Madhya Pradesh government launched Mukhyamantri Udyam Kranti Yojana

Chief Minister of Madhya Pradesh, Shivraj Singh Chouhan will launch the Udyam Kranti Yojana. According to officials, the MP Mukhyamantri Udyam Kranti plan was announced for the first time in November 2021, as per the MSME department’s gazette announcement, but it was never executed. Loans ranging from Rs. 1 lakh to Rs. 50 lakh would be offered to youth under this scheme for self-employment.

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KEY POINTS:

• The scheme’s unique feature is that the state government would provide a 3% interest subsidy as well as a bank guarantee.
• Udyam Kranti Yojana will be launched by Chief Minister Shivraj Singh Chouhan on Tuesday. According to officials, the MP Mukhyamantri Udyam Kranti plan was first introduced in November 2021, as per the MSME department’s gazette announcement, but it was never implemented.
• Young people will be able to apply for loans ranging from Rs. 1 lakh to Rs. 50 lakh under this plan. The proposal is unique in that the state government will provide a 3% interest subsidy in addition to a bank guarantee.

Mukhyamantri Udyam Kranti Yojana

• This scheme has been started by the Chief Minister of Madhya Pradesh Shri Shivraj Singh Chouhan ji.
• The announcement of the launch of this scheme has been made at the inauguration ceremony of Nagrodaya Mission.
• Under the Madhya Pradesh’s Chief Minister Udyam Kranti Yojana, loans will be provided to the youth of Madhya Pradesh to set up their own enterprise.
• The guarantee of the loan provided under this scheme will be provided by the government to the bank.

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