The Mukhyamantri Yuva Swarozgar Yojana(MYSY) is a government scheme by Uttar Pradesh. It helps young people start their own businesses.
The government provides financial assistance to unemployed youth who wish to start their own businesses as entrepreneurs.
This scheme provides loans and subsidies to educated young people. They can use this money to start small businesses in the industrial or service sectors.
The main goal is to create jobs and reduce unemployment in the state.
The scheme is run by the Directorate of Industries and Enterprise Promotion. It makes it easier for young people to obtain bank loans without requiring large guarantees.
Key Objectives of the Yojana
The Uttar Pradesh government created this scheme to address the issue of youth unemployment. It aims to turn young people into job creators rather than job seekers.
1. Addressing Unemployment
The scheme gives unemployed youth a clear way to earn money. Instead of searching for jobs, they can create their own work opportunities.
This directly reduces the number of jobless people in the state. Young people receive financial support to start businesses that align with their skills and interests.
2. Fostering Entrepreneurship
The government wants youth to think like business owners. The scheme provides training and money to help them succeed. It teaches young people to take risks and build companies.
This fosters a culture where people prefer starting their own businesses over working for others.
3. Economic Development
New businesses help the state’s economy grow stronger. When young people start companies, they create jobs for others as well.
These small businesses buy materials from local suppliers and pay taxes. This brings more money into Uttar Pradesh’s economy, making communities richer.
4. Promoting Financial Inclusion
Many young people are unable to obtain bank loans because they lack property to pledge. This scheme makes it easier for them to access formal banking services.
Banks feel safer lending money because the government provides part of the funds. Youth from poor families can now start businesses with bank support.
5. Reducing Rural-Urban Migration
When young people have opportunities in their own districts, they tend not to move to big cities. This helps keep families together and promotes the development of rural areas.
Local businesses serve local needs and keep money within the community. Skilled youth stay back to build their hometown’s economy.
Benefits and Financial Assistance
The scheme offers attractive financial support to help young entrepreneurs start their businesses successfully. The government provides both loans and direct money grants to reduce the burden on youth.
Key Benefits:
- Industrial sector loans up to ₹25 lakh with government support
- Service sector loans up to ₹10 lakh for business setup
- 25% margin money subsidy (maximum ₹6.25 lakh industrial, ₹2.50 lakh service)
- Special category benefits with 30% subsidy for SC/ST youth
- Low interest rates through nationalized and scheduled banks
- Training support is included to improve business skills
The margin money works as a grant that becomes a subsidy after two years of successful business operation. This reduces the actual loan amount the youth need to repay to banks.
Eligibility Criteria
Before applying, candidates must check if they meet all the basic requirements. The government has established clear rules to ensure that only genuine applicants receive benefits.
| Criteria | Requirement |
|---|---|
| Residence | Permanent resident of Uttar Pradesh |
| Age | Between 18 and 40 years |
| Education | Minimum high school pass or equivalent |
| Employment | Must be currently unemployed |
| Previous Benefits | Should not have received similar scheme benefits |
| Bank Status | Should not be a defaulter of any bank |
| Family Limit | Only one person per family can apply |
Only one family member can benefit from this scheme to ensure fair distribution. The government thoroughly reviews all details before approving applications.
Note: Special categories, such as SC/ST, women, and persons with disabilities, are entitled to additional benefits and more relaxed conditions.
Required Documents for Application
Applicants must arrange all necessary documents before beginning the online application process. Having the proper paperwork ready makes the application process smooth and efficient.
Essential Documents:
- Aadhaar Card for identity proof
- Permanent Residence Certificate (Domicile)
- High School Certificate for age and education proof
- Caste Certificate (if applicable for reservations)
- Project Report of the proposed business idea
- Bank account passbook copy
- Passport-sized photographs
- Mobile number for communication
- Affidavit certifying all eligibility conditions
- Educational qualification certificates
The Step-by-Step Application Process
The application process is completely online through the official UP MSME portal. Youth can apply from home without needing to visit government offices.
Application Steps:
Step 1: Visit the official UP MSME portal (diupmsme.upsdc.gov.in)
Step 2: Create a new user account with personal details
Step 3: Log in and fill out the complete application form carefully
Step 4: Upload scanned copies of all required documents
Step 5: Submit the application and save the acknowledgment receipt
Step 6: Wait for District Committee scrutiny and interview call
Step 7: Get bank approval for loan sanction and disbursement
Conclusion
The Mukhyamantri Yuva Swarozgar Yojana presents a significant opportunity for the youth of Uttar Pradesh to become entrepreneurs.
It provides easy access to loans, subsidies, and business support that were previously difficult to obtain. Young people with good business ideas but limited financial resources can benefit from this scheme.
The government’s financial support reduces the risk of starting a business. With proper planning and hard work, beneficiaries can build successful companies.
This scheme is changing how youth think about careers.
Instead of only looking for jobs, they are creating businesses that employ others. Take the first step towards your entrepreneurial journey and apply today for a self-reliant future.
