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8,300 Enterprises To Be Funded Through Chief Minister Self-employment Schemes In UP

Updated: Jun 14, 2024 02:42:43pm

8,300 Enterprises To Be Funded Through Chief Minister Self-employment Schemes In UP

Lucknow, Jun 14 (KNN) The government of Uttar Pradesh has unveiled a series of measures aimed at stimulating the state's rural economy and startup ecosystem.

These initiatives focus on enhancing institutional credit flow and promoting self-employment opportunities for the youth.

According to state officials, approximately 8,300 enterprises are slated to receive funding under two credit schemes: the Mukhyamantri Yuva Swarojgar Yojana (MYSY) and the Mukhyamantri Gramodyog Rojgar Yojana (MMGRY).

A government spokesperson stated, "These schemes are designed to foster self-employment opportunities for young people and generate local employment."

A recent State Level Bankers' Committee (SLBC) report indicates that 6,259 units have been approved under MYSY and 723 under MMGRY.

Sameer Ranjan Panda, the state SLBC convener, emphasized that the initiative "aims to encourage youth entrepreneurship and job creation."

Uttar Pradesh, which houses nearly 52 government-recognised incubators and over 7,200 startups registered with the Department for Promotion of Industry and Internal Trade, is positioning itself as a burgeoning hub for innovation and enterprise.

In a parallel development, the state's tourism department has entered into two agreements to enhance rural tourism and employment generation.

Mukesh Kumar Meshram, Principal Secretary of the State Tourism and Culture Department, elaborated that these partnerships are expected to "foster sustainable tourism, empower local communities, and offer tourists an authentic experience of rural life."

The five-year memoranda of understanding have been signed with the State Rural Livelihood Mission (UPSRLM) and the Manyawar Kanshiram Institute of Tourism Management.

The collaboration with UPSRLM specifically targets the promotion of tourism, development of infrastructure, and empowerment of rural communities through sustainable livelihood programs and improved access to financial services.

These multifaceted initiatives reflect the state government's commitment to diversifying its economic landscape and creating opportunities beyond traditional sectors.

(KNN Bureau)


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