Are you a young entrepreneur from Madhya Pradesh looking to set up your own business or industry? The Mukhya Mantri Yuva Udyami Yojana, launched by the Department of Micro, Small & Medium Enterprises (MSME), Government of Madhya Pradesh, is here to support your entrepreneurial journey. This scheme provides financial assistance in the form of loans, interest subsidies, and margin money support to help you establish and grow your enterprise. Let’s explore how this transformative initiative can help you achieve your business goals.

What is MP CM Yuva Udyami Yojana?

The Mukhya Mantri Yuva Udyami Yojana is a flagship program aimed at promoting entrepreneurship among the youth of Madhya Pradesh. Launched on 1st August 2014, the scheme provides loans ranging from ₹10,00,000 to ₹2,00,00,000 to eligible individuals who wish to set up industries or businesses. By offering financial assistance, interest subsidies, and guarantee fee waivers, the scheme ensures that young entrepreneurs can overcome financial barriers and build sustainable enterprises.

Key Benefits of the Scheme

1. Financial Assistance
   • Margin Money Assistance :
     • General Category: 15% of the project cost (maximum ₹12,00,000).
     • BPL Category: 20% of the project cost (maximum ₹18,00,000).
   • Interest Subsidy :
     • 5% per annum on the capital cost of the project for general applicants.
     • 6% per annum for women entrepreneurs.
     • Subsidy is available for a maximum of 7 years (capped at ₹5,00,000 per year).
   • Guarantee Fee Waiver :
     • The government pays the guarantee fee at the current rate for up to 7 years.
2. Wide Range of Industries
   • The scheme supports the establishment of various industries, including manufacturing units, service-based businesses, and other MSME sectors.
3. Empowerment of Women Entrepreneurs
   • Special incentives, such as higher interest subsidies, are provided to encourage women entrepreneurs.
4. One-Time Benefit
   • Each applicant can avail of the benefits of this scheme only once, ensuring equitable distribution of resources.

Eligibility Criteria

To qualify for the Mukhya Mantri Yuva Udyami Yojana, applicants must meet the following conditions;

1. Residency :
   • The applicant must be a permanent resident of Madhya Pradesh.
2. Age Limit :
   • The applicant’s age should be between 18 and 40 years.
3. Educational Qualification :
   • The applicant must have passed at least Class 10th.
4. Income Tax Status :
   • The applicant’s family should not be an income taxpayer.
5. Loan History :
   • The applicant should not be a defaulter of any bank.
6. Exclusions :
   • Individuals availing assistance under any other self-employment scheme are not eligible.
   • Only one member of a family can benefit from the scheme.

How to Apply for the Scheme

The application process is available both online and offline. Follow these steps to apply;

Online Application Process

1. Visit the Official Website :
   Go to the official portal by clicking here.
2. Navigate to the Application Link :
   On the homepage, click on the application link for Mukhya Mantri Yuva Udyami Yojana.
3. Select the Relevant Department :
   Choose the department associated with your proposed business or industry.
4. Register as a New Applicant :
   Click on the registration/sign-up option, enter your name, mobile number, password, and captcha code, and submit.
5. Log In and Apply :
   After registration, log in to the portal and fill out the application form for the scheme.

Offline Application Process

1. Visit the nearest office of the Department of Micro, Small & Medium Enterprises or an authorized agency.
2. Collect the application form, fill it out completely, and attach all required documents.
3. Submit the completed form along with the documents to the concerned authority.

Documents Required

Ensure you have the following documents ready before applying;

• Detailed Project Report.
• Madhya Pradesh Native Certificate.
• Educational Qualification Certificate.
• Date of Birth Certificate.
• Rent Agreement (if the land/building is rented).
• Quotations of current rates for machinery/equipment.

Frequently Asked Questions (FAQs)

What is Mukhya Mantri Yuva Udyami Yojana?

It is a scheme launched by the Government of Madhya Pradesh to provide financial assistance to young entrepreneurs for setting up industries or businesses.

Who is eligible for the scheme?

Permanent residents of Madhya Pradesh aged between 18 and 40 years, with a minimum educational qualification of Class 10th, are eligible.

How much financial assistance is available under the scheme?

• Margin Money Assistance: Up to ₹12,00,000 (general category) or ₹18,00,000 (BPL category).
• Interest Subsidy: Up to ₹5,00,000 per year for 7 years.

What is the minimum educational qualification required?

Applicants must have passed at least Class 10th.

Can non-residents of Madhya Pradesh apply?

No, only permanent residents of Madhya Pradesh are eligible.

What documents are required to register for the scheme?

Detailed Project Report, Native Certificate, Educational Qualification Certificate, Date of Birth Certificate, and other relevant documents.

Under which department does this scheme come?

The scheme is implemented by the Department of Micro, Small & Medium Enterprises (MSME).

Is this scheme for student scholarships?

No, this scheme is specifically for entrepreneurs looking to set up industries or businesses.

Why Choose Mukhya Mantri Yuva Udyami Yojana?

This scheme is more than just financial aid—it’s an opportunity for young entrepreneurs to break free from socio-economic barriers and achieve financial independence. By providing margin money assistance, interest subsidies, and guarantee fee waivers, the scheme empowers individuals to turn their innovative ideas into successful enterprises. Whether you’re a man or woman, this initiative ensures inclusivity and equal opportunities for all.

Official Website – Apply Link

Scheme Notification

 

The MP CM Yuva Udyami Yojana is a transformative initiative aimed at fostering entrepreneurship and economic empowerment among the youth of Madhya Pradesh. With its generous financial assistance, flexible eligibility criteria, and robust implementation framework, the scheme ensures that every eligible individual can build a sustainable business without financial strain. If you’re ready to take the next step toward entrepreneurship, explore the benefits of this scheme today and turn your aspirations into reality!