UP News– The Uttar Pradesh government has approved the ‘Mukhyamantri Yuva Udyami Vikas Abhiyan,’ a new scheme aimed at promoting self-employment by offering subsidized loans for projects in the microenterprise and service sectors. During a cabinet meeting chaired by Chief Minister Yogi Adityanath, the scheme was granted approval, with a focus on leveraging the crucial role of Micro, Small, and Medium Enterprises (MSME) in the state’s economy. The maximum loan limit under the scheme is set at ₹5 lakh.
Uttar Pradesh Government Approves New Scheme to Boost Self-Employment through Subsidized Loans
MSME Minister Rakesh Sachan outlined the scheme’s ambitious goal of establishing 10 lakh micro units over the next decade, providing financial assistance to 1 lakh educated and trained youths annually. The initiative will primarily target applicants who have passed intermediate exams, though those with at least a Class 8 qualification will also be eligible. Candidates must have undergone training under government schemes such as the Vishwakarma Shram Samman Yojana, One District One Product Scheme, or Scheduled Caste/Tribe Training Schemes.
In addition to loans of up to ₹5 lakh, beneficiaries may also qualify for a second phase of the scheme, offering loans of up to ₹10 lakh. To encourage digital transactions, the scheme will grant an additional ₹1 per transaction, with a maximum grant of ₹2,000 per year.
Cabinet Approves ‘UP Agris’ Scheme to Boost Farmers’ Income
The cabinet also approved the ‘UP Agris’ scheme, designed to increase farmers’ incomes in underproductive regions like Bundelkhand and northeast Uttar Pradesh. The scheme will focus on districts such as Jhansi, Chitrakoot, Gorakhpur, Varanasi, Vindhya, Azamgarh, Basti, and the Devipatan division, aiming to boost agricultural productivity and support regional development.
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