Get Loans Ranging from Rs 50000 to Rs 2 crore under Mukhyamantri Krishak Udyami Yojana; Know How?

From time to time, the central and state governments have launched many schemes for the welfare of farmers and to make them financially strong. Though farmers have never-ending problems in their life, but finance is one very big issue. Due to lack of money, they are not able to do buy good quality seeds, latest machines or equipment etc. To help farmers deal with this problem the government has launched few schemes that provide financial support to the annadatta.

In the same sequence, the Madhya Pradesh government had launched a very important Mukhyamantri Krishak Udyami Yojana in the year 2014 for the young farmers of the state. In this scheme, loans ranging from 50000 to 2 crore are allocated to the young farmers of MP.

Agricultural business loans 

As we know that the farmers get very little profit in farming and in such a situation, they leave agricultural work and migrate to big cities to earn money. Considering these things, this scheme has been implemented by the MP government so that farmers can start a business of their own by taking loans under the ' Mukhyamantri Krishak Udyami Yojana'.

Loans under Mukhyamantri krishak udyami yojana

After several changes in this scheme, currently farmers of Madhya Pradesh can get a loan of Rs. 50000 to Rs.2 crore for a business from the bank.

How to apply for agriculture business loan?

If a farmer’s son or daughter wants to get loan to start any business under this scheme, then first of all, he will have to fill Form 1 on the official government portal. https://msme.mponline.gov.in/

 Click the link given above and then tap - Micro, Small and Medium Enterprises Department. Then enter all information such as your name, email address, phone number. You will also have to verify a password to sign in further. After doing all this, when you submit the form, you will be provided with an application number.

After signing up, you have to login under the Mukhya Mantri Udyami Yojana via your phone number and password.  Then you will have to report the details of the project for your business and if you need loan above 10 lakh then you will need to get your business report verified by a chartered accountant.

Eligibility for Mukhyamantri Krishak Udyami Yojana

• Applicant must be a native of Madhya Pradesh.

• The applicant must be at least 10th pass

• He should be 18 years to 45 years.

• Whatever business you want to start under this scheme, the business should be established within the border of state.

There is no restriction on the limit for applying in this scheme, but remember that whoever applies for loan, his parents should not be income tax payers.

Whoever applies should not be a defaulter in any nationalized bank or financial institution or co-operative bank.

If a person is already receiving assistance under a government entrepreneur or self-employment scheme, then he will not be eligible to apply for this scheme.

Under the Mukhyamantri Krishak Udyami Yojana, young farmers can start the following types of agro-based projects: -

• Agro processing

• Food processing

• Milk processing

• Cold storage

• Tissue culture

• Rice mill

• Custom hiring center etc