The Uttar Pradesh government has launched a special initiative to support young entrepreneurs called the Mukhyamantri Yuva Udyami Vikas Abhiyan (MYUVA) scheme.
Union Home Minister Amit Shah recently highlighted this scheme during Uttar Pradesh Day celebrations, explaining how it empowers youth to start their own businesses.
Under this scheme, 100,000 youth every year can get collateral-free, interest-free loans of up to ₹5 lakh, along with a 10 percent government subsidy.
So far, 1.3 lakh youth have benefited, with loans worth ₹5,322 crore disbursed.
How the MYUVA Scheme Helps Young Entrepreneurs
The goal of the MYUVA scheme is to make educated youth self-reliant and encourage them to create their own employment rather than searching for jobs.
Key benefits include:
Interest-free loans: Monthly payments only cover the principal, making repayment easier.
No collateral required: Youth don’t need to mortgage property.
10% subsidy: Reduces the cost of starting a business.
Future loans: Timely repayment within four years allows you to apply for larger loans and additional subsidies.
Priority for trained youth: Participants of programs like Vishwakarma Yojana, One District One Product, or skill development training get preference.
This scheme supports small projects in industrial and service sectors, like shops, service centers, or small factories.
By helping youth start businesses, the scheme not only generates income for the applicant but also creates jobs for others, strengthening the state economy.
Eligibility and How to Apply
To apply, candidates must meet the following criteria:
Age between 21 and 40 years
Resident of Uttar Pradesh
Minimum education: 8th or 10th standard
Must not be a bank defaulter
The application process is fully online:
Visit the official UP MSME websites: msme.up.gov.in or diupmsme.upsdc.gov.in.
Register under the MYUVA section and create a login.
Fill out the form with your personal and project details, bank account info, and education.
Upload documents like Aadhaar, school certificate, ration card, bank passbook, photograph, and project report.
After submission, your application will be verified at the District Industries Centre (DIC) or by the bank.
Upon approval, the loan will be disbursed directly by the bank.
This scheme is a golden opportunity for young people who want to become job creators instead of job seekers.
If you are interested in starting your own business, the MYUVA scheme provides financial support, guidance, and incentives to help you succeed.