Yuva Udyami Yojana: Uttar Pradesh government provides financial assistance of up to 5 lakhs to the youth of its state for new employment, know what is the eligibility required for this and the special features of this scheme
Yuva Udyami Yojana: If you are thinking of starting your own business but you do not have money, then do not worry, the government will give you money to start the business. Under the Uttar Pradesh government Mukhyamantri Yuva Udyami Yojana Vikas Abhiyan.
The Uttar Pradesh government is giving interest-free loan up to ₹ 500000 to the youth of Uttar Pradesh in which you do not need any guarantee, this interest-free loan is available to you without any guarantee and apart from this, you do not have to pay any EMI for 6 months, while if you repay this loan in 4 years, then you can also get a loan of Rs 7.5 lakh at an interest subsidy of 50% from the government. Let’s know more about it
What is Mukhyamantri Yuva Udyami Yojana?
Mukhyamantri Yuva Udyami Yojana is a scheme of the Uttar Pradesh government which has been started to provide employment to the youth of Uttar Pradesh. Through this scheme, financial help is given to the youth to start employment in which interest-free loans are given to the youth who wish to start a business, along with this, training is also given by the government for the business you want to do.
Features
You do not need any kind of guarantee to take a loan under Yuva Udyami Yojana. This loan is interest free i.e. you do not have to pay any kind of interest in it. In this scheme, the government provides employment to 100000 people every year. In this scheme, 10% of the project cost is given by the government in the form of margin money subsidy. In this scheme, after repaying the first phase loan, you get the second phase loan.
Margin money has to be paid
Under Yuva Udyam Yojana, interest free loan of upto ₹500000 is available, but for this you have to pay some margin money, this margin money has been determined according to different categories, in this 15% margin money has to be paid for general category, 12.5% margin money has to be paid for OBC and SC, ST, Divyang and backward class people have to pay 10% margin money.
Who is eligible for this?
To apply in Yuva Udyami Yojana, the applicant must be a resident of Uttar Pradesh. The applicant must have passed at least class VIII. To apply in this scheme, the applicant should be between 21 and 40 years of age. The benefit of this scheme will be available only when the applicant gets training under the schemes run by the government.
