Two new schemes to boost entrepreneurship among youth, women from April 1: Minister
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State industries ministerSyed Shahnawaz Hussainon Tuesday said to boost among Women and youths, Mukhyamantri Mahila Udyami Yojana and Mukhyamantri Yuva Udyami Yojana will be implemented from April 1 this year.
Talking about the upcoming scheme for women and youths, he said a maximum of Rs five lakh will be given as a loan and up to Rs five lakh as a
grant. While women will not have to pay any interest on the loan, youth belonging to the general category will have to pay 1% interest. He further said there is a provision of a Rs 25,000 stipend for training purposes.
On the eligibility to get the benefit under this scheme, Shahnawaz said the beneficiary must be a resident ofBiharand should have a minimum qualification of intermediate, ITI, polytechnic diploma or equivalent. The minimum age is 18 years, and the upper age limit is 50 years. The unit should be either a proprietorship firm,PARTNERSHIP firm, limited liability partnership (LLP) firm or private limited company.