- Industry Department has started online application process for Chief Minister Swarozgar Yojana 2.0.
- The scheme aims to provide employment to 10,000 beneficiaries in the current financial year.
- Subsidy ranges from 15% to 30% on loans depending on the project cost in manufacturing, service, and micro-business sectors.
Chief Minister Swarozgar Yojana 2.0 has been launched by combining the earlier Swarozgar Yojana and the Ultra-Micro scheme. It is designed to run till 2030 and supports individuals seeking self-employment opportunities through financial assistance and loan subsidies.
Understanding Eligibility and Loan Amounts Under Swarozgar Yojana 2.0
Under this scheme, you can apply for loan assistance for different sectors with specified project cost limits:
- Manufacturing sector: Loan amount up to ₹25 lakh
- Service sector: Loan amount up to ₹10 lakh
- Micro business sector: Loan amount up to ₹2 lakh
If you are planning to start or expand your own business in these sectors, this scheme grants you the opportunity to get government help in loan repayment through subsidy offers.
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Subsidy Details for Loan Amounts
- For micro business loans up to ₹2 lakh: 25% to 30% subsidy
- For loans between ₹2 lakh and ₹10 lakh: 20% to 25% subsidy
- For loans from ₹10 lakh to ₹25 lakh: 15% to 20% subsidy
This subsidy reduces the financial burden on you by partially covering the loan amount you need to repay.
How to Apply Online for Chief Minister Swarozgar Yojana 2.0
Applying online is simple and convenient. Here are the steps you need to follow:
Step 1: Visit the official Industry Department portal
Access the online application form via the designated government website. You can find all necessary forms and instructions there.
Step 2: Fill in the application form with accurate details
Provide personal information, business details, project cost, and other required documents while filling the form.
Step 3: Submit your application for scrutiny
After submission, the Industry Department will review your application to check eligibility and completeness.
Step 4: Loan approval and processing by banks
Once your application passes scrutiny, it is forwarded to banks for loan approval. Banks are mandated to process applications according to this timeline:
- Loans up to ₹5 lakh: approval within 2 weeks
- Loans between ₹5 lakh and ₹25 lakh: approval within 3 weeks
These timelines help ensure prompt disbursal of funds to start your business soon.
Getting a loan under the Chief Minister Swarozgar Yojana 2.0 can make your self-employment dreams a reality by easing financial commitments and promoting entrepreneurship. Make sure you prepare the necessary documents and apply online through the official portal without delay.