UP Government Offers Interest-Free Loans Up to Rs 5 Lakh for Youth Entrepreneurs

• Union Home Minister Amit Shah announced the Chief Minister Yuva Udymi Vikas Abhiyan (MYUVA) scheme in Uttar Pradesh.
• The scheme provides collateral-free, interest-free loans of up to Rs 5 lakh with a 10% subsidy to youth for starting businesses.
• So far, 1.3 lakh youth have benefited, with Rs 5,322 crore disbursed; the goal is to create 10 lakh entrepreneurs in 10 years.
• Eligibility requires UP residency, age 21-40, minimum 8th/10th pass, and no bank defaults; trained youth get priority.
• Application is an online process via the UP MSME Department website, requiring project details and document uploads.

Why It Matters: The UP government's MYUVA scheme empowers youth with interest-free loans and subsidies to foster entrepreneurship.