Under the chairmanship of Chief Minister Shivraj Singh Chouhan, the Cabinet has given its approval to start Mukhyamantri Udyam Kranti Yojana to connect educated youths of the State with self-employment. The benefit of the scheme will be available to the minimum 12th class pass youths of the State between the ages of 18 to 40 years.
Under the scheme, projects ranging from one lakh to 50 lakh rupees for manufacturing units and one lakh to 25 lakh rupees for service units or retail businesses will be approved. Interest subsidy at the rate of three per cent per annum and loan guarantee fee will be given to the beneficiary at the prevailing rate for a maximum of 7 years on the loan disbursed by the state government as financial assistance. The implementation of the scheme will be done through the online portal. Through this scheme, youths who want to set up industry, service or business will get loans at low interest rates through banks. Also, no collateral security will have to be given for bank loans.
In order to promote air connectivity for economic development in the state, the cabinet rationalized the rates of VAT on Aircraft Turbine Fuel (ATF) in Bhopal and Indore, similar to the rate of 4 percent fixed in Gwalior, Khajuraho and Jabalpur. It has been decided to reduce the current rate of VAT on ATF from 25 percent to 4 percent.
With this decision, the tourism and economic activities and hospitality sector will also get a boost due to the availability of air services from one city to another in the state. Also, due to the increase in air services, on the one hand, aeronautical institutions in the state will be attracted to operate air services from the cities of the state, on the other hand, air services will be available to the common people at concessional rates.
The Council of Ministers took the decision to give approval to the exemption to the Indian National Trust for Art and Cultural Heritage (INTACH) from the prescribed procedure of tender method of the state government on turnkey basis for the construction work of the memorial and museum...
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