MMKUY

The objective of this scheme is to provide financial assistance to the sons and daughters of farmers to establish their businesses. the government of Madhya Pradesh provided loans to the bank for all citizens of the state.

The Mukhya Mantri Krishak Udyami Yojana. the Department of Micro, Small & Medium Enterprises, Madhya Pradesh government gives loans up to ₹ 50,000 to ₹10,00,000 for financial assistance to the sons and daughters of farmers to establish their businesses. economically weak farmers will be able to become self-reliant by setting up their businesses and their weak economic condition will not become a hindrance to their progress.

Under this, 15% of the capital cost will be provided to the general category, and 20% of the capital cost will be provided to the BPL(Below Poverty Line) category. So that the citizens of the state will be inspired to establish their businesses. Through this scheme, the unemployment rate in the state will decline.

• The applicant must be a permanent resident of Madhya Pradesh.
• The age of the applicant should be between 18 to 45 years.
• Educational qualification should be a minimum of 10th class.
• The parents of the beneficiary should not have their agricultural land.
• The applicant should not be an income taxpayer.

> For projects worth Rs 10 lakh or more:-

• For general class 15% (maximum ₹12,00,000)
• For BPL category 20% (maximum ₹18, 00, 000)
• For women entrepreneurs, a 6% and male 5% interest subsidy
• the guarantee fee will be payable at the prevailing rate for a maximum of 7 years.

> For projects less than Rs 10 lakh:-

• 15% of the project cost (maximum ₹1,00,000 ) for the general category.
• BPL/ scheduled caste / scheduled 30% of the project cost (maximum ₹2,00,000) for Tribes / Other Backward Classes (except creamy layer) / Women / Minorities / Disabled.

> Additional provisions-

• 30% of the project cost (maximum ₹3,00,000) to the liberated nomadic and semi-nomadic tribes.
• Bhopal Gas victim family members are eligible for an additional 20% (maximum ₹1,00,000) on the project cost.
• At the rate of 5% per annum of the capital cost for projects of ₹10,00,000 or more and at the rate of 6 % per annum for women entrepreneurs, for a maximum of 7 years. (Maximum ₹5,00,000 per annum)
• For projects less than ₹10,00,000 5% of the project cost per annum rate and 6% for women entrepreneurs At the rate of per annum, for a maximum of 7 years. (Maximum ₹ 25,000 per annum)