UP Cabinet Approves Self-Employment Scheme for Youths && Private Universities

Lucknow, Oct 1 (PTI) The Uttar Pradesh government on Tuesday decided to implement a scheme under which subsidy will be provided on loans for projects up to Rs 5 lakh in microenterprises and service sector with the aim of providing self-employment opportunities to youths.

The proposal to implement the 'Mukhyamantri Yuva Udyami Vikas Abhiyan' was approved in the cabinet meeting chaired by Chief Minister Yogi Adityanath.

This scheme has been started keeping in mind the important contribution of the Micro, Small and Medium Enterprises (MSME) sector in the state's economy, a statement issued here said.

A total of 25 proposals were approved in the cabinet meeting, it said.

Minister of MSME Rakesh Sachan said that under this scheme, 10 lakh micro units will be established in the next 10 years, through which financial assistance will be provided every year to one lakh educated and trained youths of the state.

The objective of the scheme is to generate employment in rural and urban areas and to connect the youth of the state with self-employment.

Under this scheme, the minimum educational qualification of the applicant should be class eight pass, although intermediate pass applicants will be given priority, he said.

Apart from this, it will be mandatory for the applicant to be trained under various government schemes, such as Vishwakarma Shram Samman Yojana, One District One Product Scheme, Scheduled Caste/Tribe Training Schemes and Skill Upgradation Program run by Uttar Pradesh Skill Development Mission, he said.

He said that under this scheme, a subsidy will be provided on loans for projects up to Rs 5 lakh in microenterprises and the service sector.

The youths who will benefit for the first time under this scheme will also be eligible for the second phase, where they will be provided financial assistance for projects up to a maximum of Rs 10 lakh.

Digital transactions have also been promoted in the scheme, under which an additional grant of Rs 1 per transaction and a maximum of Rs 2000 per year will also be given.

The cabinet also approved the UP Agris scheme to increase the income of farmers.

Agriculture Minister Surya Pratap Shahi said that there are nine climatic zones in UP and the productivity of Bundelkhand and northeast regions is less than that of the west region.

The project will be implemented in the districts of Jhansi, Chitrakoot, Gorakhpur, Varanasi, Vindhya, Azamgarh and Basti and the Devipatan division.

The state cabinet has approved the implementation of the 'Uttar Pradesh Higher Education Promotion Policy, 2024' to ensure quality education for the youths.

Under this policy, sponsoring bodies will be provided stamp duty exemption, capital subsidy, and special benefits. Also, additional benefits will be given to universities that rank in the top 50.

Higher Education Minister Yogendra Upadhyay said that this policy will encourage private investment to meet the growing demand for higher education in the state.

Through this, students will get an opportunity to get high-quality education in the state itself.

Apart from this, the establishment of private universities will also generate direct and indirect employment opportunities for the youth of the state.

The cabinet meeting also approved proposals to establish two new private universities in Mathura and Meerut.

A letter of intent has been issued to 'Rajiv Memorial Academic Welfare Society' for setting up KD University in Mathura.

Similarly, a proposal of 'Vidya Bal Mandali' for setting up Vidya University in Meerut on 42.755 acres of land has also been approved.