The Mukhya Mantri Krishak Udyami Yojana (MMKUY), launched by the Department of Micro, Small & Medium Enterprises (MSME) in Madhya Pradesh, is a groundbreaking initiative aimed at empowering the children of economically weak farmers. This scheme provides financial assistance to sons and daughters of farmers to help them establish their businesses, fostering self-reliance and entrepreneurship. By addressing unemployment and economic challenges faced by rural communities, MMKUY contributes significantly to the socio-economic development of the state.
What is MP CM Krishak Udyami Yojana?
The Mukhya Mantri Krishak Udyami Yojana offers loans ranging from ₹50,000 to ₹10,00,000 for setting up new enterprises. It ensures that even those from Below Poverty Line (BPL) families can overcome financial barriers and achieve economic independence. The scheme also includes provisions for subsidies and interest rate benefits to make borrowing affordable and sustainable.
Under this program, beneficiaries receive financial support based on their category and project size. For instance, general category applicants are eligible for 15% of the capital cost, while BPL applicants receive 20%. Additionally, women entrepreneurs enjoy higher subsidies and lower interest rates compared to their male counterparts.
Key Benefits of the Scheme
- Financial Assistance: Loans ranging from ₹50,000 to ₹10,00,000 are available for business setup.
- Subsidy Provisions:
- General Category: 15% of the project cost (maximum ₹12,00,000 for projects worth ₹10 lakh or more).
- BPL Category: 20% of the project cost (maximum ₹18,00,000 for projects worth ₹10 lakh or more).
- Interest Subsidy :
- Women Entrepreneurs: 6% interest subsidy.
- Male Entrepreneurs: 5% interest subsidy.
- Special Provisions:
- 30% of the project cost (maximum ₹3,00,000) for nomadic and semi-nomadic tribes.
- An additional 20% subsidy (maximum ₹1,00,000) for Bhopal gas tragedy victims.
- Guarantee Fee Waiver: Beneficiaries can avail of a guarantee fee waiver for up to 7 years.
Who is Eligible for the Scheme?
To ensure that the benefits reach the intended beneficiaries, the scheme has specific eligibility criteria:
- Residency – The applicant must be a permanent resident of Madhya Pradesh.
- Age – Applicants should be between 18 and 45 years old.
- Educational Qualification – A minimum of 10th class pass is required.
- Family Background – The parents of the beneficiary should not own agricultural land.
- Income Level – The applicant should not be an income taxpayer.
How Does MMKUY Help Farmers Financially?
The scheme addresses the financial challenges faced by the children of economically weak farmers by providing;
- Access to affordable credit for business establishment.
- Subsidies to reduce the financial burden of loan repayment.
- Special provisions for marginalized communities, ensuring inclusivity.
By offering these benefits, MMKUY enables beneficiaries to overcome economic barriers and contribute to their family’s progress.
How to Apply – Online/ Offline Process
Applicants can apply for the scheme either online or offline. Here’s a step-by-step guide;
1) Online Application Process
- Visit the official website of Mukhya Mantri Krishak Udyami Yojana.
- Locate the application link for the scheme on the homepage.
- Choose the relevant department associated with your business idea.
- Register by entering your name, mobile number, password, and captcha code.
- After registration, log in to the portal and complete the application form.
- Upload the required documents and submit the application form.
2) Offline Application Process
- Visit the nearest MSME office or designated center.
- Collect the application form and fill it out accurately.
- Attach all necessary documents as specified.
- Submit the completed form to the concerned authority.
Essential Documents
To ensure a smooth application process, gather the following documents;
- Aadhar Card
- PAN Card
- Birth Certificate
- BPL Certificate (if applicable)
- Land farming papers (to prove parents do not own agricultural land)
- Income Certificate
- Address Proof
- Passport-size photographs
- Mobile Number
- 10th Class Mark Sheet
Frequently Asked Questions (FAQs)
Q1. What is Mukhya Mantri Krishak Udyami Yojana (MMKUY)?
It is a government scheme in Madhya Pradesh aimed at providing financial assistance to the children of farmers to help them establish businesses.
Q2. Who can apply for MMKUY?
Sons and daughters of farmers who meet the eligibility criteria, including residency, age, education, and income level, can apply.
Q3. How does MMKUY help farmers financially?
The scheme provides loans, subsidies, and interest rate benefits to enable beneficiaries to set up businesses and become self-reliant.
Q4. What is the minimum educational qualification required?
Applicants must have passed at least the 10th grade.
Q5. What is the age limit to get the loan?
Applicants must be between 18 and 45 years old.
Q6. How does MMKUY contribute to rural development?
By promoting entrepreneurship among rural youth, the scheme helps reduce unemployment and fosters economic growth in rural areas.
Q7. What is the official website of MMKUY?
The official website is provided by the Department of MSME, Government of Madhya Pradesh.
Q8. Can I apply online?
Yes, the scheme allows both online and offline applications.
Q9. How many times can an applicant avail of the scheme’s benefits?
The scheme guidelines do not specify multiple benefits; typically, one-time assistance is provided.
Why Choose Mukhya Mantri Krishak Udyami Yojana?
The Mukhya Mantri Krishak Udyami Yojana is a lifeline for the children of economically weak farmers in Madhya Pradesh. By offering financial assistance, subsidies, and special provisions for marginalized groups, the scheme empowers beneficiaries to overcome poverty and unemployment. It not only transforms individual lives but also contributes to the overall development of rural communities.
Application Form – Available at MSME office
If you’re a farmer’s child looking to start a business, don’t miss this opportunity to turn your entrepreneurial dreams into reality. Apply today and take the first step toward a brighter future!
