Latest news with #MukhyamantriYuvaUdyamiVikasAbhiyan
Indian Express
a day ago
- Business
- Indian Express
CM-YUVA campaign: Govt launches drive to aid college students, unemployed youths start own ventures
The state government has launched a campaign across all 75 districts as part of which special teams of officials will visit universities, engineering colleges and other higher education institutions to identify students in their final year, as well as those who remain unemployed despite completing their studies. Once identified, eligible youth will be offered interest-free, collateral-free loans of up to Rs 5 lakh to help them start their own ventures and become job creators. The campaign is being run under Mukhyamantri Yuva Udyami Vikas Abhiyan (CM-YUVA). According to Sarveshwar Shukla, Joint Commissioner of Industries and nodal officer of the scheme, the primary goal of the Yogi Adityanath-led government is to empower every eligible, educated and progressive-thinking youth by helping them launch their businesses. The vision is to transition youth from 'seeking jobs' to 'creating jobs.' Along with financial support, technical guidance will also be provided to ensure the success of these entrepreneurial initiatives. To ensure effective implementation, specialised training is being provided to officials. A two-day capacity-building workshop was recently organised in Lucknow, focusing on improving the rollout of the scheme and enhancing the functionality of the CM Yuva Portal. These trained officials will soon begin visiting campuses to implement the scheme at the grassroots level. According to the government, more than 2.5 lakh youths have applied for loans under the initiative. Of these, more than 1.10 lakh applications have been forwarded to banks, and loans have been sanctioned to over 53,000 applicants, with 40,000 already receiving funds. Young entrepreneurs have started utilising these interest-free loans to launch ventures in sectors — from cake manufacturing and digital marketing to launch ventures in sectors — from cake manufacturing and digital marketing to interior design, laundry services, solar panel installation, tattoo studios and mineral water plants.
Time of India
24-05-2025
- Business
- Time of India
UP youth take up new careers with CM Yuva scheme
Lucknow: Stating that UP govt's flagship initiative — the Mukhyamantri Yuva Udyami Vikas Abhiyan (CM Yuva) — was rapidly emerging as a game-changer for aspiring young entrepreneurs across UP, an official spokesperson on Friday said that provisions under the scheme were encouraging people to take up new career choices. Tired of too many ads? go ad free now "So far, over 53,000 loan applications have been approved under the scheme, with more than 40,000 beneficiaries already receiving funds to set up their enterprises. Many of them have set up ventures in diverse sectors such as cake manufacturing, laundry services, digital marketing, interior and exterior designing, mineral water plants, tattoo studios and solar panel installation," the spokesperson said. Citing an example, officials said that Prabhnoor Kaur of Kanpur is a case in point. "Prabhnoor received training in cake manufacturing and took a loan of ₹4.25 lakh in Mar 2025 to start her own unit called 'Sweet Sculpt by Kaur'. Her business is running successfully, and she has employed two women," they said. Likewise, Yashwant Vishwakarma of Lalitpur used a Rs 5 lakh loan to start a tattoo studio while Anurag of Jaunpur began a solar panel installation unit with a loan of Rs 4.5 lakh. Both these people became job-givers from being job seekers. Yet another example was that of Aniket Singh in Chitrakoot. "Once a laundry worker in Gujarat, Aniket started his own laundry unit with a Rs 5 lakh loan. He now earns Rs 30,000-Rs 35,000 per month and employs three others," said the spokesperson. Launched in 2018 by the department of micro, small and medium enterprises (MSME), the CM Yuva scheme offers loans of up to ₹5 lakh with no interest or collateral. "This initiative is playing a pivotal role in boosting self-reliance among the youth and contributing to the state's larger goal of becoming a $1 trillion economy," the spokesperson said, reiterating that with a goal of establishing 10 lakh micro-enterprises over the next decade, the UP govt has earmarked Rs 1,000 crore in the 2024-25 budget for the scheme. The application process is entirely online via or
Time of India
06-05-2025
- Business
- Time of India
MSMEs must stay updated with market demands: CM
1 2 Lucknow: Chief Minister Yogi Adityanath on Tuesday called for continuous upskilling and modernisation of MSME units in the state to ensure they evolve with changing demand."With close to 96 lakh units, UP is home to the largest MSME base. The youth engaged in the sector, or aspiring entrepreneurs under the MYUVA scheme, must receive comprehensive and high-quality training before being granted loans," he said during a review of the department on CM outlined the importance of the MSME sector for the state as it contributes around 46% to UP's total exports while generating direct and indirect employment for over 1.65 crore people."It is necessary to use this sector to gain global recognition for UP's traditional craftsmanship, agro-based products, and innovation-led enterprises. All state schemes should prioritise the economic empowerment of youth, women, entrepreneurs and rural communities. We need to monitor these initiatives regularly to ensure effective implementation," he CM was informed that in 2023-24, over 3.21 lakh youth registered under the Mukhyamantri Yuva Udyami Vikas Abhiyan (MYUVA). Highlighting that a target of 1 lakh beneficiaries annually was set, yogi said coordination with banks should be strengthened and beneficiaries be trained before funds are released to the Vishwakarma Shram Samman Yojana, the number of trained artisans and toolkit distributions saw a significant jump, from 7,600 beneficiaries in 2018-19 to over 75,000 in 2023-24. The CM asked officials to further expand its the flatted factory complex as an effective approach to facilitate multi-unit industrial operations in limited urban spaces, the CM cited Kanpur as a successful example and recommended replicating the model in other cities as the Mukhyamantri Swarojgar Yojana, margin money of Rs 760 crore was disbursed against over 31,000 applications, creating approximately 2.5 lakh jobs, officials informed the the One District One Product (ODOP) initiative, the CM hailed it for having revived traditional crafts and small-scale industries across the 2018, margin money of Rs 635 crore was disbursed under the scheme, in addition to extensive support in training, marketing, design and technical assistance. He directed officials to enhance global branding, packaging, and design of ODOP outcomes to strengthen their competitiveness. The CM was informed that UP leads the nation with 77 products having received GI tags while registration was underway for an additional 25 products.A target was set to secure GI tags for 75 more products in the current financial year. To boost awareness and marketability of GI-tagged items, Yogi said relevant entrepreneurs should be registered as GI Authorised Users, helping preserve product authenticity and promote effective branding.
Time of India
03-05-2025
- Business
- Time of India
UP govt targets 1.5L entrepreneurs to fast-track MYUVA scheme
Lucknow: The Uttar Pradesh govt has fixed a target of 1.5 lakh beneficiaries for its flagship scheme, Mukhyamantri Yuva Udyami Vikas Abhiyan (MYUVA), for the financial year 2025-26. The initiative aims to provide support to aspiring entrepreneurs to establish self-employment ventures and contribute to the state's growing economy. The target was set in a recent review meeting held by the department of micro, small and medium enterprises and export promotion. The status, future targets and detailed plan for the scheme were discussed, said an official spokesperson on Saturday. "The campaign focuses not only on financial assistance but also on training, capacity building and easing the process of setting up new enterprises. For this, the govt has partnered with nationalised banks which are handling registration, application approval, and fund disbursement processes under the campaign," the official said. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Google Brain Co-Founder Andrew Ng, Recommends: Read These 5 Books And Turn Your Life Around Blinkist: Andrew Ng's Reading List Undo The official added that the banks have been directed to establish a clear framework for processing pending applications within a specified timeframe. Once approved, funds will be disbursed promptly to enable youth to launch their businesses. Data released by the department revealed that among the banks, State Bank of India (SBI) is leading in performance.
Time of India
21-04-2025
- Business
- Time of India
UP scheme to promote entrepreneurshipa hit; getting 2,500 applications per day
Lucknow: The state Micro, Small and Medium Enterprises department has decided to scale up the Mukhyamantri Yuva Udyami Vikas Abhiyan , the scheme aimed at promoting self-reliance among the unemployed Uttar Pradesh youth. The scheme has been receiving an average of 2,500 applications daily. "Since its launch in UP, the scheme received a record 2,07,158 applications. Of the total applications received so far, over 1.66 lakh were forwarded to banks. They further said that 44,521 applications were approved while loans were disbursed to 30,595 youth," said Alok Kumar, principal secretary, MSME department, here on Monday. Talking about the progress made in the 2025-26 financial year, Kumar said: "As of April 18, a total of 28,496 applications were received. Of these, 22,249 were sent to banks, which approved 4,029 proposals and disbursed funds to 2,124 beneficiaries. Within this brief span, around Rs 9 crore in margin money was sanctioned — a reflection of the govt's agility and the enthusiastic response from the youth." Adding that the departmental representatives were continuously coordinating with banks to maintain transparency and prevent file backlogs, he further said: "Beyond financial support, the department also provides crucial services such as technical training, marketing support, and mentorship to boost the success of these enterprises." Earlier, the spokesperson noted that this scheme gained immense popularity among youth. "From villages to cities, youth across the state are launching their businesses, fostering a culture of entrepreneurship and generating employment. The fact that more than 2,500 persons were applying under the scheme every day was a clear testament to the growing entrepreneurial spirit among the state's youth."
