What is the Uttarakhand Mukhyamantri Swarojgar Yojana?

The Uttarakhand government has created the Mukhyamantri Swarozgar Yojana. The scheme is for Uttarakhand immigrants who have returned to the state due to the coronavirus.

To stimulate self-employment, the government will provide loans of up to Rs. 25 lakh under this initiative. The loans enable young people to start or operate their own businesses, such as beauty salons, gyms, and mobile repair shops.

The purpose of Uttarakhand Mukhyamantri Swarojgar Yojana

The scheme’s principal purpose is to persuade ambitious young people in the State, migrants who have returned to Uttarakhand as a consequence of COVID-19, trained and unskilled artisans, handicraftsmen, and professional urban and rural jobless people to start their own enterprises or businesses.

Who is eligible for the Uttarakhand Mukhyamantri Swarojgar Yojana?

To be eligible for this scheme, applicants must:

• Become permanent residents of Uttarakhand.

• Be at least 18 years old.

• Not having profited from similar self-employment plans offered by the central or state governments in the previous five years.

• No specific educational credentials are necessary. 

Frequently Asked Questions (FAQs)

Can this system be used by the socially backward class or former service members?

Yes, of course. Applicants who belong to SC/ST, OBC, Minorities, Ex-servicemen/women, or PwD must send a certified copy of the certificate issued by the appropriate government along with their application form.

How much loan can I get from this scheme?

Under this initiative, the government will grant loans of up to 25 lakh for manufacturing and 10 lakh for the service industry.

Can I get this loan to start a trading business (like Kirana shop)?

No, you will not receive a loan for trading in this scheme.

What is the maximum project cost under this scheme?

The project should be between 25 lakhs for the manufacturing industry and up to 10 lakhs for the service sector.

How can I apply for the loan?

Eligible persons can apply for the loan at nationalized banks, regional rural banks, state cooperative banks, and other scheduled institutions. Applicants must provide a complete project report together with the appropriate documents. To boost the chances of loan acceptance, the applicant can create the project report on their own or with the help of an expert.

Additional Information

• Special consideration is given to candidates from socially disadvantaged groups, ex-servicemen, women, and those with impairments.

• The margin money contribution differs depending on MSME policy.  

Classifications:

• Category A includes up to 25% of the overall project cost.

• Category B and B+: Up to 20%.

• Category C and D: Up to 15%. 

Conclusion

The Uttarakhand Mukhya mantri Swarojgar Yojana is an important step in promoting entrepreneurship and self-reliance among the state’s residents. The scheme’s goal is to stimulate the local economy and provide long-term job prospects by giving financial assistance and supporting the formation of new businesses.