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MP Govt to Launch Udyam Kranti Yojana Tomorrow; Fight Unemployment By Offering Collateral-Free Bank loans to Youth

People from 18 to 40 years of age can take part in the scheme for starting self-employment up to Rs 50 lakh.  (File photo/News18)

People from 18 to 40 years of age can take part in the scheme for starting self-employment up to Rs 50 lakh. (File photo/News18)

Udyam Kranti Yojana, which aims at offering employment opportunities to close to one lakh youths, will be launched by the Chief Minister on April 5

With an eye on 2023 assembly polls, the Shivraj Singh Chouhan government in Madhya Pradesh is planning to rob the opposition of a key poll issue –unemployment, by launching a scheme that aims at linking one lakh to employment.

Udyam Kranti Yojana, which aims at offering employment opportunities to close to one lakh youths, will be launched by the Chief Minister on April 5.

Speaking to News18 on the scheme on Monday, State MSME minister Om Prakash Saklecha said that collateral-free bank loans will be offered to the educated youth to link them to this scheme.

People from 18 to 40 years of age can take part in the scheme for starting self-employment up to Rs 50 lakh. From Rs 1 lakh to 25 lakhs, the state government will help youth secure bank loans, said the minister. The scheme will emphasize on the manufacturing sector.

Avinash Bapat, a member of Capsimise claimed that the manufacturing sector offers immense potential in the state including in pharmaceutical, textile and other areas. It’s an ideal time when the state government could provide a launchpad to the youth by offering them opportunities in the manufacturing sector.

However, the opposition Congress seemed unimpressed with the proposed move. Senior party leader Dr Govind Singh commenting on the scheme said that the state government has been making hollow promises of jobs for a long. “The government should come up with details on how many got jobs in the present government. We will be including unemployment among key poll issues,” said Dr Singh.

The state government after holding rozgar melas regularly is now turning to this scheme for addressing the concern.

A report released by CMIE on Sunday puts Madhya Pradesh among states who have low unemployment rates. The unemployment rate is 1.4% in MP, says the report which mapped joblessness among Indian states.

CG has lowest unemployment-CMIE

According to a report released by the Centre for Monitoring Indian Economy (CMIE) on Monday, Chhattisgarh has the lowest unemployment rate at 0.6%, the lowest among states. The Congress-ruled Rajasthan has a 25% unemployment rate. CG Chief Minister Bhupesh Baghel was buoyed by the findings and tweeted, “With 0.6% unemployment rate, CG is the state with minimum joblessness whereas national rate stands at 7.6%. Greetings to the public which is associated with our efforts”. “It’s an impact of individual-based policies chalked out by our government,” Baghel told the media.

(With Inputs from Vivek Trivedi)

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first published:April 04, 2022, 21:23 IST