As many as 4,391 cases have been sanctioned by banks till June 30, 2013 under Mukhyamantri Yuva Swarozgar Yojana launched since April 1 this year to help youths of Madhya Pradesh to set up their employment. Under the cases, Rs 100.99 crore has been sanctioned. During the period, banks have disbursed Rs 20.44 crore in 672 cases.
Under the scheme, the State Government provides 5 per cent interest subsidy for 5 years upto a maximum of Rs 75,000 on payment of loan installments regularly. Under the scheme, 20 per cent margin money is also being given on projects costing upto Rs 50,000. Under Credit Guarantee Trust for Micro and Small Enterprises Scheme, guarantee fee in first year and guarantee service fee for 4 years will be given.
There is no income limit for the scheme. Applicants of rural areas can submit application in Janpad Panchayat and urban area applicants in District Trade and Industries Centre. These applications are presented before task force committee which in turn sends them after approval to banks.
Under Mukhyamantri Yuva Swarozgar Yojana, 51,753 cases have been received this year against the target of 50,000 cases. After task force committee’s approval, 44,012 cases have been forwarded to banks.