margin money assistance under this scheme, but they may be eligible under other schemes operated by the central/state government for promoting enterprises. Exclusions include the manufacture and sale of products made from meat/alcoholic substances, explosives, transport vehicles with an on-road price exceeding ₹15 lakh, non-recyclable polythene and environmentally harmful plastic products, and any products/activities banned by the central/state government from time to time, as well as agriculture and related activities (including animal husbandry, poultry, and fisheries), mining, real estate, educational institutions, etc. The scheme will end on July 31, 2024, and according to the order of the Industry and Commerce (Group-2) department dated August 31, 2024, the last date for loan approval for applications sent to banks under the scheme is November 30, 2024, and the last date for loan disbursement for approved cases is December 31, 2024.

• Interest subsidy of 8% on loans up to ₹25 lakh
• Interest subsidy of 6% on loans between ₹25 lakh and ₹1 crore
• Margin money subsidy of 10% for male entrepreneurs and 15% for female entrepreneurs, up to ₹5 lakh
• Support for establishing new enterprises in Rajasthan

Age Limit: 18 to 35 years
Education: Minimum graduation is required
Domicile: Applicant should be a resident of Rajasthan

Exclusions include the manufacture and sale of products made from meat/alcoholic substances, explosives, transport vehicles with an on-road price exceeding ₹15 lakh, non-recyclable polythene and environmentally harmful plastic products, and any products/activities banned by the central/state government from time to time, as well as agriculture and related activities (including animal husbandry, poultry, and fisheries), mining, real estate, educational institutions, etc.

Online

1. Download the application form from here
2. Prepare the required documents:

• Jan Aadhar/Bhamashah Card Copy
• Passport Size Photo
• Birth Certificate Copy
• Education Qualification Marksheet/Certificate Copy

1. Submit the application form along with the documents to the Commissioner Industries, Commerce & CSR office.