If you’ve been thinking of starting your own business, the Rajasthan government has launched a great opportunity.
The Chief Minister’s Youth Self-Employment Scheme (MYSY) aims to empower young people to become self-reliant.
Applications for the scheme are now open, just 10 days after its launch on January 12.
Youth can apply online using their SSO ID or through e-Mitra, making it easier than ever to get started.
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Big Financial Support for Young Entrepreneurs
Under this scheme, the government will provide interest-free loans of up to ₹10 lakh to help young people start micro-enterprises in the manufacturing, service, and trade sectors.
The state will cover the full interest, so applicants only need to repay the principal amount.
Additionally, the government will reimburse margin money up to ₹50,000 and cover CGTMSE fees, reducing the upfront burden for entrepreneurs.
Who Can Get How Much?
Applicants with 8th to 12th-grade education:
Service and trade sector: Loans up to ₹3.5 lakh
Manufacturing sector: Loans up to ₹7.5 lakh
Margin money up to ₹35,000
Graduates, ITI holders, and higher education:
Service and trade sector: Loans up to ₹5 lakh
Manufacturing sector: Loans up to ₹10 lakh
Margin money up to ₹50,000
This tiered approach ensures that youth of all educational backgrounds can benefit.
How to Apply
Open the ‘Mukhyamantri Yuva Swarojgar (MYSY)’ icon in the Citizen App of SSO ID.
Fill in your details including district, type of business, proposed work address, and project plan.
Upload the necessary documents.
Add details of the bank branch where you want to take the loan.
Applications are reviewed in weekly meetings at District Industries and Commerce Centres before being sent to banks for approval.
Documents You Need
Aadhar card
Basic address proof
Applicant’s photograph
Educational and technical qualification certificates
Ownership proof (if applying as an institution, more than 51% ownership must be held by eligible youth)
Eligibility Criteria
Must be a native of Rajasthan
Age 18 to 45 years
For HUFs, societies, partnership firms, LLPs, and companies: Must be registered legally and 51% or more ownership must be held by eligible youth
This scheme is a golden chance for young entrepreneurs in Rajasthan to start their own business with financial support and zero interest loans, helping them build a secure future.