Odisha Udyam Kranti Yojana

Introduction

• The newly elected Odisha government has announced various schemes in their assembly election manifesto.
• Among them, the government aims to launch the Odisha Udyam Kranti Yojana.
• As the name suggests, this scheme is for people who aspire to start their entrepreneurship journey and want to establish a new venture.
• Under the Odisha Udyam Kranti Yojana, the government will provide an interest free loan to eligible beneficiaries.
• According to the scheme, the beneficiary can avail loan up to Rs 10 lakhs.
• Moreover, the government also provides a subsidy of 50% under this scheme.
• The capital provided under the Udyam Kranti Yojana can be utilized to start a new venture, which opens the doors for new employment.
• Benefit of Odisha Udyam Kranti Yojana will be extended to unemployed youth of the state.
• However, applicants must meet the eligibility criteria prescribed in the scheme guidelines to receive its benefits.
• Loans under the scheme will be disbursed by the banks authorized under the scheme, whose details can be checked in the scheme guidelines.
• The main objective of the scheme is to foster entrepreneurship and economic growth by providing financial assistance and subsidies to these beneficiaries.
• Currently, the government has not announced much about the Odisha Udyam Kranti Yojana.
• However, the beneficiary curiously waiting for its implementation may expect good news in the coming weeks.
• Once we receive detailed information about the Odisha Udyam Kranti Yojana, we will provide the same here.
• The users can also subscribe to our page, to receive such latest updates about the Udyam Kranti Yojana.

Benefits of Scheme

• Under the Odisha Udyam Kranti Yojana, the government intended to provide the following benefits to the beneficiaries: -
  • Loans of up to Rs 10 lakh will be provided to each beneficiary to start their entrepreneurial journey.
  • The provided loan will be interest free and most probably collateral free.
  • Under the provided loan the government will also offer a 50% subsidy to each applicant.

Eligibility Criteria

• Before applying for the Odisha Udyam Kranti Yojana, beneficiaries must check its eligibility criteria. Those who adhere with the guidelines can apply. However, the details of the eligibility are yet to be announced, so the criteria outlined below are tentative and subject to change.
  • Applicant must be a domiciled resident of Odisha.
  • Loans under the scheme will be provided to establish new ventures.
  • The minimum education qualification for applicants is intermediate.
  • Applicants must not be defaulter with any bank or financial institution.
  • Applicants paying income tax must produce the last three years statement.
  • Applicants must not be receiving similar benefits from the central or state government.
  • The age of the applicants should be between 18 to 40 years.

Documents Required

• Beneficiaries must keep their following documents beforehand while applying for the Odisha Udyam Kranti Yojana.
  • Aadhaar Card.
  • Address Proof.
  • Domicile.
  • Bank Details.
  • PAN Card.
  • Project Details.
  • ITR Details (if any)
  • Caste Certificate.
  • Disability Certificate (if any)
  • Passport Size Photograph.

How to apply

• To receive benefits of the Odisha Udyami Kranti Yojana, applicants must submit their application form.
• However, the mode of the application form will be online or offline is not announced.
• But it's essential for all beneficiaries to keep their basic details and documents ready beforehand.
• Submitted applications will go through a scrutiny test as outlined in the scheme guidelines.
• Applications passed the scrutiny test will be issued loan within a prescribed time frame.
• Further details of the application will be shared here once the government officially release it.

Important Link

• Odisha Udyam Kranti Yojana application link will be provided soon by the authority.
• Odisha Udyam Kranti Yojana Guidelines will be shared once the scheme is implemented.
• Odisha Micro Small and Medium Enterprise Department Official Website.

Contact Details

• Odisha Udyam Kranti Yojana contact details will be shared by the authority soon.
• Odisha MSME Contact Details.