Lucknow : On Thursday, Uttar Pradesh Chief Minister Yogi Adityanath emphasised the urgent need for implementing the Mukhyamantri Yuva Udyami Vikas Abhiyan (MYUVA), a new scheme aimed at bolstering youth entrepreneurship across the state. During a meeting, the Chief Minister highlighted that funds had already been allocated for MYUVA in the state budget, and it was now time to put the plan into action.
The MYUVA scheme is designed to support educated and skilled youth by offering self-employment opportunities and promoting the creation of new Micro, Small, and Medium Enterprises (MSMEs). The initiative is a strategic move to enhance economic opportunities for the younger population in Uttar Pradesh.
Key Features of the Scheme
The Chief Minister underscored the importance of increasing awareness about MYUVA to encourage young people to become self-reliant and pursue entrepreneurship. The Principal Secretary of MSMEs was tasked with creating a comprehensive action plan for the scheme. According to the plan, MYUVA will provide financial grants to 100,000 youths annually, facilitating loans from banks to help establish 100,000 micro enterprises each year.
Over the next decade, the scheme aims to create opportunities for one million youths to engage in self-employment. This ambitious plan reflects the government’s commitment to fostering entrepreneurship and economic independence among the younger generation.
Eligibility and Support
Eligible beneficiaries under MYUVA include individuals who have completed training through various government schemes, such as the Vishwakarma Shram Samman Yojana, One District One Product Training and Toolkit Scheme, Scheduled Caste, Tribe, and Other Backward Class Training Schemes, and Skill Upgradation programmes under the Uttar Pradesh Skill Development Mission. Additionally, youths with certificates, diplomas, and degrees from educational institutions will also qualify for the scheme’s benefits.
To ensure inclusivity, the Chief Minister instructed officials to make provisions for offering grants to various categories, including the general category, OBCs, women, Divyangjans, and SC/ST individuals. The scheme will also offer subsidies on margin money to make the entrepreneurial journey more accessible.
Financial and Logistical Support
To facilitate effective implementation, the Chief Minister proposed that interest-free loans should be provided to young entrepreneurs through interest subsidies and coverage under the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE). This financial support will be available for the fixed period of the loan, ensuring that new businesses have a stable financial foundation.
Additionally, the Chief Minister directed that qualified youth be assigned to each district, similar to the CM Fellows deployed in aspirational development blocks. This approach is intended to ensure that the scheme is effectively executed and that beneficiaries receive adequate support.
The Uttar Pradesh government has earmarked Rs 1,000 crore in the Budget for the financial year 2024-25 to support the Mukhyamantri Yuva Udyami Vikas Abhiyan, underscoring its commitment to promoting youth entrepreneurship and economic development.