UYEGP Scheme:- A new scheme will provide beneficiaries with subsidies of up to 25% of project costs. The UYEGP Scheme is a scheme only for the citizens of Tamil Naidu of the MSME department.
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Tamilnadu UYEGP Scheme attempts to reduce unemployment among the economically and socially disadvantaged. It’s created for educated jobless people to become self-employed in their local locations to reduce rural-to-urban migration due to unemployment.
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These teenagers are financed to start manufacturing, service, and business firms. In today’s post, we will discuss the motivation for the introduction of the Unemployed Youth Employment Generation Programme. Additionally, its features and advantages, as well as the application process.
UYEGP Scheme 2024
The Tamil Nadu government launched the Unemployed Youth Employment Generation Program (UYEGP) by the Department of Micro, Small and Medium Enterprises. In addition to eliminating a few other business hurdles, entrepreneurs can quickly raise funds to start a new company.
There may or may not be situations where banks will not support them in the first place, for whatever reason. To address this issue, the Tamil Nadu government has implemented a loan scheme for SMEs. The UEEGP program is an initiative designed to motivate unemployed youth to set up their own companies and promote youth entrepreneurship.
The state government has acknowledged the subsidies’ concerns, but has also put some barriers to achieving its goal, such as age, educational qualifications and family income that must be met before applying for the scheme breed. This scheme will provide loans only up to 90-95% of the project cost, with 25% subsidy for eligible beneficiaries.
The good news is that no assets or trusts are taken from the applicant. It is supported by loans through commercial banks. Overall, promoters will not exceed 10% of the allocated schemes, and the remaining participants in the scheme will help newcomers launch their businesses
UYEGP Scheme Objectives
The main objective of this UEEGP program is to reduce unemployment among the socio-economically disadvantaged sections of the society, especially the educated and unemployed, through which they receive loans and grants from the national government .
Serving all the poorer sections of the country shows that the government is trying to improve the quality of life for citizens from minority groups.
UYEGP Scheme Benefits & Features
Sponsor contribution of 10% for general programs and 5% for special class programs to reduce the challenges of unemployment among the economically and socially disadvantaged sections of society. Construction, Commercial, Service Projects: Individual-Based Capital Grant @ 25% of Project Cost Max Project Cost Rs. 15,00,000, Rs. 50,000, and Rs. 500,000 Individual-Based Capital Grant @ 25% of the Project Cost (Max Rs. 2.50 Lakhs) The disbursement of benefits under the UEEGP scheme is governed by RBI guidelines on district level selection of beneficiaries to ensure maximum participation from each district.
Courses in the Entrepreneur Development Program (EDP) for seven days from the time the program is accepted. Use financial institutions including nationalized banks, private banks and Tamil Nadu Industrial Co-operative Bank for loans. The sales support of the District Industry Center (DIC) also organizes buyer and seller meetings from time to time.
The program prioritized district-level beneficiary selection to ensure equitable distribution of benefits across all districts. All recipients must attend a seven-day professional development program training course.
A wide network of banks and financial institutions providing instant finance including nationalized banks, private banks and Tamil Nadu Industrial Co-operative Bank CGTMSE offers loans up to Rs. 10 lakhs without requiring collateral or security from the borrower.
The General Manager of the concerned Regional Industry Center would organize regular meetings of buyers and sellers to provide marketing support
UYEGP Scheme Eligibility
Entrepreneurs must have an eighth grade. Any adult (18+) can apply for UYEGP. There is an age limit of 35 years for special categories and 45 years for all categories.
The annual income of the couple should not exceed Rs. 1,50,0 respectively Employees must have a 3-year tenure. Training is required for the UYEGP loan.
To apply for UYEGP, the recipient must not have received any State/Central Government loan or grant. Applicants must have passed eighth grade. She has been living in Tamil Naidu for the last 3 years. Applicants must not have taken any debt in the past
Documents
- ID Proof
- A quote for the necessary resources included in the project.
- Educational qualification certificate.
- Project report
- Residential proof
- Caste certificate (If applicable)
- Handicapped (If applicable)
- Images that are passport-size
- Mobile Number
UYEGP Scheme Application Process
- Visit the official website and a homepage will be displayed.
- Choose the UYEGP option from the MSME home page.
- The link will take you to a different page.
- On this new page, click the link that says “Apply Online” then click “New Application” The Unemployed Youth Employment Generation Programme application form will be shown.
- The applicant has to give basic information about the entrepreneur, as well as his or her email address and educational background. Enter them correctly.
- Then upload scanned photos that are the exact size asked for by the website.
- You need to give information about the Line of Activity, the Category of the Venture, the Address where the Activities will Start, and the Project Outlay.
- After you fill out the information, you can look at the list of documents that need to be uploaded.
- Click on the button that says “Proceed” to move the application forward. When you send in your application, you’ll get an application ID.
- Then under “Apply Online” in the Micro, Small, and Medium Enterprises Department, choose “Upload Documents.”
- Give the application ID and click the “Submit” button. You can send all of the files.
- Click “Submit” and your form is submitted. Now authorities will check, verify, and inform you further.
- If accepted, you will get a call for an interview. If the applicant does well in the interview, the bank will be told that the loan should be approved.
- The loan will be approved by the bank. The person who wants to go to the EDP training will get a letter asking them to come.
- You need to send in your certificate of EDP training. The affidavit should be typed on an Rs.20/- Non Judicial Stamp Paper and signed by a Notary Public. The affidavit should be given to the bank along with a copy of the rental or lease agreement when the loan is approved.
- Then you will receive an EDP letter for training, and you have to attend those training sessions. Afterward, you will get a certificate of training as well.
- Then submit the certification to the bank, and loans will be distributed.
FaQ
Q. What is the Uyegp scheme?
Ans. aims to mitigate the unemployment problems of socially and economically weaker sections of society, particularly among the educated and unemployed youth
Q.What is the repayment schedule of Uyegp?
Ans .up to 5 years
Q.What are the requirements for Pmegp Uyegp?
Ans Minimum Educational qualification is Pass in VIII Standard
UYEGP Scheme 2024 | UYEGP Scheme 2024: Apply Online, Application Form & Status, Eligibility
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