MYUVA Scheme

• 08 Mar 2025

Why in News? 

The Uttar Pradesh government distributed loans worth Rs 100 crore to 2500 beneficiaries of Gorakhpur and Basti divisions under Mukhyamantri Yuva Udyami Vikas Abhiyan. 

• Besides this, toolkits were also provided to 2100 trainees under the ODOP (One District One Product) scheme. 

Key Points 

• About MYUVA Scheme: 
  • Under this scheme, the state government aims to create one lakh young entrepreneurs every year by providing interest-free loans for projects up to Rs 5 lakh . 
    • The government has allocated Rs 1,000 crore in the budget for the financial year 2024-25 to support this initiative . 
  • It is designed to empower educated and skilled youth across the state, facilitate self-employment opportunities and promote the setting up of new MSMEs (Ministry of Micro, Small and Medium Enterprises) . 
  • Beneficiaries who have received training under various government-run schemes such as Vishwakarma Shram Samman Yojana , One District One Product Training and Toolkit Scheme , SC, ST, OBC Training Scheme and skill upgradation run by Uttar Pradesh Skill Development Mission will be eligible for assistance. 
    • Additionally, youth having certificates, diplomas and degrees from educational institutions will also be entitled to benefits under the scheme. 
  • On successful repayment of the first loan, the units will be eligible for the second stage of funding, where a composite loan up to double the initial amount or Rs 7.50 lakh can be provided. 

One District One Product Programme(ODOP)  

• Introduction: 
  • ODOP is an initiative to promote economic development at the district level by promoting and branding one product from each district of the country . 
  • It was launched on 24 January 2018, on the first foundation day of Uttar Pradesh. 
• Objective: 
  • Preserve and develop local arts/skills and promote creativity. 
  • Increase in income and local employment (resulting in reduced migration for employment ). 
  • Improvement in product quality and skill development . 
  • Transforming products in artistic ways (through packaging, branding). 
  • Linking production with tourism (live demos and sales outlets – gifts and souvenirs). 
  • To resolve the issues of economic differences and regional imbalances