Mukhyamantri Yuva Udyami Yojana (MMYUY) 2017 in Madhya Pradesh Complete Details

Published Date - 02 November 2017 07:06:10 Updated Date - 02 November 2017 07:06:46

Madhya Pradesh government has started the online registration under Mukhyamantri Yuva Udyami Yojana (MMYUY). Mukhyamantri Yuva Udyami Yojana (MMYUY) Online application form can be filled at mmsy.mponline.gov.in. Under this scheme, the state government of Madhya Pradesh will provide financial assistance to the youths of the state to set their own business industry.  Under the scheme, a loan from Rs. 10 Lakh to Rs. 1 Crore can be taken to set up any industry. The main objective of this scheme is to provide financial support to the entrepreneurs to generate more employment & jobs.

Mukhyamantri Yuva Udyami Yojana, launched on 01 August 2014 in Madhya Pradesh, the scheme is aimed to provide financial support to all categories of people for setting up manufacturing or service industry. Under the scheme, MP government will provide margin money help, interest grant, loan guarantee and training for setting up the industry.

To Away the unemployment among the youth here is another way to employee the candidates in other way. The second way by joining the business schemes they can earn the living. But to start the business it demand money.  Everyone not so much strong to start his own business by investing the money.

The Government of Madhya Pradesh has invites the online application form from the youth of the State. The application for which invites i.e. for  Mukhyamantri Yuva Udyami Yojana. So you can fill the application for this scheme by visiting the official website of the government i.e. www.mmsy.mponline.gov.in.

Objective of Mukhyamantri Yuva Udyami Yojana

The main objective of the scheme is to provide financial support to the entrepreneurs and help creating more industries and jobs in the state. Under the scheme, a loan from Rs. 10 Lakh to Rs. 1 Crore can be taken to set up any industry.

Mukhyamantri Yuva Udyami Yojana Forms 2017

So after receiving the application form from the youth the government will provided them the financial assistant to steup their own business. Under this scheme they are able to take the loan from the government from Rs.1 Lakh to RS.1 Crore. This is really huge amount to start own business. So the main aim to provided them the help by way of financial assistant to generate the new job for the youth. So if you have any business idea in your mind, then you just apply for the loan amount and start your business.

Financial assistance under Mukhyamantri Yuva Udyami Yojana:

  1. Under this scheme, the project cost should be between Rs. 10 Lakh to 1 Crore
  2. government give an interesting grant of 5% of the total cost of the project per year for up to 7 years
  3. The guarantee fee will be paid at the current rate for up to 7 years
  4. State Government will provide 15% of the project cost as Margin Money( Maximum Rs. 12 Lakh)

Eligibility criteria for Mukhyamantri Yuva Udyami Yojana:

  1. Applicant must be resident of Madhya Pradesh state
  2. The applicant must have passed at least 10th Class
  3. The applicant age should be between 18 to 40 years
  4. The applicant should not be defaulter of any nationalized bank, cooperative bank or any financial institution
  5. If the applicant getting any financial assistance under state-level scheme such as udyami/swarozgar yojna then such person is not eligible for this scheme
  6. Applicant benefited only once in this scheme
  7. The scheme is available only to set up manufacturing or service industry

Documents required for Mukhyamantri Yuva Udyami Yojana:

  1. Identity proof such as Aadhaar card
  2. Age proof
  3. Domicile certificate
  4. Passport size photos
  5. Education certificates
  6. Bank account details
  7. Proposed Project report
  8. Caste certificates if applicable
  9. Machinery/tools/equipment current rate quotations if any

Amount and interest in the MMYUY Scheme

  • The loan amount sanction in this scheme between from Rs.1 Lakh to 1 Crore.
  • The rate of interest for seven year loan only 5%.
  • Guarantee fee will be paid for up to 7 years at the current rate.

How to apply for Mukhyamantri Yuva Udyami Yojana:

  1. Application form is available in concerned District Office
  2. Applicant visit concerned district office to collect the application form for free
  3. Fill the form along with attached all essential documents and submitted to district office for review
  4. Then the application forms will be reviewed and sorted in office. Applicants with incomplete forms will be called to complete the missing details in the forms
  5. After, applicant should have to submit a general project report for the proposed project along with application form
  6. Application forms then presented to the selection committee of respective department elected under the scheme
  7. Non-Eligible applications will be rejected
  8. Loans for the accepted applications will be disbursed within 15 days after the acceptance of the application

The successful beneficiaries of the scheme will then be given training by the state government to help setup and grow their business. However, this training will not be mandatory for the beneficiaries.

The detailed guidelines of Mukhyamantri Yuva Udyami Yojana are available at http://www.mpindustry.gov.in/MYUY_Scheme.pdf


Rajesh sharma

25-02-2018

Whether husband and wife both can sepretely be benefited under this yojna ? Please reply

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