What is Mukhyamantri Swavalamban Yojna which is paving the way for self-employment and entrepreneurship?

By | December 29, 2021

State Government is laying special emphasis on the development of the Industry sector.

Mukhyamantri Swavalamban Yojna (MSY) aims:

  1. to turn the educated youth from job seekers to job creator
  2. to give support to the Startup and Innovation Projects in the State,
  3. to provide skills to the youth and potential investors to develop entrepreneurship.

Besides this, the government is providing the facility of hand-holding and mentorship to innovative enterprises from the initial stage to setting up of the industry.

Under Mukhyamantri Swavalamban Yojna, local youth are being provided benefits in the manufacturing sector, trade and identified service sector on projects up to rupees one crore.

Men in the age group of 18 to 45 and women between 18 to 50 years age group can avail benefit under this scheme. 

Under this scheme, on investment in machinery and plant worth Rs. 60 lakh, there is a provision of 25 percent subsidy for men, 30 percent for women and 35 percent subsidy for widows. Five percent interest subvention for three years has been provided on loan up to Rs. 60 lakh. For the year 2021-22, a target of benefitting three thousand beneficiaries has been fixed.  Interested beneficiaries are required to submit the application on the prescribed form to the Joint/Deputy Director of Industries Department or General Manager of District Industries Center along with copy of Aadhar Card and Bonafide Himachali Certificate.

What are the activities added under this scheme? 

The State Government has added some more activities under this scheme. Small Scale Service and Business Enterprises such as establishment of Silage units, Unnat Dairy Vikas Project ( A unit of minimum 10 cows or buffaloes), the establishment of cold storage facilities for milk and milk products, farm stay, agro tourism, farm tourism, construction of retail outlets for agriculture, manufacturing of agricultural implements and equipments, raising of vegetable nursery, Tissue Culture Laboratory, warehousing and transportation of agricultural produce, “internet of things” based vertical farming, petrol pumps, EV charging stations, ambulance, silk processing unit, silk reeling units, oxygen cryogenic tanker services, surveyor unit and drilling unit added under Mukhyamantri Swavalamban Yojna.

Now the number of total activities under the scheme increased to 103.  Under this scheme, so far 4,862 cases with investment of Rs. 860.15 crore have been approved by the banks which would provide employment opportunities to about 14,551 people of the state.

At present, 2,593 units with an investment of nearly Rs. 430 crore had been established in the state under this scheme, by providing employment to 7,216 people and Rs. 147 crore approx has been provided as subsidy.  As the State Government has simplified Mukhyamantri Swavalamban Yojna, now more young entrepreneurs of the state are getting benefits from this scheme.

The scheme has preparing the foundation for turning the state into an entrepreneurial centre. Young entrepreneurs are also solving the problem of unemployment by providing employment to skilled and semi-skilled people of the state.

This scheme is proving helpful in providing employment opportunities to educated youth within the State and in stopping the migration of youth to big cities.

The economy of the youth has been strengthened by Mukhyamantri Swavalamban Yojna and the development of the state is also getting boost.

With the support of this scheme, young entrepreneurs have been making their valuable contribution towards realizing the dream of self-reliant Himachal. 

Read also: 

  1. Structure, Organisation, and Functioning of Statutory, Regulatory and various Quasi-Judicial Bodies in Himachal Pradesh – HPAS Mains
  2. Demographic profile and Human resource, Sectoral distribution of Gross State Domestic Product (GSDP) -HPAS Mains
  3. Industrialization in the state of Himachal Pradesh – HPAS Mains
  4. Five Years Plans and Vision for the developed Hill States – HPAS Mains
  5. Human Aspects: Quantitative, Qualitative and Temporal Characteristics of Population in Himachal Pradesh – HPAS Mains
  6. Gorkha invasion- its nature and consequences, Treaty of Segauli.
  7. Emergence and growth of early medieval states: Kangra, Kullu, and Chamba. The Hill States and their relations with the Mughals and the Sikhs

Category: Editorials

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