Mukhya Mantri Swavlamban Yojana
The Mukhya Mantri Swavlamban Yojana (MMSY) is implemented by the Department of Industries, Government of Himachal Pradesh and was notified on 23 February 2019. The scheme is designed to promote self-employment and entrepreneurship among Himachali youth by supporting the establishment of new enterprises in manufacturing, service, and trade sectors.
The primary objective of the scheme is to provide financial assistance in the form of capital subsidy, interest subsidy, and credit guarantee support to eligible entrepreneurs. It aims to reduce the cost of setting up businesses and improve access to institutional finance. For you as an MSME or startup entrepreneur in Himachal Pradesh, this scheme can significantly reduce your initial investment burden and borrowing cost, making it easier to start and sustain your enterprise.
Key Features
- Capital Investment Support - The scheme provides capital subsidy on plant and machinery and eligible civil works. For manufacturing units, technical civil works are capped at 25 percent of total investment.
- Interest Subsidy - Eligible units receive interest subsidy at 5 percent for a period of three years on loans up to ₹40 lakh, reducing the cost of borrowing.
- Credit Guarantee Fee Reimbursement - The scheme reimburses the fee paid under the CGTMSE scheme, helping entrepreneurs access collateral-free loans.
- Wide Sector Coverage - The scheme covers manufacturing, service, trade, and shop-based businesses, making it suitable for a wide range of MSMEs.
- Monitoring and Verification - Units are subject to physical verification and must remain operational for at least three years to retain benefits.
Financial Assistance
Eligibility Criteria
To qualify for benefits under this scheme, you must meet the following conditions:
- The applicant must be a bonafide Himachali.
- The applicant must be between 18 to 45 years of age at the time of application.
- The enterprise must be in manufacturing, service, trade, or shop category.
- The project must have DLC approval before implementation.
- The unit must obtain loan from a financial institution.
- The unit must commence commercial production within prescribed timelines.
- Payments for plant and machinery must be made through non-cash modes.
Documents Required
- Aadhaar Card
- Bonafide Himachali certificate
- Project report
- Bank sanction letter and loan details
- Bills and invoices of machinery and assets
- Udyam Registration
- Bank account details
Application Process
Option 1: Apply with Bullit, Recommended
Start instantly with our guided application support, where our team verifies eligibility, prepares documentation, and coordinates with the Industries Department on your behalf. Using our business loans and compliance calendar, you can track progress while focusing on project execution, we manage the application end-to-end.
Option 2: Apply Online / Offline (Government Process)
Online Process
- Visit the official Himachal Pradesh industry portal
- Register and submit project details along with Aadhaar and certificates
- Submit application to District Level Committee for approval
- After approval, approach bank for loan sanction
- Apply for subsidy after loan disbursement
- Track application status through portal
Offline Process
- Prepare project report and required documents
- Submit application to District Industries Centre
- Obtain DLC approval
- Approach bank for loan
- Submit subsidy claim with required annexures after loan disbursement
- Undergo physical verification by authorities
Frequently asked questions
What is the objective of MMSY?
The scheme aims to promote self-employment among Himachali youth by providing financial assistance for setting up new enterprises in manufacturing, service, and trade sectors.
Who implements the scheme?
The scheme is implemented by the Department of Industries, Government of Himachal Pradesh.
What is the maximum project cost allowed?
The total project cost including working capital should not exceed ₹60 lakh under the scheme.
What subsidy is available on capital investment?
Eligible applicants receive 25 percent subsidy, while women entrepreneurs receive 30 percent subsidy on eligible investment.
What is the interest subsidy under the scheme?
An interest subsidy of 5 percent is provided for three years on loans up to ₹40 lakh.
Is CGTMSE fee covered under the scheme?
Yes, the scheme reimburses the credit guarantee fee paid under CGTMSE.