Madhya Pradesh: CM launches Mukhyamantri Udyami Kranti Yojana

State Govt will deposit Rs 140 cr in banks, announces Chouhan.

Staff ReporterUpdated: Wednesday, April 06, 2022, 12:07 AM IST
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Bhopal (Madhya Pradesh): Chief Minister Shivraj Singh Chouhan launched Mukhyamantri Udyami Kranti Yojna here on Tuesday saying employment was the priority of the state government.

Under the scheme, loans ranging from Rs 1 lakh to Rs 50 lakh will be made available to the youth for manufacturing, business and service sectors. Interest subsidy of 3% will be given to the youth taking loans.

The state level programme was held at Kushabhau Thackeray International Convention Center here, presided over by minister of small, micro and medium enterprises (MSME) and Science and Technology Omprakash Sakhlecha. Other ministers in Chouhan cabinet and officials concerned were also present in the programme.

Under the scheme, a youth will not have to give bank guarantee as the government will take the guarantee on behalf of the youth. For this, the state government will deposit a sum of Rs 140 crore in banks. The youth of those families whose annual income is up to Rs 12 lakh, will be able to get loans under this scheme.

The CM said, “The scheme brought new hope for the youth of the state. Today, loans worth about Rs 108 crore were provided to 2019 youth. Every month one day is being celebrated by the state government as Employment Day. Providing employment is like a yajna for us.”

Chouhan said, “Every youth of the state should have a smile on his face and should be brimming with self-confidence. Youth should become self-dependent. The state government is committed to providing employment. Mukhya Mantri Udyami Kranti Yojana is the beginning of a revolution in the state. Livelihood is the biggest concern of an individual, so the state government is trying a holistic employment and self-employment approach.”

He said a campaign had also been launched for recruitment in government service. School teachers, health workers were recruited. Along with this, the process of recruitment on the posts of police constable was in progress.

The scheme

  • Loans ranging from Rs one lakh to Rs 50 lakh will be made available to the youth for business and service sectors with 3% interest subsidy

  • Youth will not have to give bank guarantee as the government will take the guarantee on behalf of the youth

  • Youth of families with annual income up to Rs 12 lakh, will be able to get loans under this scheme

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