Context:
The Uttar Pradesh government has launched a CM-YUVA Campaign under Mukhyamantri Yuva Udyami Vikas Abhiyan (CM-YUVA) across all 75 districts.
More on News:
- The government has launched a drive to help college students and unemployed youth start their own ventures, with special teams to identify final-year students and jobless graduates.
- Identified eligible youth will receive interest-free, collateral-free loans of up to ₹5 lakh to launch their own ventures and transition from job seekers to job creators.
- The UP government’s primary goal is to empower eligible, educated, and forward-thinking youth by supporting them in launching their own businesses.
- The vision is to transition youth from “seeking jobs” to “creating jobs.”
- Financial assistance, technical guidance will be provided to ensure the success of their entrepreneurial venture.
- A two-day capacity-building workshop was recently held in Lucknow, aimed at improving the scheme’s rollout and enhancing the functionality of the CM Yuva Portal.
- According to the government,
- Over 2.5 lakh youth have applied for loans under the initiative.
- More than 1.10 lakh applications have been forwarded to banks, with loans sanctioned for over 53,000 applicants.
- Around 40,000 have already received the funds.
- Young entrepreneurs are putting these interest-free loans to use by launching ventures across diverse sectors, including cake manufacturing, digital marketing, interior design, laundry services, solar panel installation, tattoo studios, and mineral water plants.