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MP Mukhyamantri Yuva Swarojgar Yojana 2022

The Madhya Pradesh government keeps on coming up with various schemes for the people of the state. In this direction, the Madhya Pradesh government has started Mukhyamantri Yuva Swarozgar Yojana for the youth. Under this scheme, the state provides assistance to the youth to start their own industries. For this, the government provides loans at subsidized rates.

Mukhyamantri Yuva Swarozgar Yojana (MMYYY) launched on 1st August 2014 is a financial assistance scheme, which helps people to get loans from banks to set up their own small businesses. Under the scheme, the government of MP provides margin money assistance, interest subvention, loan guarantee and training to the beneficiaries. The main objective of the scheme is to promote entrepreneurship in Madhya Pradesh without the need for collateral security.

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Eligibility for Mukhyamantri Yuva Swarozgar Yojana

It is necessary to have the following eligibility for Mukhyamantri Yuva Swarozgar Yojana:-

• Only permanent residents of MP are eligible to avail the benefits of the scheme.
• Applicant must have passed at least 5th class.
• Applicant’s age should be between 18 to 45 years.
• The applicant should not be declared a defaulter by any nationalized or private sector banks.
• The applicant should not already get assistance under any state-run schemes.
• This scheme is available only for setting up Industry/Service Company/Business.

For more information about Mukhyamantri Yuva Swarojgar Yojana: Click Here

Download MSY Scheme Guideline In PDF Format: Click Here

Financial assistance under the scheme

• The cost of the project under the scheme should be between Rs 20 thousand to 10 lakh.
• The government will give interest at the rate of 5% per annum on the cost of the project (maximum 25K) for 7 years.
• The guarantee fee will be paid at the current rate for 7 years.
• The state government will provide 20% of the project cost as margin money or maximum up to Rs.50000 on the basis of Rs.10,000/-.

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Application for Mukhyamantri Yuva Swarozgar Yojana

• First of all you have to visit the official website of MSME MP Online. https://msme.mponline.gov.in/ will go on.
• After that click on the link of Department of Micro, Small and Medium Enterprises on the home page.

• Now click on Sign Up.
• Thereafter, you will have to verify yourself through eKYC.
• Now enter your Aadhar card number and verify it through OTP.
• After this, ensure your registration by following all the guidelines.
• After completion of registration, you will have to go to the Log-in section again and login with the help of registered mobile number and password created.
• After logging in online, provide all the required information and upload all the required documents in JPEG or PDF format.
• After filling the application form under this scheme, once again check it thoroughly and submit it only after checking it.
• After submitting the Yuva Swarozgar Yojana application form, take a print out of it and keep it safe for future reference.

Offline Application for Chief Minister Self Employment Scheme

• The application forms are available free of cost in the respective district office.
• Then the application forms will be reviewed. Applicants with incomplete forms will be called to fill in the missing details in the forms.
• Applicants are required to submit the General Project Report of the proposed project along with the application form.
• The applications will be submitted to the selection committee of the concerned department selected under the scheme.
• Non-eligible applications will be rejected.
• Loans for approved applications will be disbursed within 15 days after the acceptance of the application.

After loan disbursement, applicants will be given training by the government for the development of their industry/businesses. Detailed Guidelines of Mukhyamantri Yuva Swarozgar Yojana http://www.dif.mp.gov.in/schemewiseTarAllo/MMYSYojana.pdf