Chief Minister Youth Entrepreneur Development Scheme: Under this scheme, youth will get interest free loan up to Rs 5 lakh

Chief Minister Youth Entrepreneur Development Scheme: The district’s kids have a fantastic potential to get government funding for growth and employment. The Chief Minister Yuva Udyami Vikas Yojana was launched by the state government in order to accomplish this. In this case, an interest-free loan of up to five lakhs would be provided for employment. The goal is to help 1,000 young people in Maharajganj.

According to Abhishek Priyadarshi, Deputy Commissioner of the Industry Promotion and Entrepreneurship Development Center, this new program would use financial aid to support and grow micro, small, and medium-sized businesses. One must apply online in order to get the advantages of the program. However, the application’s website has not yet been launched. The commencement time might be about 15 days. On any working day, the Deputy Commissioner of Industries, District Industry Promotion and Entrepreneurship Development Center Maharajganj, may be contacted for an application and other relevant information.

Interest-Free Loan to be Repaid within Four Years

Following selection, the candidate would get a loan of up to five lakh rupees for an industrial and service-related project with no interest. which must be given back within four years.

The Loan Amount will be Increased

The loan amount will be returned when the loan is repaid on schedule within four years. A maximum of 10 lakh rupees will be awarded in the second phase. However, half of the sum will be interest-free. The remaining 50% will be subject to interest at the rate of five percent. In three years, the second loan balance must be paid back.

Donations must be Deposited by the Recipient

Beneficiaries from the general category will be required to contribute 15% of the project’s cost, those from other backward classes will be required to contribute 12.5%, and those from Scheduled Castes, Tribes, or Divingjan would be need to contribute 10%. The grantee will get a margin money subsidy equal to 10% of the project cost or a maximum of five lakhs, whichever is lower.