Launched on 1 August 2014 by the Department of Micro, Small & Medium Enterprises, the Mukhya Mantri Swarojgar Yojana is aimed at promoting self-employment in Madhya Pradesh by providing financial assistance to the state’s citizens. Under this scheme, eligible individuals can secure loans ranging from ₹50,000 to ₹10,00,000 to establish or expand an employment venture. In addition to the loan facility, the scheme offers benefits such as margin money assistance, interest subsidy, loan guarantee, and training support. The loan repayment period is flexible, with a minimum of 6 months and a maximum of 7 years.
Benefits
-
Financial Assistance:
Loans are provided in the range of ₹50,000 to ₹10,00,000. -
Margin Money Assistance:
- General Category: 15% of the project cost (up to a maximum of ₹1,00,000).
- BPL, SC, ST, OBC (except creamy layer), Women, Minorities, or Disabled: 30% of the project cost (up to a maximum of ₹2,00,000).
- Additional Provisions:
- 30% of the project cost (maximum ₹3,00,000) for liberated nomadic and semi-nomadic tribes.
- Bhopal gas victim family members receive an additional 20% (maximum ₹1,00,000) on the project cost.
-
Interest Subsidy:
- Standard interest subsidy is provided at 5% per annum of the project cost.
- For women entrepreneurs, the subsidy is enhanced to 6% per annum, for a maximum period of 7 years (with a maximum of ₹25,000 per annum).
-
Loan Guarantee:
Guarantee fees under CGTMSE/CGFMU are applicable for a maximum of 7 years at the prevailing rate.
Eligibility
-
Residency:
The applicant must be a permanent resident of Madhya Pradesh. -
Educational Qualification:
The applicant should have passed at least up to the 5th class. -
Age Requirement:
The applicant’s age must be between 18 and 45 years. -
Income Criteria:
The applicant’s family should not be income taxpayers. -
Credit History:
The applicant should not be a defaulter of any bank. -
Exclusions:
- Applicants receiving assistance under any other self-employment scheme are not eligible.
- The benefits under this scheme can be availed only once.
Application Process
Online Process:
-
Access the Portal:
Visit the official website using the provided link. -
Application Link:
Click on the application link for the Mukhya Mantri Swarojgar Yojana displayed on the homepage. -
Department Selection:
Various departments associated with the scheme will be displayed; choose the one that is relevant to your business interest. -
Registration:
For new applicants, register by entering your name, mobile number, password, and captcha code. Click “Submit” to complete registration. -
Login and Apply:
After registration, log in to the portal and complete the online application form.
Documents Required
- Aadhaar Card
- PAN Card
- Income Certificate
- Address Proof
- Passport-size Photograph
- Mobile Number Verification
- 5th Class Mark Sheet
Frequently Asked Questions
-
What is Mukhya Mantri Swarojgar Yojana (MMSY)?
It is a self-employment scheme by the Madhya Pradesh government providing financial assistance through loans to create employment. -
Is there any age limit for applicants?
Yes, applicants must be between 18 and 45 years of age. -
Can citizens from other states apply for this scheme?
No, only permanent residents of Madhya Pradesh are eligible. -
What is the minimum educational qualification required?
Applicants must have passed at least the 5th class. -
Is there any subsidy or financial assistance provided under the scheme?
Yes, the scheme provides margin money assistance, interest subsidy, loan guarantee, and training support. -
What types of assistance are provided?
Assistance includes financial help via loans, margin money support (varying by beneficiary category), an interest subsidy (5% standard and 6% for women), and loan guarantees. -
What is the official website for the scheme?
The official website is provided by the Madhya Pradesh government’s portal for the Chief Minister Self Employment Scheme. -
How many times can an applicant avail the benefits?
The benefits under this scheme can be availed only once. -
How to apply online?
Visit the official website, register, and fill in the application form as outlined in the online application process. -
Can I apply offline?
The scheme is designed for online applications; please check the official website for any alternative procedures if available.