Motivation Of Unemployed Persons To Start Self-Employed Enterprises Scheme

About This Scheme

The scheme “Motivation of Unemployed Persons To Start Self-Employed Enterprises Scheme (MUPSES)” was launched by the Union Territory of Puducherry in the year 2006 with a view to encouraging self-employment among the youth in manufacturing and service activities largely in support of the growing economy of the Union Territory of Puducherry. Objective: To encourage unemployed persons in the U.T. of Puducherry to start self-employment in manufacturing or service sector enterprises. Activities Covered: All economically viable service and industrial activities. Mechanized laundry, Beauty Parlour (Saloon), Tailoring units, and Setting up of Hygienic Tea / Coffee Stalls are presently encouraged under the scheme. Project cost: Up to ₹2, 00,000/-. Means of finance: Finance from Banks / Financial Institutions Interest: Normal bank rate of interest on the date shall be charged.

Eligibility

1. Unemployed Men and Women of the Union Territory of Puducherry are eligible to apply under the scheme. 1. The age of the applicant should be as per the existing norms of banks. 1. No formal education is required. However, the applicant should know to read and write fluently. 1. No limit on family income. 1. The applicant should be a permanent resident of the Union Territory of Puducherry for at least 3 years.

Benefits

1. Under the scheme, the applicant may get a loan from ₹10,000/- to ₹2,00,000/- to set up a startup in the manufacturing and/or service sectors. 1. 50% of the project cost excluding pre-operative and preliminary expenses will be granted as a subsidy for the projects not exceeding ₹50,000/- 1. 35% of the project cost excluding pre-operative and preliminary expenses to a maximum of ₹35,000 will be granted as a subsidy for project costs exceeding ₹50,000 but less than ₹2.00 lakhs. Note: The amount of the Loan will be disbursed as soon as the beneficiary completes the formalities required by the Banks.

How to Apply

Where This Comes From

This scheme was sourced from myScheme, the Government of India's official Central+State scheme discovery portal, and reviewed by an editor before publishing. Use the button above to read the full details and apply directly on the official source.