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Union Home Minister Amit Shah, at an event on Uttar Pradesh Day, spoke about a special loan scheme for the youth. He said that the Uttar Pradesh government has created a system under which one lakh young people are given collateral-free and interest-free loans of up to ₹5 lakh every year. A 10 percent subsidy is also provided. So far, 1.3 lakh young people have benefited from this scheme, and a total of ₹5,322 crore in loans has been disbursed. This scheme is called the Chief Minister Youth Entrepreneur Development Campaign or MYUVA scheme.

The Uttar Pradesh government launched this scheme so that educated youth do not wander around looking for jobs, but instead become self-reliant by starting their own businesses. This scheme is designed to empower young people to become entrepreneurs. It provides loans of up to ₹5 lakh for small projects in the industry and service sectors. The loan is completely interest-free, and no guarantee or collateral is required. If a young person repays the first loan on time within 4 years, they can get a larger loan and additional subsidies. The government aims to create 10 lakh young entrepreneurs in the next 10 years, assisting 1 lakh young people every year.

Benefits of the MYUVA Scheme
This scheme is very important because unemployment is a major problem among young people today. Finding a job has become difficult. In such a situation, starting a small business is a good option. Since the loan is interest-free, the burden of repayment is reduced. The 10 percent subsidy saves money. With this, young people can start a shop, service center, small factory, or any other project. This not only generates income for themselves but also employs others. In a large state like Uttar Pradesh, this scheme strengthens the economy. Amit Shah said that this is a way to empower the youth.

The first benefit of this scheme is that there is no interest, so the monthly EMI is only the principal amount. The second benefit is that no property needs to be mortgaged. The third benefit is the 10 percent subsidy provided by the government. The fourth benefit is that timely repayment can lead to more loans and subsidies in the future, and the fifth benefit is that young people who have received training are given priority. For example, those who have received training under schemes like Vishwakarma Yojana, One District One Product, or skill development programs can easily obtain loans. So far, 1.3 lakh young people have received loans worth ₹5,322 crore, which shows that the scheme is working.

How to apply?
This is a completely online process. Go to the official website of the MSME Department of Uttar Pradesh: msme.up.gov.in or diupmsme.upsdc.gov.in.

Register in the MYUVA or Chief Minister Youth Entrepreneur Development Campaign section. Create your login. Then fill out the form.

This requires entering your name, age, education, project details, bank account, etc.
Upload necessary documents such as Aadhaar card, high school certificate, ration card, bank passbook, project report, and photograph.

After submitting the application, verification takes place at the District Industries Center (DIC) or the bank.

Upon approval, the loan is disbursed by the bank. The age limit is 21 to 40 years. Applicants must be residents of Uttar Pradesh. Minimum educational qualification is 8th or 10th pass. Applicants should not be bank defaulters.

This scheme is a golden opportunity for young people. Through this scheme, the government is supporting young people so that they become job creators instead of job seekers. If you also want to start your own business, you can apply for this scheme.

Disclaimer: This content has been sourced and edited from News18 Hindi. While we have made modifications for clarity and presentation, the original content belongs to its respective authors and website. We do not claim ownership of the content.