UP eyes 10 lakh new entrepreneurs in 10 years, offers interest-free loan to youngsters
Chief Minister Yogi Adityanath has outlined a plan to back young entrepreneurs across Uttar Pradesh. The push aims to reshape the state economy by building a large base of self-reliant businesses.
In a major push to strengthen Uttar Pradesh’s economy through entrepreneurship, Chief Minister Yogi Adityanath’s government is expanding opportunities for young people under the Mukhyamantri Yuva Udyami Vikas Abhiyan (MYUVA). The flagship initiative seeks to make young people self-reliant by providing interest-free, collateral-free loans of up to Rs 5 lakh for starting businesses.
With a target of creating one lakh new entrepreneurs every year, the government has drawn up a long-term roadmap to nurture 10 lakh self-reliant entrepreneurs over the next decade, placing the state’s youth at the centre of its economic growth strategy.
Conceived as an ambitious entrepreneurship programme, MYUVA addresses one of the biggest challenges faced by aspiring entrepreneurs—access to finance.
Unlike conventional lending, the scheme enables eligible applicants to secure loans without furnishing property as collateral or arranging third-party guarantees.
In addition, beneficiaries receive a 10 per cent margin money subsidy on the project cost, reducing the financial burden during the initial stages of establishing a business.
ELIGIBILITY TO APPLY
The scheme is open to permanent residents of Uttar Pradesh aged between 21 and 40 years who have passed at least Class 8.
Applicants must also possess a technical diploma or degree from a recognised institution or hold a government-recognised skill certification, including those issued under programmes such as ODOP, Vishwakarma Shram Samman Yojana or ITI.
MYUVA'S TWO-PHASE DEVELOPMENT MODEL
| PHASE 1 | PHASE 2 |
| Loans up to Rs 5 lakh | Loans from Rs 10 lakh to Rs 20 lakh |
| 100% interest subvention | Interest subsidy on timely repayment of loan |
| No guarantee required | 50% interest subsidy up to the prescribed limit |
To simplify access, applications are processed online through the Directorate of Industries and Enterprise Promotion’s UPMSME portal and the official MYUVA portal.
The UP government has also instructed banks to speed up loan approvals and improve the state’s Credit-Deposit (CD) ratio to ensure timely credit support for eligible entrepreneurs.
Officials believe the initiative will encourage innovation, expand self-employment and create new livelihood opportunities across the state.
By easing access to credit and supporting first-generation entrepreneurs, the Yogi Adityanath government expects MYUVA to contribute significantly to industrial growth and local economic development.
As implementation gathers pace, the scheme is expected to play a pivotal role in building a robust entrepreneurial ecosystem and advancing Uttar Pradesh’s vision of becoming a stronger, self-reliant economy driven by its youth.