If you are dreaming of starting your own business–a startup/micro enterprise–then capital can not be a barrier, as the Uttar Pradesh government has launched the "Chief Minister Yuva Udyami Vikas Abhiyan Yojana" (CM Yuva) to empower youth and encourage them to become self-employed. Under this scheme, youth are being provided interest-free and guarantee-free business loans to start new industries, manufacturing, or service sector businesses.

5 Major Benefits of CM Yuva Yojana

1. Young people starting a business for the first time are provided with a project cost of up to Rs 5 lakh, with a 100% interest subsidy, meaning you won't have to pay even a single rupee in interest.

2. Banks often require property or a guarantor for a loan, but under the CM YUVA scheme, the entire loan is covered by the Credit Guarantee Fund (CGTMSE). Therefore, you won't have to pledge any of your assets.

3. If you repay the Rs 5 lakh loan received in the first phase on time, you will become eligible to be granted a loan of up to Rs 10 lakh to expand your business in the second phase of the scheme. 

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4. The government also provides a special margin money subsidy on project costs.

5. Additionally, there is a provision for separate incentives for entrepreneurs who adopt digital transactions.

Who can benefit?

  • The beneficiary must be a resident of Uttar Pradesh. 
  • The applicant must be between 18 and 40 years of age.
  • Applicants must also have at least passed the 8th grade (those with an intermediate, ITI, polytechnic, diploma, or graduate degree are preferred).
  • Additionally, applicants who have received training under the Vishwakarma Shramik Samman Yojana, One District One Product (ODOP), or any other government skill development scheme (Skill India) are given preference. 
  • Furthermore, this benefit is only available for setting up a new industry or service sector.

How to Apply Online?

1. You need to visit the official portal of the Directorate of Industries and Enterprise Promotion (UP MSME) (diupmsme.upsdc.gov.in).

2. On the homepage, click on "Chief Minister Yuva Udyogik Vikas Abhiyan Yojana" on the homepage.

3. Next, you have to register online by entering your mobile number.

4. Then, fill in your personal information as requested in the application form.

5. Upload all the required documents and submit the form.

6. After this, verification will be done by the District Industries Centre (DIC) and the concerned bank. The loan amount will be disbursed post-verification.  


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