Mukhyamantri Swarozgar Yojana – MP

About This Scheme:

The Mukhyamantri Swarozgar Yojana (MSY) was launched by the Government of Madhya Pradesh in 2014. Its goal is to promote self-employment instead of job dependency.

MSME - MP

Objectives:

• Reduce unemployment
• Promote entrepreneurship
• Encourage youth to become job creators instead of job seekers
• Support MSME (Micro, Small & Medium Enterprises)

Loan Details:

➤ Loan Range

• Minimum: ₹50,000
• Maximum:

             1. Business/Service sector: up to ₹10 lakh               2. Industry (manufacturing): up to ₹25 lakh

➤ Margin Money (Government Subsidy)

Category	Subsidy %	Maximum Limit
General	15%	₹1,00,000
SC/ST/OBC/Women/Disabled	30%	₹2,00,000 (or more depending on case)

**This subsidy reduces the total loan burden.

➤ Interest Subsidy

• 5% per year for general applicants
• 6% per year for women
• Provided for a fixed period (usually up to 5 years)

➤ Loan Guarantee

• Covered under CGTMSE(credit guarantee trust for micro and small enterprises)
• Means: No collateral (no property/security) required in many cases

➤ Repayment Period

• 3 to 7 years
• Includes a moratorium period (initial months with no EMI)

Who can apply? (Eligibility):

➤ Basic Requirements

• Age: 18 to 45 years
• Education: Minimum 5th pass
• Must be a permanent resident of Madhya Pradesh

➤ Additional Conditions

• Applicant should be unemployed/self-employed (small scale)
• Should not be a defaulter in any bank
• Should not have already taken benefit from similar government schemes

Business Eligible:

➤ Business Sector

• Retail shops
• Wholesale trade
• General stores

➤ Service Sector

• Mobile repair shop
• Cyber café
• Beauty parlour
• Repair centers

➤ Industrial Sector

• Small manufacturing units
• Food processing
• Agro-based industries

Development & Trainings:

• Mandatory training may be given before loan approval
• Organized by government agencies
• Helps in:

                1.   Business planning
                2.  Financial management
                3.  Technical skills

Documents Required:

• Aadhaar Card
• Residence proof (MP domicile)
• Educational certificate
• Passport-size photos
• Project report (business plan)
• Bank account details
• Caste certificate (if applicable)
• Income certificate

🪜 Application steps to Apply:

➤ Online Method

1. Visit MP government portal (MP Online / Mera Yuva portal)
2. Register yourself
3. Fill application form
4. Upload documents
5. Submit application

➤ Offline Method

1. Visit District Industries Centre (DIC)
2. Fill form
3. Submit documents
4. Application forwarded to bank

➤ After Submission

• Application is verified
• Interview/assessment may be conducted
• Bank approves loan
• Subsidy is linked to loan

Important Rules:

• Loan must be used only for the approved business
• Misuse can lead to cancellation
• Regular EMI payment required
• Business inspection may occur
• Only for Madhya Pradesh residents
• Requires basic education
• Approval depends on project feasibility
• Bank can reject weak business plans

Similar Schemes for Other States:

• Rajasthan Mukhyamantri Yuva Swarozgar Yojana
• UP - Mukhyamantri Yuva Swarozgar Yojana
• CMEGP Maharashtra

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