Varanasi: As many as 3,824 youth in Varanasi have been disbursed loans worth Rs 164.65 crore since financial year 2024-25 under the govt’s Mukhyamantri Yuva Udyami Vikas Yojana, deputy commissioner (industries) Abhishek Priyadarshi said on Thursday.He added that a subsidy of Rs 16.46 crore has also been provided to the beneficiaries.According to the District Industries Promotion and Entrepreneurship Development Centre, compared with financial year 2024-25, a nearly fivefold increase was recorded in the number of youth receiving loans under the scheme in 2025-26. In the current financial year 2026-27, too, loans have already been made available to most of the targeted beneficiaries within the first two months.The achievement is being seen as evidence of growing entrepreneurship among youth and the success of govt incentive policies.Priyadarshi said the govt is providing youth in the 21-40 age group an opportunity to set up industries under the scheme. Eligible applicants can avail themselves of an interest-free, collateral-free loan of up to Rs 5 lakh to start ventures in the industrial and service sectors. Under the scheme, beneficiaries are also not required to pay EMIs for the first six months.If an applicant successfully repays the loan of up to Rs 5 lakh within four years, he or she becomes eligible for a loan of up to Rs 10 lakh. In the first phase, beneficiaries receive an interest-free loan along with a 10% grant. In the second phase, loans of up to Rs 7.5 lakh are eligible for a 50% interest subsidy.Priyadarshi said the scheme has instilled renewed confidence in self-reliance and entrepreneurship among the youth of Varanasi. A large number of young people are joining small industries, the service sector, manufacturing units and various self-employment activities. They are not only generating employment for themselves but also creating jobs for others.
