Mukyamntri Yuva Udhyam Protsahan Yojana “MYUPY” was declared by Honourable Chef Minister Shri Ashok Gehlot in Rajasthan state budget 2023, to enhance the employment in the state of Rajasthan.
Eligibility Criteria:
A) The applicant should be an Individual.
B) The applicant age shall be less than 35 years and graduate.
C) The applicant must the native resident of Rajasthan.
D) The Project size under the scheme will be considered upto maximum of Rs. 1 crore.
E) This scheme is applicable for new units only not for existing units.
MAXIMUM BENEFITS UNDER MYUPY
CAPITAL SUBSIDY:
(a) If the applicant is a male candidate the capital subsidy will be given @15% of the project cost maximum ceiling of Rs. 5 Lakh.
(b) If the applicant is a female candidate the capital subsidy will be given @10% of the project cost maximum ceiling of Rs. 5 Lakh.
INTEREST SUBSIDY:
In addition to the capital subsidy the applicant also will be eligible for an Interest subvention upto 8% for the period of five years as per the scheme of “MLUPY.”
How to apply under MYUPY?
If you are interested to apply for the benefits under the scheme MYUPY you should take a complete help of your consultant to prepare the project report as per the scheme guideline and prepare the complete set of documents. The application process is offline with your respective DIC office.
What documents are required for apply under MYUPY?
A) Applicant KYC Documents (PAN, Aadhar, Photo, Mob. No. Email ID)
B) Udhyam Registration Certificate
C) Quotation of Machinery, Furniture, Equipments etc.
D) Project Report as per the scheme guideline and maintaining the proper ratio of Term Loan and CC limit.
E) Collateral Security if the loan amount is more than 10 lakh or as per the bank requirement.
F) Three year Income Tax Returns.