MP govt keen to empower youth by encouraging entrepreneurship: CM Yadav

Bhopal, Oct 13 (PTI) Madhya Pradesh Chief Minister Mohan Yadav on Monday reaffirmed the state government's commitment to empowering youth by promoting entrepreneurship and fostering self-reliance.

Addressing a conference of micro, small, and medium-sized entrepreneurs, Yadav said the government's objective is to empower young people by encouraging entrepreneurship and enabling them to become self-reliant.

"The state is celebrating this year as the Year of Investment and Employment. Today, we are investing in our youth, our dreams, and our bright future", he said.

He highlighted the success of the Udyam Kranti Yojana (UKY), which has helped thousands of youth launch their own businesses with support from banks. "Now, our youth are becoming job creators, not job seekers," he added.

Under the UKY, loans totalling over Rs 347 crore are being provided to 5,084 young people.

Hailing MSMEs as the backbone of the Indian economy, Yadav said they replenish the nation's coffers, provide employment opportunities, and strengthen the foundation of a self-reliant India.

"Before Diwali, the light of building a new India has spread on this platform", he said, adding that today's conference is not an industrial event, but the beginning of the festival of lights for a new India.

On the occasion, Yadav distributed incentive assistance of over Rs 197 crore to 700 MSME units under the Micro, Small, and Medium Enterprises Department's scheme with a single click.

Under the government's new startup policy, the chief minister also presented cheques to 63 startups under a scheme, amounting to over Rs 1 crore at the rate of Rs 1.20 lakh per startup annually.

Yadav also provided land allotment letters to 237 MSME entrepreneurs.

He also distributed bank loan assistance of over Rs 347 crore to 5,084 youths under the UKY.

Yadav interacted with the entrepreneurs at the conference and informed them about the government's efforts to develop and promote the MSME sector.

The chief minister expressed his happiness that 700 MSME units received incentive assistance of Rs 197 crore today.

He said over 800 million people in India are involved in MSMEs. PTI MAS NSK