Unemployed migrant youth will get loans for self-employment, these are the conditions and the application process

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Mukhyamantri Swarozgar Yojana

Abstract
Mukhyamantri Swarozgar Yojana started in the state, CM Trivendra Rawat launched
25 lakh in manufacturing and up to Rs 10 lakh in service sector loans

In Uttarakhand, Chief Minister Trivendra Singh Rawat launched the Mukhyamantri Swarozgar Yojana at the secretariat. Under this scheme, loans will be available for projects up to Rs 25 lakh in manufacturing and up to Rs 10 lakh in the services sector. The objective of the scheme is to encourage entrepreneurship and migrant Uttarakhandis of the state for self-employment.

Inaugurating the scheme, the Chief Minister instructed the officials that information of the scheme should be conveyed to the villages. The scheme should be widely publicized through public representatives and district level officials. Under the scheme, the District Magistrate and the bankers should coordinate with each other to ensure that the beneficiaries do not have any problem in taking loans.

Margin money will be adjusted as a grant

The scheme will provide loans for all eligible manufacturing, service, and business activities through nationalized banks, scheduled commercial banks, cooperative banks. The MSME department will provide margin money as a grant under the scheme. According to the MSME policy, the maximum amount of margin money will be payable up to 25 percent of the total project cost in category A, 20 percent in category B, and 15 percent of the total project cost in category C and D, according to the MSME policy.

Margin money will be adjusted as a grant after the successful operation of the enterprise for two years. Under the scheme, the general category beneficiaries will have to deposit 10 percent of the project cost and special category beneficiaries as a five percent contribution.

Eligibility, conditions and application process

The applicant should be at least 18 years of age under the scheme. Educational qualification is not required. Under the scheme, financing facilities will be available in the industry, service, and business sectors. The applicant or his family member will be benefited only once under the scheme. The selection of beneficiaries will be done on a first come first serve basis in view of the project on receiving more applications.

This is the application process

Applicants will have to go to the General Manager and District Industries Centers or apply online. The Directorate of Industries will be the nodal department under the control of the MSME Department for implementation of the scheme. The District Industries Center will implement the scheme at the district level.

Steps taken towards reverse migration

The scheme has been started with the reverse migration of migrants returning to Uttarakhand. Uttarakhand will provide self-employment opportunities to the returning migrants due to the state’s enterprising youth and COVID-19. This will encourage skilled and unskilled artisans, handicrafts and unemployed youths to start their own business.

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