Govt. of Madhya Pradesh makes amendment in the Mukhyamantri Udyami Kranti Yojna

Oct 05, 2022 | by TeamLease RegTech Legal Research Team

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Commercial ComplianceThe Government of Madhya Pradesh on September 30, 2022, issued a notification to make amendments to the Mukhyamantri Udyami Kranti Yojna. 

The following amendments have been stated:

• clause no. 1 (i) in part (a) and (b) and in clause 1(iii) (a), part (c) is substituted as follows and part (c) in paragraph 1(i) is added as follows:

1(i) Project Scope: 

(a) Industry (Manufacturing - Manufacturing) Amount for the unit Rs.50 thousand to Rs.50 lakh for 4 units.

(b) Projects for service unit and retail business with an amount ranging from Rs. 50 thousand to Rs. 25 lakh. 

(c) For industry/service/business, projects of more than the maximum project limit mentioned in (a) and (b) can be accepted, but in such cases financial assistance (interest grant and loan guarantee fee reimbursement) to the beneficiary. The maximum loan amount of Rs. 50 lakh (manufacturing unit) or loan amount up to Rs. 25 lakh (service / retail business unit) will be available on Pro Rata Basis only. In such cases it is necessary that the entire loan given by the bank Collateral free. 

1(iii)Financial Assistance: (a) Interest Subvention: (Interest Subsidy) 

(c) The amount of interest subsidy will be provided on quarterly basis as reimbursement. (Note- In all the cases of loan disbursed from the start date of the scheme, the beneficiaries will be eligible to get interest subsidy on quarterly basis.)

[Notification No. F 02-02/2021/A-73]


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