The chief minister of Madhya Pradesh Shivraj chouhan announced the scheme Mukhya Mantri Yuva Swarojgar Yojana on 1 Aug 2014. This scheme was started to provide the loans and the financial assistance to the people from banks and financial institutions who are setting up their own business. The main mission of this scheme is to enhance the entrepreneurship in Madhya Pradesh. Mukhya Mantri Yuva Swarojgar Yojana is tha scheme through which the state government will provide bank guarantee and loan subsidy.
Eligibility for Mukhya Mantri Yuva Swarojgar Yojana
The applicants or the beneficiaries should have the following eligibility to take the benefit of this scheme.
- To take the benefits of this scheme the applicant shoud be the permanent resident of Madhya Pradesh.
- The availability of this scheme is only to set up industry /service company or any small business.
- The beneficiary should be literate minimum to 5th
- The age limit to take the benefits of this scheme is 18-45 years.
- The applicant should not have the benefits of the pre schemes which are being run by the state government.
Procedure to Apply for Mukhya Mantri Yuva Swarojgar Yojana
To take the benefit of this scheme there is procedure by which the applicants can apply.
- The application forms of this scheme are available in the related district offices for free.
- Then the forms which are incomplete are called up to corrected.
- Then the project report for which the benefit is being taken will be submitted.
- The committee which is elected under this scheme will accept the applications.
- The applications which are selected will disbursed within 15 days.
Financial scheme of Mukhya Mantri Yuva Swarojgar Yojana (MMYSY)
Here is the description of the amount of finance which is provided to the applicants.
- The cost of the project for which the financial assistance is being taken should be Rs 20 thousands to 20 lakh.
- The state government will grant the interest rate of 5% of the total cost of the project.
- The state government will provide the 20% of the total cost as margin money to the applicants.
Mukhya Mantri Yuva Swarojgar Yojana is one of the beneficial scheme for the new business owners. The main mission of this scheme is to promote the entrepreneurs in the state. Under this scheme the state government will provide the financial assistance to the eligible applicants. So this scheme is one of the beneficial schemes for the new comers who are self employed.