The Uttar Pradesh government has launched a remarkable initiative under the Mukhyamantri Yuva Udyami Vikas Abhiyan to support budding entrepreneurs. This program provides interest-free loans of up to ₹5 lakh, enabling individuals to start their own businesses and contribute to the state’s economic growth.
Who Can Apply for the Scheme?
To be eligible for this scheme, applicants must meet the following criteria:
- Residency: Must be a permanent resident of Uttar Pradesh.
- Age: Should be between 21 and 40 years old.
- Education: Minimum qualification of 8th grade pass.
- Skill Certification: Applicants must have completed a government-approved training program or possess a certificate, diploma, or degree relevant to their business idea.
What Does the Loan Offer?
- Loan Amount: Up to ₹5 lakh with no collateral requirement.
- Interest Subsidy: 100% of the loan’s interest will be covered by the government for four years.
- Subsidy on Margin Money: 10% of the total project cost is provided as a subsidy.
Steps to Apply for the Interest-Free Loan
- Online Registration: Visit the official portal https://diupmsme.upsdc.gov.in and fill out the online application form.
- Prepare Documents: Gather essential documents such as proof of residency, age, educational qualifications, and skill certifications.
- Submit a Business Plan: Develop a detailed project proposal for your business in the industrial or service sector.
- Submit Application: Complete the application process by uploading all necessary documents and the business proposal online.
Skill Training Support
For individuals who lack the required skill certifications, the government provides five-day training sessions through the District Industries Center. This training equips aspiring entrepreneurs with the necessary knowledge and skills to set up their businesses successfully.
Contact for Assistance
If you have any queries or need help during the application process, you can visit the Deputy Commissioner of Industries’ office or your local District Industries Promotion and Entrepreneurship Development Center for guidance.
A Golden Opportunity for Aspiring Entrepreneurs
This interest-free loan scheme is a game-changer for young entrepreneurs in Uttar Pradesh. It empowers individuals to take charge of their economic future, promoting self-reliance and driving growth within the state. Take advantage of this incredible opportunity and start your entrepreneurial journey today!
