- Over 6,000 youth enterprises approved in Uttar Pradesh so far
- CM Yogi’s flagship programs achieve notable success in fostering self-employment among the youth
- Remarkable success for MYSY and MMGRY in promoting youth self-employment
- Quarterly report highlights the success of youth enterprise initiatives in UP
- MYSY and MMGRY schemes fulfilling entrepreneurial dreams of UP youth
- Uttar Pradesh aims to fund 7,500 units under MYSY, 5,648 units already approved
- Yogi govt provides Rs 25 lakh for industry and Rs 10 lakh for service sector
Lucknow: Chief Minister Yogi Adityanath’s flagship schemes, ‘Mukhyamantri Yuva Swarojgar Yojana’ (MYSY) and ‘Mukhyamantri Gramodyog Rojgar Yojana’ (MMGRY), aimed at fostering self-employment opportunities for the youth of the state, have shown remarkable success.
According to the quarterly report of the State Level Bankers Committee, recently presented to Chief Secretary Durga Shankar Mishra, over 6,000 small and large enterprises run by youth in the state have been approved under the MYSY. Additionally, out of the 723 units approved under the MMGRY, 605 have already received funding.
Target to provide funds to 7500 units
According to Sameer Ranjan Panda, the Convener of the Uttar Pradesh State Level Bankers Committee and General Manager of Bank of Baroda, the scheme aims to encourage the youth of the state to become entrepreneurs and create job opportunities for others. Under this scheme, the state government is providing financial assistance to the youth so that they can become self-reliant and successfully run their businesses.
The report states that under the Mukhyamantri Yuva Swarojgar Yojana, the goal was to provide funds to 7500 units. So far, 6259 units have been approved by the government, and 5648 units have received funds. Initially, the total margin money was set at Rs 14550 lakh, but so far, more than Rs 16360 lakh have been approved, and Rs 14821 lakh have been distributed to the youth.
As for the Mukhyamantri Gramodyog Rojgar Yojana, the goal was to benefit 800 units. Over 90 percent of these (723 units) have been approved, and 605 units, i.e. 76 percent of the target, have been funded.
Schemes fulfilling the dreams of young entrepreneurs
The Uttar Pradesh Mukhyamantri Yuva Swarojgar Yojana is a flagship scheme started by the state government to encourage the youth to pursue self-employment. Launched in September 2018, the scheme aims to help unemployed young people realize their entrepreneurial dreams by providing financial assistance and other support. Under this scheme, the state government offers loans of up to Rs. 25 lakh for setting up industries and up to Rs. 10 lakh for the service sector to eligible applicants. The nodal agency for this scheme is the District Industries Centre (DIC) in Kanpur.
Beneficiary must be at least 18 years old to meet the eligibility criteria
To be eligible for the Mukhyamantri Yuva Swarojgar Yojana, the beneficiary must be a resident of Uttar Pradesh, aged between 18 and 40 years. The minimum educational qualification required is passing high school, and the applicant should not be a defaulter with any nationalized bank. The annual income from all sources should not exceed Rs 2 lakh for OBC, minority, and general categories, and should not exceed Rs 2.5 lakh for SC-ST categories.
