MP Mukhyamantri Udyam Kranti Yojana

Madhya Pradesh govt has launched Mukhyamantri Udyam Kranti Yojana (Chief Minister's Entrepreneurship Revolution Scheme) for youth development & upliftment. It provides loans to unemployed youth for setting up new manufacturing and service units in Madhya Pradesh.

Highlights

• Collateral-free loans to start your own business.
• Loan ranging up to ₹50 lakhs for manufacturing & up to ₹25 lakhs for the service sector.
• Borrowers also get an interest subsidy at 3% per annum on loans.
• You get a loan tenure of up to 84 months ( 7 years )

What is MP Mukhyamantri Udyam Kranti Yojana?

• The scheme provides collateral free loans to youth of Madhya Pradesh that are involved in MSME manufacturing & services sector. 
• The schemes aims to promote self employment opportunities among youth 
• The scheme provides financial assistance through collateral free loan, interest subsidy & guarantee cover under CGTMSE. 

Objectives

• Encourage entrepreneurship and self-employment among educated youth in MP.
• Promote balanced economic growth through the MSME sector development.
• Provide easy access to affordable finance and reduce unemployment.
• Support new industrial and service ventures with attractive loan terms.

Benefits of the MP Mukhyamantri Udyam Kranti

• Loan Support
  The scheme offers loans up to ₹50 lakhs to manufacturing and ₹25 lakhs to services sector 
• Interest Subsidy
  Offers a 3% interest subsidy on loans for up to 7 years, reducing the effective burden on entrepreneurs.
• No Collateral Requirement
  Loans are given without the need for collateral or a third-party guarantee, making it accessible for youth and new entrepreneurs.
• Supports Youth
  Available to Madhya Pradesh residents aged 18-45 years having a family income below Rs. 12 lakh per annum.

Financial Assistance Under the Scheme

Eligibility for MP Mukhyamantri Udyam Kranti Yojana

You are eligible if:

• You are a resident of Madhya Pradesh.
• You are aged between 18 to 40 years.
• You have passed at least 12th standard.
• Your family’s annual income is less than ₹12 lakhs.
• You hold a valid Udyam Registration Certificate.

You are not eligible if:

• Your family income exceeds ₹12 lakhs annually.
• You are defaulter with any bank or any other  financial institutions 
• You have availed similar benefits from other schemes 
• You do not possess a Udyam Registration Certificate.

Documents Required

• Simple project report (< Rs 10 lakhs) and Detailed Project report (≥ Rs 10 lakhs)
• Udyam Registration Certificate
• Birth Certificate 
• Income certificate
• Educational certificate

Application Process for MP Mukhyamantri Udyam Kranti Yojana

You can apply:

• Online by submitting the application through the MSME MP Online website
• Offline by visiting the nearby District Trade & Industry Centre.

Examples of Where This Scheme Can Be Used

• Ravi, a 27 year old from Indore, sets up a food processing unit with ₹20 lakh loan. He availed collateral free credit and interest subsidy under MMUKY
• Pooja, a 24 year old , from Bhopal, opens a digital marketing agency with a ₹10 lakh loan. She enjoys a 3% interest subsidy and full reimbursement of guarantee fees.
• Imran, a 30 year from old, from Jabalpur, starts a retail electronics store with a ₹15 lakh loan. He availed collateral-free credit and subsidy support for 7 years.