Chief Minister Udyam Kranti Yojana: Those starting the business will be able to register from today and take advantage of this scheme

Mukhyamantri Udyam Kranti Yojana: Mukhyamantri Udyam Kranti Yojana is starting once again, the benefit of this scheme will be given to the youth of Madhya Pradesh for setting up new industries or starting service related business.

Under this scheme, loans ranging from 1 lakh to 50 lakh will be given to the youth, in which the state government will give 3 percent interest subsidy. Registration in this scheme can be done through online by visiting the portal which has started from January 10.

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Application to be made online on the portal

According to the intention of making Madhya Pradesh self-reliant, Chief Minister Shivraj Singh Chouhan has Mukhyamantri Udyam Kranti Yojana had started. The portal of Mukhyamantri Udyam Kranti Yojana, launched by the Department of Micro, Small and Medium Industries for the youth of the state to establish their own business, service or business, will start on Monday through MP Online from January 10. To take advantage of the scheme, the applicant has to apply online at https://samast.mponline.gov.in/.

Know how much you will get the loan?

According to Vineet Rajak, who is the General Manager of the District Trade and Industry Center of Jabalpur, under Mukhyamantri Udyam Kranti Yojana, a loan of 1 to 50 lakhs will be given to the youth setting up manufacturing units and enterprises, while for the service sector 1 lakh to 25 lakhs. Loan will be given up to Rs. tell me Mukhyamantri Udyam Kranti Yojana The benefit of the scheme will be only for the establishment of new enterprises, the provisions of the scheme will remain the same for all categories of applicants.

Know the conditions to apply

  • The applicant’s age should be 18 to 40 years for financial assistance in the scheme.
  • The educational qualification of the applicant should be minimum 12th class pass.
  • The annual income of the applicant’s family should not exceed Rs.12 lakhs.
  • If the applicant’s family is an income tax payer, then his income tax details of the last three years have to be attached with the application.
  • Only those who are not defaulters of any bank or any financial institution can apply.
  • The applicant should not be a beneficiary of any other self-employment scheme of the State or Central Government at present.

interest subsidy

Under the interest subsidy scheme, interest subsidy at the rate of 3 percent per annum will be given on the remaining loan disbursed by the bank to all categories of beneficiaries under the financial assistance, with a maximum moratorium period of 7 years, during which the loan account of the beneficiaries remains NPA. No interest subsidy will be admissible for that period, the amount of interest subsidy will be reimbursed on annual basis.

Under the scheme, the guarantee fee will be given at the prevailing rate for a maximum period of 7 years with moratorium period, the implementation of the scheme will be done by the Department of Micro, Small and Medium Enterprises, interest subsidy for 7 years in pre-run Chief Minister’s Self-Employment, Young Entrepreneur, Farmer Entrepreneur Schemes And due to the provision of loan guarantee fee grant, the beneficiaries of these earlier schemes will continue to get its benefits as per the earlier provisions, the implementation of the scheme will be done through the integrated portal.

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