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MP govt launches scheme to give loan up to Rs 50L with subsidised interest rate for self-employment

Bhopal: With the aim to facilitate self-employment for the youth, Madhya Pradesh Chief Minister Shivraj Singh Chouhan launched 'Udyam Kranti Yojana' on Tuesday.

Under this scheme, the state government will give a loan guarantee of Rs 1 lakh - Rs 50 lakh for self-employment with subsidies on the interest rates. A goal has been set to benefit one lakh youth in the year financial year 2022-23. "We will give a guarantee on bank loans worth Rs 140 crores for self-employment. We are working towards providing government jobs to as many youths as possible. Besides that, we are working towards bringing investment. Madhya Pradesh alone has done exports worth Rs 40,000 crore. We will also bring a startup policy in the state," Chauhan said while launching the scheme.

Madhya Pradesh Home Minister Narottam Mishra said the state government has provided loans and subsidies to 16 lakh people for self-employment. Mishra further said that the state cabinet has decided to establish the country's biggest medical devices park in Ujjain on 360 acres.
Assembly elections in Madhya Pradesh are slated for 2023. (ANI)

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