Information about the Scheme:

The scheme "Mukhya Mantri Yuva Udyami Yojana" was launched on 1st August 2014 by the Department of Micro, Small & Medium Enterprises, Government of Madhya Pradesh. The scheme provides loans of up to ₹10,00,000 to ₹2,00,00,000 to the citizens of Madhya Pradesh who want to set up their industries.

Benefits:

Financial assistance:
Margin money assistance: 15% of the capital cost of the project for the general category. (Maximum ₹ 12,00,000.)
20% of the capital cost of the project for BPL (Maximum ₹ 18,00,000)
Interest subsidy: At the rate of 5% per annum on the capital cost of the project and at the rate of 6% per annum for women entrepreneurs, for a maximum of 7 years. (Maximum Rs 5,00,000 lakh per year)
The guarantee fee will be paid at the current rate for up to 7 years.

Eligibility Criteria for Availing the Benefits:

1. Age: 18 to 40 years.
2. Educational Qualification: 10th pass.
3. Additional Criteria:
   The applicant should be a permanent resident of Madhya Pradesh.
   The benefit of this scheme can be availed only once.

Exclusions:

1. If the applicant is getting assistance under any other self-employment scheme, then he cannot avail of benefits under this scheme.
2. The applicant’s family should not be an income taxpayer.
3. The applicant should not be a defaulter of any bank.

Procedure to Avail the Benefits of the Scheme:

• Online
  
  1. Step 1: Visit the official website using the provided link
  2. Step 2: The homepage will appear, and you need to click on the application link for the Mukhya Mantri Yuva Udyami Yojana
  3. Step 3: Various departments associated with the scheme will be displayed. Choose the department that interests you
  4. Step 4: Choose the option for registration or sign-up if you are a new application. Click the submit button after entering your name, mobile number, password, and captcha code
  5. Step 5: After submitting, you will be registered on the portal
  6. Step 6: Now, you can log in to the portal and apply for the scheme.
• Offline
  
  1. Step 1: Complete the application form available on the mpmsme.gov.in online portal or
  2. Step 2: Attach all the required supporting documents as specified in the form
  3. Step 3: Apply for the District Trade and Industry Center
  4. Step 4: Once received, all applications will be registered
  5. Step 5: Within 15 days, the applicant will be informed about the status of their application, whether it is complete or incomplete
  6. Step 6: The applicant should also prepare a General Project Report (GPR) for the proposed activity and include it with the application.

Documents Required:

1. Detailed Project Report
2. Madhya Pradesh Native Certificate
3. Certificate of Educational Qualification
4. Date of birth certificate
5. If the land/building is on rent then the rent name
6. Quotations of current rates for machinery/equipment/ equipment

Source: https://www.myscheme.gov.in/schemes/myuy