YUVA SCHEME

The Government of Rajasthan has introduced the "Yuva Udyamita Protsahan Yojana" (YUPY), also known as the "Young Entrepreneurs Incentive Scheme," to encourage and support young entrepreneurs in establishing enterprises within the state. This initiative is managed by the Industries Department of Rajasthan.

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Key Features of YUPY

  • Financial Assistance:
  • The scheme offers financial support for projects with costs ranging from ₹25 lakh to ₹1 crore.
  • Eligible entrepreneurs can avail loans up to ₹90 lakh, with a minimum personal contribution of 10%.

Eligibility Criteria

  • Age Limit: Applicants should be up to 35 years old.
  • Educational Qualification: Candidates must have completed ITI, Diploma, Higher Secondary (10+1), or Senior Secondary (10+2) education.
  • First-Generation Entrepreneurs: Priority is given to individuals venturing into entrepreneurship for the first time.

Loan Terms

  • Repayment Period: Loans are repayable over seven years.
  • Interest Rate: An interest rate of 7-9% per annum is applicable, subject to timely repayments.

Additional Benefits

  • Land Allocation: Successful applicants are facilitated in acquiring land from the Rajasthan State Industrial Development and Investment Corporation Limited (RIICO) or other suitable locations, considering factors like population density and strategic importance.
  • Registration Charges: Registration charges for legal documentation are exempted under this scheme.
  • Guidance and Support: Continuous guidance and assistance are provided by departmental officers and employees throughout the project implementation phase.