The Mukhyamantri Yuva Udyami Protsahan Yojana (MYUPY) is a flagship initiative by the Government of Rajasthan, aimed at fostering entrepreneurship among the state’s youth. This scheme provides financial assistance and support to young individuals seeking to establish new enterprises in manufacturing, services, and trade sectors.

Key Services Offered

1. Financial Assistance

Loan Amount: Eligible youth can avail loans ranging from ₹25 lakh to ₹1 crore to set up new ventures.

Interest Subsidy:

6% interest subsidy on loans between ₹25 lakh and ₹1 crore.

Margin Money Subsidy:

Male applicants: 10% of the project cost, up to a maximum of ₹5 lakh.

Female applicants: 15% of the project cost, up to a maximum of ₹5 lakh. aapkarajasthan

2. Collateral-Free Loans Loans up to ₹10 lakh are provided without the need for collateral, making it easier for young entrepreneurs to access funding.

3. Project Report Assistance Financial support of ₹15,000 is provided to assist in preparing detailed project reports, ensuring that applicants have a well-structured plan for their proposed ventures.

4. Interest Rate Concessions Timely repayment of loans can lead to interest rate concessions of up to 6% per quarter, reducing the overall cost of borrowing.

🎯 Eligibility Criteria To qualify for the MYUPY scheme, applicants must meet the following criteria:

Age: Between 18 and 35 years.

Educational Qualification: Minimum of a graduate degree.

Residency: Must be a permanent resident of Rajasthan.

Type of Enterprise: Only new micro and small enterprises are eligible; expansion or modernization of existing businesses is not covered.

Sector: Applicable to manufacturing, service, and trade sectors.