It is true to argue that the employment rate is not able to keep up with the exponential increase of the population. A substantial portion of the youth population is educated but unemployed. Some people have high goals and a strong desire to start their own business.

The Mukhyamantri Yuva Swarozgar Yojana was announced by the Uttar Pradesh state government in an effort to give the state’s educated but jobless youth more options for self-employment. Consequently, the NIC Upstate Center has developed an end-to-end computerized web interface to provide a consolidated platform for the implementation, elimination, and real-time monitoring of the program.

Uttar Pradesh announced the Mukhyamantri Yuva Swarojgar Yojana in an effort to provide work possibilities for the educated but unemployed young in the state.

Objectives

This program’s main objective is to lower the state’s unemployment rate by giving young people the financial support they need to launch their own enterprises. Several government agencies, depending on whether the applicant is from an urban or rural location, facilitate the scheme. 

Key Features

• To provide an educated unemployed youth with a source of income, either for himself or his family.
• According to government guidelines, the interest rate will vary based on the loan amount.
• This proposal will result in a lower unemployment rate in the Upper Peninsula.
• Projects under 4 lakh do not require collateral security.

Launch of Mukhyamantri Yuva Swarajgar Yojana

The Uttar Pradesh government has started the Mukhyamantri Yuva Swarozgar Yojana program to improve self-employment prospects for the state’s educated but unemployed youth. The NIC up-state center has established a web portal with end-to-end computerization to provide a single window system for scheme application, disposal, and real-time monitoring. On February 19, 2020, in Lucknow, Chaudhary Udaybhan Singh, hon’ble minister of state, MSME and export promotion, group, officially launched the portal in the presence of Sri Navneet Sehgal, IAS, principal secretary, MSME and export promotion, and Shri Govindaraju N.S, IAS, commissioner and director, directorate of industries.

Eligibility Criteria

1. The aspirant must be an Indian national and legally residing in Uttar Pradesh.
2. The applicant must be between the ages of 18 and forty.
3. The candidate should be assigned roles in both the public and private sectors.
4. The applicant should not have obtained a loan from another bank.
5. The applicant should not be a part of any other government job program.
6. Applicants must have a bank account linked to their cellphone number.
7. The applicant cannot have a history of financial delinquency with another bank or organization.
8. The applicant’s minimal educational requirement is a high school diploma or equivalent.

Who will benefit from the plan?

Men and women from scheduled castes, scheduled tribes, other backward groups, and general categories will benefit from this initiative. The Mukhyamantri Yuva Swarojgar Yojana has two sectors: industrial and service. The maximum loan amount for the industrial sector is 25 lacs, while for the service sector it is ten lacs. As a result, the margin money necessary for these two industries amounts to 25% of the overall loan.

Benefits of Yojana

• This program is available to Uttar Pradesh’s educated youth.
• Under MYSY U.P., women from scheduled castes and scheduled tribes will receive reservations.
• Benefits will be provided to the 21% of unemployed scheduled castes and scheduled tribes.
• According to this plan, many people will be employed if an individual establishes their industry.
• Following loan approval, the government will prioritize those working on cost-effective (lower-cost) units.
• The young person will receive a loan of rs. 25 lakh to launch an industry-related business and a loan of rs. 10 lakh to launch a service-related business.

Subsidy provided

Under the Mukhyamantri Yuva Swarozgar Yojana, the U.P. government will lend up to 25 lakhs for the establishment of an industry, up to 10 lakhs for any kind of commercial services, and up to 2 lakhs for small companies.

Industrial sectors that are included in this program

• Food processing industries
• Agricultural industries 
• Textile sector 
• Automobile sector
• Healthcare 
• Banking insurance and finance sector
• Construction activities 
• Telecommunication and electronics 
• Transportation and logistics 
• Retail businesses 
• Sports & physical education
• Tourism and hospitality 
• Beauty and wellness industries

Documents required

• Educational qualification certificate
• Aadhar card
• Pan card
• Resident certificate
• Passport size photo
• Income certificate
• BPL card
• Mobile number
• Project report /business plan
• Age certificate
• Caste certificate

How should one apply?

• Visit diupmsme.upsdc.gov.in to learn more.
• Click login and choose “Applicant Login” from the drop-down menu.
• Select the recently added user.
• Fill out the form as instructed.
• Click the “Submit” button.

Conclusion

The Mukhyamantri Yuva Swarozgar Yojana encourages self-employment and offers financial support in an effort to empower Uttar Pradesh’s youth. This program is a big step in the right direction toward lowering unemployment and promoting state economic development.