Udyam Kranti Yojana helps young entrepreneurs in Madhya Pradesh access collateral-free loans, interest subsidies and credit guarantee coverage to start or grow manufacturing, trading, or service businesses. The scheme also provides training, mentorship and guidance to support sustainable business growth and skill development
Loans range from ₹1 lakh to ₹50 lakh for manufacturing and from ₹1 lakh to ₹25 lakh for service or trading businesses. The government provides a 3% annual interest subsidy and up to 7 years of CGTMSE credit guarantee coverage to support young entrepreneurs in raising funds and starting their ventures.
How does the Udyam Kranti Yojana benefit businesses
The Mukhyamantri Udyam Kranti Yojana offers several advantages to entrepreneurs starting new businesses:
Financial support
Entrepreneurs can access funding to start a venture or expand an eligible small business, reducing the financial burden in the early stages.
Training and mentorship
Beneficiaries can access training, mentorship and skill development programmes to strengthen business knowledge and management skills.
Support for long-term growth
Financial and institutional support helps businesses grow sustainably while creating employment opportunities.
Simpler loan and approval process
The scheme simplifies documentation, approvals and government procedures involved in applying for business loans.
Who is eligible for the Udyam Kranti Yojana?
Applicants must meet these conditions laid by the government to apply for the Mukhyamantri Udyam Kranti Yojana:
- Residency criteria: Applicants must be permanent residents of Madhya Pradesh.
- Age requirement: Applicants must be between 18 and 45 years of age at the time of application.
- Minimum education: Applicants must have completed at least Class 8. Some banks may require higher qualifications depending on the project or loan amount.
- Family income: The applicant’s family income must not exceed ₹12 lakh per year.
- Income tax details (if applicable): Applicants who file income tax returns must provide ITR details for the past three years.
- Non-beneficiary of similar schemes: Applicants should not already be receiving benefits from similar state or central government self-employment schemes for the same project.
- For new businesses only: The scheme is meant for starting a new business, not for expanding an existing one.
- Clean loan repayment record: Applicants should not have any pending dues or loan defaults with banks or financial institutions.
How to register online for Udyam Kranti Yojana?
You can register for the Mukhyamantri Udyam Kranti Yojana through the government’s official online portal by following these steps:
- Visit the SAMAST/MPOnline portal, the official portal used by the Madhya Pradesh government for scheme applications.
- On the homepage, click “Apply.”
- Select “Create New Profile” to begin registration.
- Enter the required details such as full name, date of birth, gender, relationship details, relative’s name, category, mobile number, email ID and captcha code.
- Click “Create Profile” to register your account.
- Log in using your registered mobile number and date of birth (DOB).
- Select “Madhya Pradesh Chief Minister Udyam Kranti Yojana” to open the application form.
- Fill in the application form with the required personal and business details.
- Upload the required documents:
- Aadhaar Card
- Copy of bank passbook
- Address proof
- Ration card
- Identity proof
- Registered mobile number
- Passport-size photograph
- Click “Submit” to complete the application.
What is the process after applying online for Udyam Kranti Yojana?
After submitting the application, the concerned authorities review it for approval. Once the documents are verified, the application is forwarded online to the concerned bank branch.
The bank reviews the application and decides whether to approve it. If approved, the bank disburses the loan within one month and updates the status on the online portal.
The bank also applies for the interest subsidy or loan guarantee fee subsidy from the District Trade and Industry Centre (DTIC) on behalf of the beneficiary. The General Manager of DTIC processes the subsidy and transfers it directly to the loan account through the Direct Benefit Transfer (DBT) system.
Applicants can contact the DTIC in their district for additional assistance.
Filing a complaint under Udyam Kranti Yojana
You can file a complaint online if you face any issues related to the scheme or application process. Follow these steps:
- Go to the official Mukhyamantri Udyam Kranti Yojana portal.
- Click “Register a Complaint” on the homepage.
- Select “Register Complaint” on the grievance page.
- Fill in the complaint form with details about your issue.
- Review the form and click “Submit” to register your complaint.
Your complaint will then be recorded and reviewed by the concerned authorities.
Conclusion
Access to reliable funding remains a major challenge for many aspiring entrepreneurs in the early stages of their business journey. The Mukhyamantri Udyam Kranti Yojana helps address this by enabling young entrepreneurs in Madhya Pradesh to access institutional credit with government support.
Through interest subsidies, credit guarantee coverage and simplified procedures, the scheme supports first-time entrepreneurs in starting and growing their businesses.
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