Who is eligible to apply for the Mukhya Mantri Krishak Udyami Yojana?

The scheme is open to permanent residents of Madhya Pradesh, aged between 18 and 45 years, with a minimum educational qualification of 10th class. Applicants' parents should not own agricultural land, and the applicant should not be an income taxpayer.

What kind of financial assistance is provided?

The scheme offers loans ranging from ₹50,000 to ₹10,00,000. Additionally, it provides capital cost subsidies of 15% (up to ₹12 lakh) for the general category and 20% (up to ₹18 lakh) for the BPL category, with further benefits for specific disadvantaged groups. An interest subsidy of 5% for males and 6% for women entrepreneurs is also provided for up to 7 years, along with coverage of the guarantee fee.

Are there special benefits for specific categories?

Yes, enhanced capital cost subsidies are available for BPL, Scheduled Caste, Scheduled Tribes, Other Backward Classes (non-creamy layer), women, minorities, disabled individuals, liberated nomadic and semi-nomadic tribes, and Bhopal Gas victim family members. Women entrepreneurs also receive a higher interest subsidy.

How long is the loan repayment period?

The loan provided under this scheme is eligible for an interest subsidy and guarantee fee coverage for a maximum tenure of 7 years (84 months).

What types of businesses are eligible?

The scheme aims to help beneficiaries establish 'their businesses' in a broad sense, without specifying particular industries. It is generally intended for micro, small, and medium enterprises that can contribute to self-reliance and employment generation.

Mukhya Mantri Krishak Udyami Yojana – Up to ₹10 Lakhs

The Mukhya Mantri Krishak Udyami Yojana, spearheaded by the Department of Micro, Small & Medium Enterprises, Government of Madhya Pradesh, is designed to empower the sons and daughters of farmers by providing substantial financial assistance to help them establish their own businesses. This scheme addresses the economic vulnerabilities of farming families, aiming to foster self-reliance among economically weak farmers by removing financial barriers to their entrepreneurial aspirations. By supporting new enterprise creation, the program seeks to significantly reduce unemployment within the state and promote a culture of entrepreneurship among the youth from agricultural backgrounds. The initiative is structured to make a tangible impact on local economies by enabling individuals to transition from traditional farming dependencies to diverse business ventures.

The Mukhya Mantri Krishak Udyami Yojana provides crucial financial assistance, primarily through loans ranging from ₹50,000 to ₹10 lakh, enabling farmer's children to launch their entrepreneurial ventures. Beyond the loan, the scheme offers significant capital cost subsidies:

For general category: 15% of the capital cost (maximum ₹12 lakh).
For BPL category: 20% of the capital cost (maximum ₹18 lakh).
For projects less than ₹10 lakh: 15% (max ₹1 lakh) for general, 30% (max ₹2 lakh) for BPL/SC/ST/OBC/Women/Minorities/Disabled.
Additional 30% (max ₹3 lakh) for liberated nomadic/semi-nomadic tribes.
Additional 20% (max ₹1 lakh) for Bhopal Gas victim families. The program also includes an interest subsidy of 5% per annum for male entrepreneurs and 6% for women entrepreneurs, applicable for a maximum of 7 years (maximum ₹5 lakh per annum for projects over ₹10 lakh; maximum ₹25,000 per annum for projects under ₹10 lakh). Furthermore, the scheme covers the guarantee fee at the prevailing rate for a maximum of 7 years, easing the burden of securing loans.

Mukhya Mantri Krishak Udyami Yojana

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