As the government of the states are continuously trying to tackle the problem of the unemployment. But still there Hugh youth are unemployed and free. So the government of the Madhya Pradesh find a way out to problem by providing the people a option to start the Business of their own.
As if you are interested to start the business and have plans for the same. Then read the article to get the information about the Mukhya Mantri Yuva Swarojgar Yojana.
Launch of MMYSY
Scheme is for the resident of the state Madhya Pradesh. Full name of the scheme is Mukhya Mantri Yuva Swarojgar Yojana which is Chief Minister Youth self employment scheme. Yojana was launched on August 1,2014.
Aim of the MP Swarojgar Yojana
Scheme is a financial assistance scheme which will help the people to set up small business to earn the money livelihood. The interested will be given assistance from the government in the form of loans.
Eligibility Condition for Scheme
If interested to apply then before you apply check whether you are eligible for the scheme.
- Candidate should be the permanent resident of the Madhya Pradesh state.
- Applicant should have at least completed class 5th to be part of the scheme.
- Age limit for the scheme set up is from 18 to 45 years.
- Contender should not be the declared defaulter by any of the bank.
- Applicant should not be getting benefit of loan under any other state or center scheme.
Documents for Swarojgar Madhya Pradesh Yojana
You have to give the documents, to gain the benefit of the scheme. Check the list of the documents as follows:
- Business Plan
- Identity proof
- Proof of Residence of Madhya Pradesh
- Educational qualification document
- Quotation for the machinery or the equipments needed for the Business set up.
Points of Use
- Candidate who belongs to the lower class such as BPL/SC/ST/OBC/Female have reservation of 30% ( Income not more than 2 Lac)
- General category 15% ( Income not more than 1 lac)
Financial Assistance under Yojana
You will get the financial assistance as mentioned earlier in the article.
- Project assistance from Rs. 20 k to Rs. 10 lac would be given by the state government.
- The guarantee fee has to be paid to the government upto 7 years.
- State government has set up 5% interest rate for the cost of the project.
- You can get the loan from the nationalized banks.
- Loan will be given without the bank guarantee for the small or the micro enterprises.
Apply for the MMYSY
You can apply for the scheme as it is very easy to get the benefit under the MMYSY scheme.
- Visit the nearby office in district.
- You can also get the application as follows from the page.
- Fill the application by giving the details accurately.
- Submit the application form along with the documents mentioned above.
- If your business plan is found to accurate, it will be accepted by the committee set up by the state government.
- Candidate who are not eligible their application would be rejected.
- After the approval of the application after 15 days the loan amount would be sanctioned to the applicant.