Mukhyamantri Udyam Kranti Yojana 2024: Eligibility, Benefits and Online Apply

The government of Madhya Pradesh is implementing several youth development and upliftment schemes. Among them is the "Chief Minister's Entrepreneurship Revolution Scheme", also known as Mukhyamantri Udyam Kranti Yojana. Under this plan, Madhya Pradesh youngsters can apply for loans up to ₹25 lakh to start their businesses. This scheme encourages young people to work for themselves and offers loans between ₹1 lakh and ₹25 lakh. The Department of Micro, Small, and Medium Enterprises oversees the program.

An Overview of Mukhyamantri Udyam Kranti Yojana(MUKY)
On November 29, Madhya Pradesh's Chief Minister, Shivraj Singh Chouhan, announced the Mukhyamantri Udyam Kranti Yojana. Under this initiative, youth in the enterprise and service sectors will receive loans with a 3% interest subsidy.

The primary objective of the Chief Minister's Entrepreneurship Revolution Scheme is to incentivize educated Madhya Pradesh youth to pursue independent work. This program will give young people in rural and urban areas the chance to work for themselves. Under this initiative, the government would provide loans to unemployed youth, ranging from ₹1 lakh to ₹25 lakh, so that they can launch their enterprises.

This scheme provides collateral-free loans, giving young people the opportunity to start a business without needing to offer any security. Additionally, the Scheme provides an interest subscheme to reduce loan costs, enhancing the viability of projects and helping young entrepreneurs succeed in their businesses.

Eligibility Criteria for Mukhyamantri Udyam Kranti Yojana:
The applicant needs to be a permanent Madhya Pradesh resident.
Also, the applicant should be between 18 and 45 years old.
MoreoveScheme applicants must have completed at least the 8th grade.
Benefits under the Chief Minister's Entrepreneurship Revolution Scheme are available only if the schemeant's family annual income is ₹12 lakh or less.
If the applicant files income tax, they must provide their income tax details for the past three years.
The applicant should not be a beneficiary of any state or central government self-employment scheme.
This scheme is for entrepreneurs starting new businesses only.
Before applying, make sure applicants have never taken out a loan from a bank. If so, they ought not to be in arrears with any financial organization.

Benefits of the Mukhyamantri Udyam Kranti Yojana (MUKY):
This scheme allows young people without jobs in Madhya Pradesh to launch their own enterprises and achieve financial independence.
The government would provide young people with a seven-year, 3% interest subsidy under the Entrepreneurship Revolution Scheme.
The Chief Minister's Entrepreneurship Revolution Scheme will only assist those who are launching new firms.
To establish manufacturing units, the government will lend between ₹1 lakh and ₹50 lakh.
The government would offer loans ranging from ₹1 lakh to ₹25 lakh for launching a business in the service industry.

Mukhyamantri udyam kranti yojana online registration
To register for the Mukhyamantri Udyam Kranti Yojana, follow these steps:
Visit the official website of the Mukhyamantri Udyam Kranti Yojana.
On the homepage, click the "Apply" button.
A new page will appear, and you should select the "Create New Profile" option.
To log in to the Mukhyamantri Udyam Kranti Yojana, enter your full name, date of birth, gender, relationship details, relative's name, category, mobile number, email ID, and captcha code on the login page.
Click the "Create Profile" button to proceed.
Log in using your registered mobile number and date of birth.
Click on "Madhya Pradesh Chief Minister Udyam Kranti Yojana" to access the application form.
Fill out the form with all the required information.
Upload the relevant documents as instructed.
Finally, click the "Submit" button to complete your registration.

Mukhyamantri Udyam Kranti Yojana documents required
To profit from the scheme, the applicant needs to have the following records and data on hand:
Aadhar Card
Copy of Bank passbook
Address Proof
Ration Card
Identity Card
Mobile Number
Passport-size Photograph How do you check the status of your Mukhyamantri Udyam Kranti Yojana application? Visit the official website of MP Chief Minister Udyam Kranti Yojana. The home page of the MUKY Yojana website will load. Select the item labeled Application Status. Enter your date of birth and registered mobile number to log in. Once more, choose Application Status. Put down your reference number here. Look up and select the appropriate choice. The application status will be shown in the system.

MUKY Yojana Loan Application: Post-Process and Disbursement Guidelines
After the relevant department completes the initial eligibility verification, the application will be forwarded online to the respective bank branch. The bank branch will review the application and decide on its approval within a maximum of six weeks, in accordance with RBI guidelines.

If the loan application is approved, the bank branch will proceed to disburse the loan amount within one month and update the status on the portal. Additionally, the bank branch will submit a claim for the interest subsidy or loan guarantee fee subsidy online from the District Trade and Industry Center (DTIC) on behalf of the beneficiary.

The General Manager of the District Trade and Industry Center will handle the subsidy transfer. This transfer will be conducted online using the Direct Benefit Transfer (DBT) method, ensuring the funds are deposited directly into the beneficiary's loan account.

Applicants are advised to contact the District Trade and Industry Center in their respective districts for further details about the scheme.

Complaint Filing Process for MUKY Yojana :
Visit the official website of Udyam Kranti Yojana in Madhya Pradesh; the home page of the website will load.

Locate and select the Register a Complaint option on this home page menu.
The Udyam Kranti Yojana page will appear.
Once again, click the Register Complaint option.
You will see a grievance form appear on your screen.
Please fill out the MUKY Yojana form with all relevant information.
Select "Submit" from the menu.
This is the proper way to submit a complaint.

To check the status of a complaint under the Madhya Pradesh Chief Minister Udyam Kranti Yojana, visit the official website, click on the "Lodge Complaint" option, and then access the login page. Enter your username, password, and Captcha code to log in. Next, input your complaint reference number and click on the "Search" option to view the status.

Conclusion
The Muddc khyamantri Udyam Kranti Yojana benefits establish more micro-enterprises in the state and aims to reduce youth unemployment. Moreover, it provides an avenue for those young people who are unable to benefit from other government self-employment schemes, offering them the support needed to start their own businesses.

Additional Read:
How to apply for Mukhyamantri Laghu Udhyog Protsahan Yojana?

MSME Champions Portal: Comprehensive Support for Indian MSMEs

How to Apply for the Udyogini Scheme: A Complete Guide for Women Entrepreneurs

The Growth of MSME: Key Objectives & Benefits of the RAMP Scheme

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