What is the name of the scheme launched in Uttar Pradesh to empower youth entrepreneurs, and how much has the government allocated in the budget for the financial year 2024-25 to support this initiative?

Solution

• Uttr Pradesh Chief Minister Yogi Adityanath is poised to launch the "Mukhyamantri Yuva Udyami Vikas Abhiyan (MYUVA)" scheme in Uttar Pradesh, aimed at nurturing entrepreneurship among the state's youth. • This ambitious initiative reflects the commitment to empowering young entrepreneurs and fostering a culture of innovation and enterprise. • Through MYUVA, aspiring youth will receive support and resources to kickstart their entrepreneurial ventures, thereby contributing to the economic growth and development of Uttar Pradesh. • Under this scheme, the government aims to prepare one lakh young entrepreneurs every year by providing interest-free loans for projects of up to Rs 5 lakh. • The government has allocated Rs 1,000 crore in the budget for the financial year 2024-25 to support this initiative. • This innovative scheme is designed to empower educated and skilled youth across the state, facilitating selfemployment opportunities and fostering the establishment of new MSMEs. By promoting entrepreneurship, the initiative seeks to generate employment opportunities in both rural and urban areas. • Under the scheme, interest-free loans of up to Rs 5 lakh will be provided to projects in the industry and service sectors. • The goal is to directly benefit one million units (10 lakh units) over the next 10 years by financing 1,00,000 units annually. Learn Along: About Uttar Pradesh Governor: Anandiben Patel                        Chief minister: Yogi Adityanath                             Capital: Lucknow