Mukhyamantri Yuva Swarojgar Yojana
Category: Business & Entrepreneurship
Level: State | State: Chhattisgarh

Details:
Chief Minister Youth Self-Employment Scheme CG MMYSY Yojana 2023 This scheme has been started by the state government to make the youth of Chhattisgarh self-employed and make them economically independent and self-reliant. To provide overall assistance like financial assistance, guarantee, training, and follow-up to the youth of the state in setting up industry service and business as self-employment, so that according to their ability and working capacity, they can easily help and get success in setting up their own enterprises. So that he can contribute to the economic progress while feeling his own responsibility

Benefits:
Loans from Banks / Financial Institutions
Under this scheme, loans will be provided to eligible youth for construction, service and business through banks / financial institutions, the limit of which will be as follows:-
Manufacturing Enterprises - Project cost up to Rs.25.00 Lakhs.
Service Industry - Project cost up to Rs.10.00 Lakhs.
Business - Project cost max Rs.2.00 lakh.

Guarantee Fee / Annual Fee Assistance
Beneficiary category
Guarantee Fee / Annual Service Fee for Credit Guarantee Trust of Government of India
General class
Guarantee fee on the loan amount sanctioned by banks / financial institutions and the annual service fee imposed for the next 04 years. 
SC/ST/OBC/Minority/Women/Disabled/ Ex-Servicemen / Naxal Affected
Guarantee fee levied on the loan amount sanctioned by the bank/financial institutions and the next 4 imputed annual services for years

Interest Subsidy
General class
5% subsidy from the date of first loan disbursement (period of five years As far as) Maximum limit Rs.50000 per annum on Term Loan On Working Capital Loan Rs. 25000 per annum.
SC/ST/OBC/Minority/Women/Disabled/Ex-Servicemen / Naxal Affected
8% subsidy from the date of first loan disbursement (period of five years As far as) Maximum limit on Term Loan Rs. 75000 p.a. Working capital loan Rs.40000 p.a.

Margin Money Grant
Beneficiary category
Margin money grant
General class
10% of the project cost sanctioned by banks/financial institutions subject to a maximum up to Rs. 100,000/-
OBC/Minority/Women/Disabled/Ex-Servicemen/Naxal Affected
15% of the project cost sanctioned by banks/financial institutions subject to a maximum up to Rs. up to 1,50,000/-
SC/ST
25% of the project cost sanctioned by banks/financial institutions subject to a maximum of Rs. up to 1,50,000/-


Eligibility Criteria:
1. The applicant should be a native of Chhattisgarh state.
   1. Applicant must have passed minimum 8th class.
   1. The age of the applicant should be between 18 to 35 years as of the date of application. (5 years relaxation in maximum age limit for SC/ST/OBC/Women/PWD entrepreneurs/Naxalite affected family members/Retired soldiers)
   1. The applicant should not be a defaulter of any nationalized bank / financial institution / cooperative bank.
   1. Only one person from a family will be able to apply.
   1. The annual income of the applicant&#39;s family is Rs. 3,00,000/- (In the definition of family, the applicant&#39;s husband/wife and children will be included (In case the applicant is unmarried, the income of the applicant&#39;s parents, unmarried siblings will also be included)
   1. Applicants who have taken benefit of grant under PMRYO, PMROSRIKA or any other scheme of the Government of India / State Government will not be eligible.