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Mukhyamantri Yuva Swarozgar Yojana Uttar Pradesh
Mukhyamantri Yuva Swarozgar Yojana
Uttar Pradesh

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It is true to argue that the employment rate is not able to keep up with the exponential increase of the population. A substantial portion of the youth population is educated but unemployed. Some people have high goals and a strong desire to start their own business.

The Mukhyamantri Yuva Swarozgar Yojana was announced by the Uttar Pradesh state government in an effort to give the state’s educated but jobless youth more options for self-employment. Consequently, the NIC Upstate Center has developed an end-to-end computerized web interface to provide a consolidated platform for the implementation, elimination, and real-time monitoring of the program.

Uttar Pradesh announced the Mukhyamantri Yuva Swarojgar Yojana in an effort to provide work possibilities for the educated but unemployed young in the state.

Objectives

This program’s main objective is to lower the state’s unemployment rate by giving young people the financial support they need to launch their own enterprises. Several government agencies, depending on whether the applicant is from an urban or rural location, facilitate the scheme.

Key Features
- To provide an educated unemployed youth with a source of income, either for himself or his family.
- According to government guidelines, the interest rate will vary based on the loan amount.
- This proposal will result in a lower unemployment rate in the Upper Peninsula.
- Projects under 4 lakh do not require collateral security.
Launch of Mukhyamantri Yuva Swarajgar Yojana

The Uttar Pradesh government has started the Mukhyamantri Yuva Swarozgar Yojana program to improve self-employment prospects for the state’s educated but unemployed youth. The NIC up-state center has established a web portal with end-to-end computerization to provide a single window system for scheme application, disposal, and real-time monitoring. On February 19, 2020, in Lucknow, Chaudhary Udaybhan Singh, hon’ble minister of state, MSME and export promotion, group, officially launched the portal in the presence of Sri Navneet Sehgal, IAS, principal secretary, MSME and export promotion, and Shri Govindaraju N.S, IAS, commissioner and director, directorate of industries.

Eligibility Criteria
1. The aspirant must be an Indian national and legally residing in Uttar Pradesh.
2. The applicant must be between the ages of 18 and forty.
3. The candidate should be assigned roles in both the public and private sectors.
4. The applicant should not have obtained a loan from another bank.
5. The applicant should not be a part of any other government job program.
6. Applicants must have a bank account linked to their cellphone number.
7. The applicant cannot have a history of financial delinquency with another bank or organization.
8. The applicant’s minimal educational requirement is a high school diploma or equivalent.
Who will benefit from the plan?

Men and women from scheduled castes, scheduled tribes, other backward groups, and general categories will benefit from this initiative. The Mukhyamantri Yuva Swarojgar Yojana has two sectors: industrial and service. The maximum loan amount for the industrial sector is 25 lacs, while for the service sector it is ten lacs. As a result, the margin money necessary for these two industries amounts to 25% of the overall loan.

Benefits of Yojana
- This program is available to Uttar Pradesh’s educated youth.
- Under MYSY U.P., women from scheduled castes and scheduled tribes will receive reservations.
- Benefits will be provided to the 21% of unemployed scheduled castes and scheduled tribes.
- According to this plan, many people will be employed if an individual establishes their industry.
- Following loan approval, the government will prioritize those working on cost-effective (lower-cost) units.
- The young person will receive a loan of rs. 25 lakh to launch an industry-related business and a loan of rs. 10 lakh to launch a service-related business.
Subsidy provided

Under the Mukhyamantri Yuva Swarozgar Yojana, the U.P. government will lend up to 25 lakhs for the establishment of an industry, up to 10 lakhs for any kind of commercial services, and up to 2 lakhs for small companies.

Industrial sectors that are included in this program
- Food processing industries
- Agricultural industries
- Textile sector
- Automobile sector
- Healthcare
- Banking insurance and finance sector
- Construction activities
- Telecommunication and electronics
- Transportation and logistics
- Retail businesses
- Sports & physical education
- Tourism and hospitality
- Beauty and wellness industries
Documents required
- Educational qualification certificate
- Aadhar card
- Pan card
- Resident certificate
- Passport size photo
- Income certificate
- BPL card
- Mobile number
- Project report /business plan
- Age certificate
- Caste certificate
How should one apply?
- Visit diupmsme.upsdc.gov.in to learn more.
- Click login and choose “Applicant Login” from the drop-down menu.
- Select the recently added user.
- Fill out the form as instructed.
- Click the “Submit” button.
Conclusion

The Mukhyamantri Yuva Swarozgar Yojana encourages self-employment and offers financial support in an effort to empower Uttar Pradesh’s youth. This program is a big step in the right direction toward lowering unemployment and promoting state economic development.

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July 31, 2024
How To Track Business Expenses
How To Track
Business Expenses

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How Can Business Expenses Be Tracked?

The first step in doing so is to separate your company and personal spending. This can help you figure out how much money you’re spending as a small business owner. Thus, controlling your expenses will boost profitability.

Many small business owners keep track of their expenses using Microsoft Excel. However, as your firm grows, this strategy increases the likelihood of human mistake and can be difficult to organize.

What are the company expenses?

Business expenses are those expenses that are directly related to launching and operating a business. They include merchandise purchases, wages and salaries, and so on.

There are two categories of business expenses: cost of goods sold, which are the costs of manufacturing your product, and running expenses, which include rent, salaries, business licenses and permits, and self-employment.

Businesses must manage and categorize their spending since some expenses can be claimed as tax deductions, resulting in significant cost savings. This implies you’ll pay less in taxes. It will show lenders that your company is financially responsible and may be a dependable borrower should you require finance.

Follow these steps to track business expenses:

1. Open a bank account for your business.

You will have to open a business bank account as a newly formed company owner. When using your personal bank account for business purposes, as is sometimes the case, keeping track of and accurately recording your costs would be lot simpler with a dedicated business account.

You must open:
- A company checking account
- A savings account for commercial purposes
- A credit card for businesses
- 2. Select a suitable accounting program
You can choose the type of accounting system that is best for your company. Although selecting an accounting software program that suits your needs is the ideal course of action, spreadsheet programs like Microsoft Excel can also be used to keep track of your company’s revenue and outlays.

3. Taking Care of Receipts

The following are some methods to maintain the organization of paper receipts:
- Store business paper receipts in a different envelope in your handbag or purse.
- Employ file folders. Create one for every month of the year and file your receipts appropriately.
- Put binders to use. Invest in plastic sleeves and mark them according to the month or category.
Digital receipts may be stored, and there are a lot of apps available to make this process simpler.

4. Make a Spreadsheet

This option is suitable if you want to track your spending using a low-tech method when you first start your firm. As your company expands, you should employ a more advanced tracking system.

To batch add expenses, spreadsheets are also simple to upload into accounting software. Create a Google or Excel spreadsheet with the following columns:

5. Choose an accounting technique.

For small business owners, the most straightforward accounting technique is the cash-basis method. When using the cash approach, you record expenses as soon as you make a payment and income as soon as you get it.

Compared to the cash-based approach, the accrual basis is more complicated and makes use of more accounting categories. Regardless of when you receive payment or receive income, accrual accounting records income and expenses as they are incurred.

When choosing your accounting method, keep your company’s size in mind.

6. Track and evaluate business purchases using software.

Most accounting software packages build categories for expenses. You’ll spend less time preparing your tax returns as a result.You can manage personal capital, compute monthly spending, and even sync your credit or debit card with a lot of budget tracking applications.

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July 31, 2024
What Is Jammu And Kashmir Self Employment Scheme
Jammu And Kashmir
Self Employment Scheme

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The Jammu and Kashmir Self Employment Scheme was implemented by the state government to create self-employment opportunities. As part of this program, the government grants financial assistance to entrepreneurs seeking to launch a new enterprise. The J&K Self Employment Scheme is being implemented in collaboration with the Ladakh Autonomous Hill Development Council in Kargil.

Key Targets of the Jammu and Kashmir Self Employment Scheme:

Increasing work prospects in Jammu and Kashmir while also tackling rising unemployment in the state’s rural districts.
To encourage Jammu and Kashmir’s youngsters to start their own businesses.
Providing and fostering self-employment throughout the state.
Including local indigenous in the mainstream development process.
Bringing normalcy to the state by promoting the establishment of local businesses through financial help.

What are the eligibility requirements for the Jammu and Kashmir Self-Employment Scheme?
- The general category applicants’ age must be between 18 and 42.
  Relaxation is provided for women and those who are SC/ST, ex-servicemen, or physically disabled.
- Educational Qualification: The applicant must have a middle-class pass certificate.
- The applicant should not have taken out a loan to start his own business from any bank.
- Any permanent resident of the state is entitled to apply.
- The applicant must be unemployed.
Cost of the project:
- This scheme allows the candidate to get Rs.2 lakhs as a retail merchant.
- Business associated to Industry/Service might obtain support up to Rs. 3.00 lakhs.
- Joint Ventures (minimum of two persons) might receive Rs.10.00 lakhs for their business.
Credit Pattern:
- Bank Loan: 75%
- Contribution of Applicant: 5%
- Margin Money: 15%
- Capital subsidy: 5 % (Maximum of Rs.7500)
What are the documents required for the Jammu and Kashmir Self Employment Scheme?
- Matriculation Certificate
- Required documents include a qualification certificate, project report/business plan, and an affidavit stating that the applicant has not received any bank loans or financial aid.
- Residential proof.
- Certificate from the Gazetted Officer indicating that the candidate is not working.
- Identification Certification from a Gazetted Officer
- Caste certificate.
Conclusion

An important factor in encouraging entrepreneurship, boosting economic growth, and generating job possibilities in the area is the Jammu and Kashmir Self-Employment Scheme. Through the provision of financial aid, training, and support services, the program enables young people to follow their entrepreneurial goals and make a positive impact on Jammu and Kashmir’s overall development and prosperity.

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July 31, 2024
Rajiv Gandhi Swavlamban Rozgar Yojana (RGSRY)
Rajiv Gandhi Swavlamban
Rozgar Yojana (RGSRY)

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The Rajiv Gandhi Swavlamban Rozgar Yojana (RGSRY) was conceived, organized, and administered by the Delhi Khadi & Village Industries Board, with support from the Government of the National Capital Territory of Delhi. The goal is to create job possibilities for unemployed youngsters, craftsmen, qualified professionals, skilled workers, and entrepreneurs by promoting lawful manufacturing, trades, tertiary, and service sectors.

What are the eligibility requirements for the Rajiv Gandhi Swavlamban Rozgar Yojana (RGSRY)?
- Dropouts from school or college beyond the age of 18.
- Aspiring entrepreneurs.
- The applicant’s age must be between 18 and 50 years.
- Small-scale industrial operations incur complete costs for plants, machinery, and equipment. It shall not exceed the limit set by the Central Government for small-scale entities.
- It must be located in the jurisdiction of the National Capital Territory of Delhi.
- Applicants from any technical/professional institution recognized by the government or its sanctioned undertakings without additional training.
Under these regulations, financial support in the form of a loan may be provided to any of the following groups/sectors for eligible projects:
- Secondary Sector (Small Industries).
- Tertiary (Trade, transportation, hostels, restaurants without alcohol and meat, etc.)
- Services (According to the Terms and Conditions, provisions of local bodies, and the Delhi Master Plan.)
Conditions:
- The loan will not be approved if the government or any government-controlled financial organization has already issued a loan for the same purpose.
- The borrower must use the loan for the purpose for which it was advanced within three months. Otherwise, misusing the loan will result in the imposition of 18% interest, with the option of reclaiming the principal amount.
What are the benefits of Rajiv Gandhi Swavlamban Rozgar Yojana (RGSRY)?

The functioning units would receive loans of up to Rs. 3,000,000. (Provided that the applicant pays at least 10% of the amount requested as a loan from the DKVIB).
Weaker sectors, such as SC/ST/OBC/PH./Females/Ex-Servicemen, demand only a 5% contribution from entrepreneurs.
The Delhi government would grant a 15% subsidy on project costs, up to a maximum of Rs. 7,500.00 per entrepreneur.

What documents are required for Rajiv Gandhi Swavlamban Rozgar Yojana (RGSRY)?
- Passport-size photographs of the applicant (2)
  ID Card, Copy of Valid Passport, Aadhar Card, and Electoral Photograph of the applicant.
- Educational Qualification Certificate
- Project Report/Business Plan
- Affidavit in the prescribed format.
- Electricity Bill (Proof of Residence)
A business plan, often known as a project report, is an important document when requesting for a bank loan. The bank utilizes this document to assess the project’s overall feasibility, risks, financial viability, and potential. A well-written and convincing project report improves the likelihood of loan acceptance. With Finline, you can create a captivating project report in less than 10 minutes. That, too, is in your language. Furthermore, all public and private sector banks operating in India approve our project report.

Conclusion

The progressive Rajiv Gandhi Swavlamban Rozgar Yojana (RGSRY) seeks to advance entrepreneurship, self-employment, and rural development in India. Through the provision of financial aid, skill development, and additional support services, the program enables jobless young people to achieve self-sufficiency, fulfill their dreams of becoming entrepreneurs, and foster the socio-economic advancement of the country.

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July 31, 2024
Medical Practitioner Scheme Tamilnadu
Medical Practitioner
Scheme Tamilnadu

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The Medical Practitioner Scheme in Tamil Nadu is a state-sponsored project that provides financial help and support to medical practitioners. This program is intended to assist doctors and healthcare professionals in establishing or expanding their medical practices, hence providing better healthcare services to the general public.

What are the main Objectives of the Medical Practitioner Scheme

The primary goals of this scheme are to:
- Enhance Healthcare Services: Increase the quality and accessibility of healthcare services in Tamil Nadu.
- Financial Assistance: Provide financial assistance to medical practitioners who are opening or upgrading clinics and hospitals.
- Encourage physicians to become entrepreneurs and contribute to the healthcare industry.
- Employment Generation: Create job possibilities in the healthcare sector.
- Rural Development: Improve healthcare services in rural and underserved communities.
What are the eligibility requirements for the Medical Practitioner Scheme?

To qualify for the Medical Practitioner Scheme, applicants must meet the following criteria:
- Qualification: In any branch of medical science, such as MBBS/BDS with PG or diploma specialization. As a result, the applicant must hold a degree from a reputable institution. (Applicants must be medical practitioners.)
- Location: The practice should be in Tamil Nadu.
- Project Proposal: Submit a detailed project proposal describing the need for and use of funding. Furthermore, the applicant must have income tax returns for the previous three years.
- Compliance: Meeting all regulatory and licensing standards for medical practices. Even the promoters’ CIBIL score must be 650 or higher.
Purpose of the Tamil Nadu Medical Practitioner Scheme

The Medical Practitioner Scheme was created to help people afford medical equipment. In addition, you can purchase any medical-related asset. The government is offering loans, which will allow money to be eliminated swiftly and medical practitioners to work more easily. You can instantly receive a loan ranging from 10 lakhs to 1 crore.

How much loan can you get?

According to TIIC, certified medical practitioners can obtain a loan through the Medical Practitioners Scheme. The minimal loan amount under the medical practitioner scheme is Rs. 10 lakh. The highest loan amount is Rs. one crore. This is offered based on the applicant’s average income limit of four times over the last three years.

Conditions for the Medical Practitioner Scheme
- The interest to be paid is calculated either monthly or quarterly.
  In the event of a default, the default period is subject to a punitive interest rate of 2.5 percent per year.
- The promoter contribution under the medical practitioner plan begins at a rate of 10% of the project cost.
- The maximum repayment time for medical equipment loans is five years. That includes a six-month moratorium.
- A collateral security worth at least 20% of the loan amount
What documents are necessary for the Medical Practitioner Scheme?
- KYC documents
- Proof of identification: Aadhar card, PAN card, passport, voter ID.
- Proof of Residential Address
- Project report, including estimated balance statement.
- Educational qualification certificates
Conclusion

Tamil Nadu’s Medical Practitioner Scheme plays an important part in improving the state’s healthcare system. The scheme’s goal is to increase healthcare accessibility and quality by providing financial aid, training, and infrastructure support. This program can substantially help medical practitioners who want to construct or expand their facilities, thereby contributing to the population’s overall health and well-being.

This rebuilt content offers a complete and up-to-date overview of the Medical Practitioner Scheme, ensuring that the information is current and relevant to Tamil Nadu’s medical professionals.

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July 31, 2024
Micro Small Enterprise Funding Scheme – Tamilnadu
Micro Small Enterprise
Funding Scheme -Tamilnadu

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The Tamil Nadu government launched the Micro Small Enterprise Funding Scheme with the goal of promoting the expansion and competitiveness of micro and small businesses (MSE). This scheme has been assigned to the Tamil Nadu Industrial Investment Corporation Limited (TIIC) for supervision and implementation. Financial support is also given by the Tamil Nadu government as part of this MSE funding program. Additionally, to the New or Renowned Units in Micro and Small Businesses with a Rs. 50.00 lakh project budget overall.

What are the Objectives of the Micro Small Enterprise Funding Scheme, Tamilnadu?

The primary goal is to provide more financial support. To micro and small business units, both new and old, with a total project expenditure of Rs. 50 lakh. The following are additional goals:
- Upgrading infrastructure through the provision of financial aid in MSE industrial zones, whether they are new or already established.
- For the development of fixed assets in small enterprises and MSEs. Thanks to technological advancements, micro and small business growth is being enhanced. In addition, the quality, market and resource accessibility, and skill sets. furthermore to raise the SMEs’ potential. through the creation of consortia, associations that are upgraded, self-help groups, etc. Building of training facilities, research facilities, raw material depots, wastewater disposal facilities, supplementary manufacturing techniques, etc.
What are the eligibility requirements for the Micro Small Enterprise Funding Scheme in Tamil Nadu?

The following criteria must be met in order to be eligible for funding under the Micro / Small Businesses Funding Scheme: new small and micro businesses, no matter where they are located, for the production, warehousing, or processing of goods. Additionally, for businesses in the service industry like fast food restaurants and hospitals. aside from newly established micro and small-scale businesses and small road transport operators (SRTOs). even the MSE (micro and small-scale enterprise) units now operating in Tamil Nadu. Additionally, growth, modernization, technological advancement, diversification, and service businesses are crucial for all partnerships, limited liability companies (LLPs), and real estate.

Under the Micro and Small Enterprises Funding Scheme, no project’s cost can ever go above Rs. 50 lakh. Furthermore, this sum is exclusive to the new units. The project never costs more than Rs. 50 lakhs for MSE units that are currently in operation. The Micro and Small Businesses Funding Scheme bases the Loan Allotment on the User Type:

First, a term loan of 80% is approved for new MSE units, contingent on project costs. That sets a cap of no more than Rs. 40 lakhs.

Secondly, a term loan equal to 75% of the project cost for already-existing MSE units. Up to a maximum of Rs. 37.50 lakhs, that governs.

Twenty percent of the project cost is the minimum promoter contribution to the Micro and Small Enterprises Funding Scheme. However, specifically:

As a result, the promoter contributes 20% of the project cost to each of the new units.

Additionally, 25% of the project cost is contributed by the promoter to each of the current units.

What are the Documents Needed Micro Small Enterprise Funding Scheme, Tamilnadu?
- KYC records
- Identity proof: voter ID, passport, PAN card, and Aadhar card
- Verification of the home’s address
- Project report and projected balance sheet
- Proof of business address
- Proof of business registration: Partner title; certified copies of the AOA and MOA; bank statement from six months prior (if the unit is an existing one)
conclusion

A business plan, sometimes referred to as a project report, is one of the most important documents on the list above when requesting a bank loan. This document is used by the bank to evaluate a project’s overall viability, risks, financial stability, and potential. The likelihood of a loan being approved rises with a well-written and compelling project report. You can create an engaging project report using Finline in less than ten minutes. In your language as well. Additionally, our project report is accepted by all Indian banks, both public and private. To build your project report, click.

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July 31, 2024
New Entrepreneur Cum Enterprise Development Scheme
New Entrepreneur Cum Enterprise
Development Scheme

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The Tamil Nadu Government’s Department of Industry and Commerce has launched an amazing effort with the new Entrepreneur cum Enterprise Development Scheme (NEEDS). The project also aims to equip professional young people with entrepreneurial opportunities. Also by giving capital and interest subsidies. The scheme’s goal is to help qualified youth develop into first-generation entrepreneurs. However, youth are the future of the country.

What are the eligibility requirements for the New Entrepreneur Cum Enterprise Development Scheme?
- The unit should be newly constructed for Micro and Small Enterprises in the manufacturing and service industries.
- Professional youth holding any certificate, diploma, or ITI/vocational training from a recognized institution.
- Women, SC, ST, BC, MBC, minorities, ex-servicemen, transgender people, and those with disabilities are all eligible to apply.
- The age range is 21-35 years below the General category and 21-45 years below the specific category.
- For under three years, the candidate must be a Tamil Nadu District citizen.
Loan details for the New Entrepreneur cum Enterprise Development Scheme
- The project’s minimal cost is Rs 10.00 lakh.
- The project’s maximum cost is Rs. 500.00 crore.
- The subsidy amount is limited to Rs.30.00 lakh for projects costing more than Rs.1.20 crore.
- Land costs include the project’s expenses based on the Guideline or market value. However, whichever is lesser.
- Building costs for offices, warehouses, laboratories, and so on. This may include project expenditures, provided that building costs do not exceed 25% of project costs. Service firms must invest at least 25% of their capital expenditure.
- In-plant and machinery, only new and used machinery directly imported by the entrepreneur are eligible.
- The project’s cost does not include the cost of leasing or renting buildings.
- The loan repayment period lasts up to 9 years.
- The following expenses do not apply to the computation of subsidies under this scheme:
  i. Rent or Leased Building Costs.
  ii. Technical know-how.
  iii. Preparatory/preoperative expenditures.
  IV. Working capital perimeter.
Contribution to the Loan Scheme
- 10% for general-category entrepreneurs.
- 5% of special category entrepreneurs are SC or ST, women, minorities, ex-servicemen, and so on.
What documents are required for the New Entrepreneur cum Enterprise Development Scheme?
- KYC documents
- Proof of identification: Aadhar card, PAN card, passport, voter ID.
- Proof of Residential Address
- Projected balance sheet/project report
- Business address evidence
- Business registration proof: – Partnership title / Certified copies of MOA / AOA
A business plan, also known as a project report, is a required document when asking for a bank loan. The bank utilizes this document to assess the project’s overall feasibility, risks, financial viability, and potential.

Conclusion

The New Entrepreneur-Enterprise Development Scheme (NEEDS) is a comprehensive project aiming at creating a strong entrepreneurial environment in Tamil Nadu. The program enables young entrepreneurs to create successful businesses by offering financial assistance, skill development, and coaching. This, in turn, promotes economic growth and employment generation throughout the state.

This updated content provides a thorough explanation of the NEEDS Scheme, emphasizing its aims, features, eligibility criteria, and application process. It keeps the information updated and relevant, providing vital insights for potential entrepreneurs in Tamil Nadu.

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July 31, 2024
Raj Udyog Mitra Scheme
Raj Udyog Mitra
Scheme

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The Raj Udyog Mitra plan was introduced by the government for persons in Rajasthan who want to start a new micro, small, or medium-sized firm but are hampered by outdated MSME rules and legislation. However, after the initiative is launched, no official clearance will be required. New micro, small, and medium-sized enterprises can function in the state, and anyone who wants to start their own business or start-up can register by filling out the online application form (Raj Udyog Mitra Application Form) on the Mitra portal.

What are the advantages of registering on the Raj Udyog Mitra official website?
- There is now a simple application process and the issuing of immediate certificates of acknowledgement.
- All new companies will obtain 3 years of exemption from inspections under all state laws.
- No prior approval is needed for the establishment and operation of MSMEs under any state law.
- New enterprises can avail the exemptions mentioned in the new MSME ordinance passed in 2019.
What are the eligibility requirements for the Raj Udyog Mitra Scheme?

Applicants must be Rajasthan residents. New MSMEs starting commercial operations on or after March 4, 2019 can apply for an exemption under the Ordinance.
This scheme does not applicable to already-licensed MSME firms.

What are the documents required for the Raj Udyog Mitra Scheme?
- Bank account details (a copy of the bank passbook).
- Required documents include Aadhar Card, Voter ID, PAN, and Driving License,
- Business plan or project report.
- Address Proof: Aadhar Card, Electricity Bill, Valid Passport, Property Tax Bill, etc.
- Photos of employees (passport size)
- Any bank’s records must show that the applicant is not in default.
Conclusion

A business plan, often known as a project report, is an important document when requesting for a bank loan. The bank utilizes this document to assess the project’s overall feasibility, risks, financial viability, and potential. A well-written and convincing project report improves the likelihood of loan acceptance. With Finline, you can create a captivating project report in less than 10 minutes. That, too, is in your language. Furthermore, all public and private sector banks operating in India approve our project report. Click to generate your project report.

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MSME Loan Schemes Available in Haryana
MSME Loan Schemes Available
in Haryana

View Sample Report

India’s economy is based primarily on small and medium-sized firms (SMEs), which create jobs and propel economic expansion. The Haryana government has established a number of financing programmes to assist MSMEs since it acknowledges the significance of SMEs. These programs are designed to give money to business owners who wish to launch new ventures or grow already established ones. We’ll talk about the credit options for MSMEs in Haryana in this blog post.

Haryana Swarn Jayanti Udyami Yojana

The Haryana government introduced the Haryana Swarn Jayanti Udyami Yojana (HSJUY) as a financing program to encourage women and SC/ST entrepreneurs to start their own businesses. Eligible applicants can receive financial help up to Rs. 1 crore under this plan. Repayment of the loan is due in seven years, with a two-year grace period. This loan has an annual interest rate of four percent.
1. Name of Scheme: HSJUY
2. Gender: SC/ST and women
3. Education Qualification: 10th pass or above
4. Age: 21-50 years
5. Social Category: SC/ST and women
6. Industry Profile: Manufacturing, service, and agriculture
7. Rural/Urban: Both
8. State Govt/Central Govt: State Govt
Mukhya Mantri Vyapari Samuhik Niji Durghatna Beema Yojana

Launched by the Haryana government, the Mukhya Mantri Vyapari Samuhik Niji Durghatna Beema Yojana (MMVSNDBY) is an insurance policy for MSMEs. The program offers MSMEs insurance protection in the event of mishaps, owner disability, or death. The government subsidizes the premium for this plan, and the amount guaranteed changes based on the premium amount.
1. Name of Scheme: MMVSNDBY
2. Gender: Not applicable
3. Education Qualification: Not applicable
4. Age: Not applicable
5. Social Category: Not applicable
6. Industry Profile: MSMEs
7. Rural/Urban: Both
8. State Govt/Central Govt: State Govt
1. The Haryana State Industrial and Infrastructure Development Corporation (HSIIDC) Loan:
The Haryana government introduced the initiative as a financing program to help MSMEs financially. Eligible applicants can receive loans up to Rs. 50 lakhs under this plan. Repayment of the loan is due in seven years, with a two-year grace period. This loan has an annual interest rate of ten percent.
1. Name of Scheme: MMVSNDBY
2. Gender: Not applicable
3. Education Qualification: Not applicable
4. Age: Not applicable
5. Social Category: Not applicable
6. Industry Profile: MSMEs
7. Rural/Urban: Both
8. State Govt/Central Govt: State Govt
Prime Minister’s Employment Generation Programme

The Prime Minister’s Employment Generation Programme (PMEGP) is a financing initiative established by the central government to give financial assistance to MSMEs. This scheme provides qualifying candidates with loans of up to Rs. 25 lakhs. The loan is repayable over 5-7 years, including a 2-year moratorium period. This loan carries an annual interest rate of 12%.
1. Name of Scheme: PMEGP
2. Gender: Not applicable
3. Education Qualification: Not applicable
4. Age: 18-35 years
5. Social Category: Not applicable
6. Industry Profile: Manufacturing, service, and agriculture
7. Rural/Urban: Both
8. State Govt/Central Govt: Central Govt
Credit Guarantee Fund Trust for Micro and Small Enterprises

The Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) is a lending scheme established by the national government to provide collateral-free loans to MSMEs. Eligible applicants can get loans of up to Rs. 2 crores through this scheme. The loan is repayable in 5-7 years, with a one-year moratorium period. The interest rate for this loan varies according on the lender.
1. Name of Scheme: CGTMSE
2. Gender: Not applicable
3. Education Qualification: Not applicable
4. Age: Not applicable
5. Social Category: Not applicable
6. Industry Profile: Manufacturing, service, and agriculture
7. Rural/Urban: Both
8. State Govt/Central Govt: Central Govt
Haryana Swarna Udyam Nidhi

Haryana Swarna Udyam Nidhi is an initiative developed by the Haryana State Industrial and Infrastructure Development Corporation (HSIIDC) to provide financial support to the state’s MSMEs. This initiative provides qualified MSMEs with loans of up to Rs. 20 lakhs at an annual interest rate of 9%. This loan has a repayment period of 7 years, which includes a 1-year moratorium period.
1. Name of Scheme: Haryana Swarna Udyam Nidhi
2. Gender: Not applicable
3. Education Qualification: Not applicable
4. Age: Not applicable
5. Social Category: Not applicable
6. Industry Profile: Manufacturing, service, and agriculture
7. Rural/Urban: Both
8. State Govt/Central Govt: State Govt
Haryana State Industrial and Infrastructure Development Corporation (HSIIDC) Loans

HSIIDC also provides loans to Haryana’s MSMEs for the purpose of establishing new units, expanding, modernizing, diversifying, and rehabilitating existing ones. The loan amount offered by HSIIDC is based on the project’s requirements, with a maximum ceiling of Rs. 20 crore. The interest rate for this loan varies according on the lender.
1. Name of Scheme: HSIIDC Loans
2. Gender: Not applicable
3. Education Qualification: Not applicable
4. Age: Not applicable
5. Social Category: Not applicable
6. Industry Profile: Manufacturing, service, and agriculture
7. Rural/Urban: Both
8. State Govt/Central Govt: State Govt
Chief Minister’s Good Governance Associates (CMGGAs) Scheme

The Chief Minister’s Good Governance Associates (CMGGAs) Scheme was established by the Haryana government to promote good governance and development in the state. This plan hires young professionals as CMGGAs and places them in various government ministries. They collaborate closely with government authorities to identify shortcomings in the implementation of various plans and provide solutions to address them.
1. Name of Scheme: CMGGAs Scheme
2. Gender: Both
3. Education Qualification: Graduate or Postgraduate
4. Age: 21-42 years
5. Social Category: Not applicable
6. Industry Profile: Not applicable
7. Rural/Urban: Both
8. State Govt/Central Govt: State Govt
These loan schemes and professional schemes are offered to Haryana’s MSMEs and young professionals, providing them with the financial support and job chances they need to expand their enterprises and the state’s economy.

Finally, Haryana’s MSMEs have access to a variety of credit initiatives that help them start or develop their operations. These lending plans provide flexible repayment terms and low interest rates, making them an appealing alternative for entrepreneurs. MSMEs should take advantage of these programs to expand their operations and contribute to the growth of the Haryana economy.

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MSME Loan Schemes Available In Himanchal Pradesh
MSME Loan Schemes Available
In Himanchal Pradesh

View Sample Report

The northern Indian state of Himachal Pradesh is renowned for its varied industries and breathtaking scenery. The state’s economy grows in large part because of the large number of Micro, Small, and Medium-Sized Enterprises (MSMEs) it has. The Himachal Pradesh government has established a number of credit programs to aid in the expansion of these MSMEs. These programs give MSMEs financial support to launch, grow, or update their enterprises. We’ll talk about some of the main MSME lending programs in Himachal Pradesh in this blog, along with their benefits, eligibility requirements, and whether they’re state- or federal-government efforts.

Mukhya Mantri Swavlamban Yojana (MMSY) is the name of the scheme.

This program offers financial support to MSMEs in Himachal Pradesh, both new and established. The state government offers loans up to Rs. 30 lakhs under this program, with a 25% loan amount subsidy. There is a one-year moratorium before the loan must be repaid in five years.
1. Name of Scheme: MMSY
2. Gender: All
3. Education Qualification: Minimum 10th pass
4. Age: 18-50 years
5. Social Category: All
6. Industry Profile:All MSMEs
7. Rural/Urban: Rural/Urban
8. State Govt/Central Govt: State Govt
9. Benefits: Loan up to Rs. 30 lakhs with a subsidy of 25% on the loan amount
Scheme Name: Mukhya Mantri Yuva Ajivika Yojana (MMYAY)

This program offers young people without jobs financial support to launch their own MSMEs in Himachal Pradesh. The state government offers loans up to Rs. 30 lakhs under this program, with a 25% loan amount subsidy. There is a one-year moratorium before the loan must be repaid in five years.
1. Name of Scheme: MMYAY
2. Gender: All
3. Education Qualification: Minimum 10th pass
4. Age: 18-45 years
5. Social Category: All
6. Industry Profile:All MSMEs
7. Rural/Urban: Rural/Urban
8. State Govt/Central Govt: State Govt
9. Benefits: Loan up to Rs. 30 lakhs with a subsidy of 25% on the loan amount
Prime Minister’s Employment Generation Programme (PMEGP):

The Ministry of MSMEs, Government of India, is responsible for implementing the credit-linked MSMEs subsidy scheme known as PMEGP. For projects up to Rs. 25 lakhs, the state government offers a 25%–35% subsidy under this initiative.
1. Name of Scheme: PMEGP
2. Gender: All
3. Education Qualification: Minimum 8th pass
4. Age: 18 years and above
5. Social Category: All
6. Industry Profile:All MSMEs
7. Rural/Urban: Rural/Urban
8. State Govt/Central Govt: Central Govt
9. Benefits: Subsidy of 25% to 35% for projects costing up to Rs. 25 lakhs
Udyogini Scheme

In Himachal Pradesh, women entrepreneurs can establish their own MSMEs with financial support from the Udyogini Scheme. The state government offers loans up to Rs. 1 lakh under this program, with a 30% loan amount subsidy.
1. Name of Scheme: Udyogini Scheme
2. Gender: Women
3. Education Qualification: Minimum 8th pass
4. Age: 18-55 years
5. Social Category: All
6. Industry Profile:All MSMEs
7. Rural/Urban: Rural/Urban
8. State Govt/Central Govt: State Scheme
9. Benefits: Loan up to Rs. 1 lakh with a subsidy of 30% on the loan amount
Swarnima Yojana

The Swarnima Yojana is a program in Himachal Pradesh that aims to empower women. Under this program, women entrepreneurs can start their own MSMEs with a loan from the state government of up to Rs. 50,000. There is a six-month moratorium before the loan must be repaid in five years.

Additional Information and Updates

For the most recent information and updates on these lending schemes, consult government portals, financial institution websites, and policy updates. This ensures that you have the most up-to-date information and can capitalise on the opportunities accessible to MSMEs in Himachal Pradesh.
1. Name of Scheme: Swarnima Yojana
2. Gender: Women
3. Education Qualification: Minimum 8th pass
4. Age: 18-55 years
5. Social Category: All
6. Industry Profile:All MSMEs
7. Rural/Urban: Rural/Urban
8. State Govt/Central Govt: State Scheme
9. Benefits: Loan up to Rs. 50,000 to women entrepreneurs
Mukhya Mantri Swavlamban Yojana

The goal of the Mukhya Mantri Swavlamban Yojana is to give financial support to young people in Himachal Pradesh who wish to launch their own MSMEs. The state government offers qualified candidates a loan up to Rs. 30 lakhs under this plan. There is a two-year moratorium before the loan must be repaid in seven years.
1. Name of Scheme: Mukhya Mantri Swavlamban Yojana
2. Gender: All
3. Education Qualification: Minimum 10th pass
4. Age: 18-45 years
5. Social Category: All
6. Industry Profile:All MSMEs
7. Rural/Urban: Rural/Urban
8. State Govt/Central Govt: State Scheme
9. Benefits: Loan up to Rs. 30 lakhs
National Small Industries Corporation (NSIC) Subsidy

An initiative of the Central Government, the NSIC Subsidy scheme offers financial support to MSMEs in Himachal Pradesh. Eligible MSMEs can receive a 15% price subsidy on plant and machinery under this initiative. The highest amount of the subsidy is Rs. 15 lakhs.
1. Name of Scheme: NSIC Subsidy
2. Gender: All
3. Education Qualification: Not specified
4. Age: No age limit
5. Social Category: All
6. Industry Profile:All MSMEs
7. Rural/Urban: Rural/Urban
8. State Govt/Central Govt: Central Scheme
9. Benefits: Subsidy of up to 15% on the price of plant and machinery
conclusion

These initiatives give MSMEs in Himachal Pradesh additional choices for obtaining funding for their operations. Every scheme has different perks and qualifying requirements, so it’s critical for business owners to do their homework and choose which plan best meets their requirements. Finaxis project report service can help MSMEs expedite and simplify the loan approval process by helping them prepare a project report that satisfies the requirements of various lending schemes.

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