Uttar Pradesh Chief Minister Yogi Adityanath announced on Thursday the launch of the Mukhyamantri Yuva Udyami Vikas Abhiyan (MYUVA) scheme, aimed at promoting entrepreneurship among the youth in the state.
During a meeting, CM Adityanath emphasized the allocation of budgetary funds for MYUVA and underscored the need for immediate implementation of this initiative.
The scheme intends to empower educated and skilled youth by creating self-employment opportunities and fostering the growth of Micro, Small, and Medium Enterprises (MSMEs) across Uttar Pradesh.
The Chief Minister stressed the importance of raising awareness about the scheme to encourage youth to pursue self-reliance and entrepreneurial ventures.
He directed the Principal Secretary of MSMEs to develop a detailed action plan for the initiative.
Under MYUVA, the government plans to provide financial support to 100,000 youth annually, enabling them to establish micro-enterprises through facilitated bank loans.
This initiative aims to generate 1 million self-employment opportunities over the next decade.
Beneficiaries of the scheme include those who have received training through various government programs such as the Vishwakarma Shram Samman Yojana, One District One Product Training and Toolkit Scheme, and other skill development initiatives.
Additionally, youth with certificates, diplomas, or degrees from educational institutions will be eligible for assistance.
The scheme also includes provisions for offering grants to general category individuals, OBCs, women, Divyangjans, and SC/ST individuals to establish enterprises.
Subsidies on margin money, interest-free loans, and coverage under the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) will also be provided.
To ensure effective implementation, the Chief Minister proposed assigning qualified youth to each district, similar to the deployment of CM Fellows in aspirational development blocks.
The state government has allocated Rs 1,000 crore in the 2024-25 budget to support this ambitious initiative.
CM Adityanath stated, “This innovative scheme is a significant step towards empowering our youth and fostering a culture of entrepreneurship in Uttar Pradesh.”
“We are committed to providing the necessary support and resources to help our young entrepreneurs succeed and contribute to the state’s economic growth,” he further added.
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