UYEGP Scheme 2023 :- The Indian government is quite accommodating to the nation’s small, medium, and large businesses. The government offers a variety of schemes and perks to these business owners in an effort to boost the national economy and create jobs. The state government of Tamil Nadu developed the UYEGP Scheme 2023. The state government supports and benefits thousands of entrepreneurs through the scheme and supports them to become self -employed in their local residence. In this article, we will learn about the benefits and requirements of the scheme. Additionally, we will also learn about the application process for the scheme.
Table of Contents
Brief About UYEGP Scheme 2023
The Unemployed Youth Employment Generation Program has been started for the Department of Micro, Small, and Medium Enterprises by the Tamil Nadu Government. The initiative would enable the state’s youth to create their own businesses that would allow them to support themselves in their local communities rather than having to move from one state or county to another. The government may assist young people in starting their own enterprises and in assisting the government in increasing the state and local economies.
Under the scheme, loans amount to between 90 and 95 percent of the project’s cost, with qualifying recipients also receiving a 25 percent rebate. Loan assistance will be provided through commercial banks. Overall, promoter payments to the supplied plan will not exceed 10%, and the other parties engaged will assist novices in starting a firm.
UYEGP Scheme 2023 Overview
| Name of Scheme | UYEGP Scheme |
| State | Tamil Nadu |
| Year | 2023 |
| Beneficiaries | Local Entrepreneurs of the State |
| Benefits | Provide loans and subsidies. |
| Website | www.msmeonline.tn.gov.in |
Objective of UYEGP Scheme 2023
The main objective of the scheme is to provide support to the local youth of the state to become local entrepreneurs and self-employed with the aid of a loan and subsidy from the state government.
Benefits of UYEGP Scheme 2023
- Some of the benefits from the UYEGP Scheme in the state of Tamil Nadu are as Projects in the fields of construction, business, and services: Individual-Based Capital Subsidy at 25% of the Project Cost 15,00,000 to 500,000 rupees are the maximum project costs. A Capital Subsidy for Individuals at 25% of the Project Cost
- Sponsorship contributions of 10% for general and 5% for special category programmes are made to help those in economically and socially disadvantaged groups who are struggling with unemployment.
- Participants of the seven-day courses in the Entrepreneur Development Programme use a range of financial institutions such as commercial banks, nationalised banks, and Tamil Nadu Industrial Cooperative Bank for the loan.
- Loans up to Rs. 10 lakh are offered by CGTMSE without the need for security or collateral from the borrower.
Eligibility Criteria
- The eligibility criteria for the UYEGP Scheme are as
- The applicant should be at least 8th grade educated.
- For UYEGP, any adult can apply. Age restrictions for special categories are 35 years old, while those for general categories are 45 years old.
- For a UYEGP loan, training must be completed and the couple’s combined yearly income must not be more than Rs. 1,50,000.
- The applicant should have lived in Tamil Nadu for the past three years and must not have ever taken out a loan of any type.
Documents required for the UYEGP Scheme 2023
- Some of the main and important documents required for the UYEGP Scheme are
- Identification Documentation of the Applicant
- An estimate of the project’s necessary resources
- qualification certificate for education.
- Undertaking report
- residential evidence
- certificate of caste (If applicable)
- Handicapped (If applicable)
- Pictures the size of a passport
- Mobile Number
Application Process for the UYEGP Scheme 2023
- In order to take benefits from the UYEGP Scheme, the applicant needs to follow the application process of the scheme.
- Visit the official website of the portal.
- Go to the MSME home page and select the UYEGP option.
- Then select “New Application” after clicking the “Apply Online” link.
- The application must include the entrepreneur’s contact information, email address, and educational background.
- Then upload the necessary documents in the requested size.
- You must provide information on the project outlay, the line of activity, the venture category, and the address where the activities will begin.
- You may view the list of documents that must be uploaded once you complete the form.
- To proceed with the application, click the “Proceed” button. You will receive an application ID once you submit your application.
- Then choose “Upload Documents” under the Micro, Small, and Medium Enterprises Department’s “Apply Online” section.
- Click the “Submit” button after entering the application ID. Any and all files may be sent.
- Your form will be submitted after you click “Submit.” Authorities will now investigate, confirm, and update you.
Contact Details
- Commissionerate of Industries and Commerce,
- SIDCO Corporate Office Building,
- Thiru-vi-ka Industrial Estate
- Guindy, Chennai -600032
- Board No.22505011, 22502053, 22502018, 22501007, 22501073
- Fax:22505003
- Email: indcom@tn.gov.in , indcomchn@gmail.com