Himachal Pradesh government is laying special emphasis on giving support to local startups through mukhyamantri swalamban yojna (MSY) for starting innovative projects in the state.
Through this scheme the state government is providing training to develop skills, facility of handholding and mentorship to young entrepreneurs for establishing manufacturing units, trade and identified services sector costing up to one crore for men between age group of 18 to 45 and women between 18 to 50 years .
Twenty five percent subsidy for men, thirty prevent subsidy for women and thirty five subsidy for widows is given on purchase of machinery up to sixty lakhs, besides five percent interest subvention for three years.
The State Government has added many activities under this scheme and total 103 activities are available under the scheme and information in this regard can be sought form the industries department.
At present, 2,593 units with an investment of nearly Rs. 430 crore had been established in the state under this scheme by providing employment to 7,216 people and nearly Rs.147 crores have been given in subsidies .
The state government proposes to include 4,862 more entrepreneurs under the scheme and has simplified the MSY so that maximum people could draw benefit of this scheme.
This scheme is proving helpful in providing employment opportunities to educated youth within the State and in stopping the migration of youth to big cities. This economy of the youth has been strengthened by the MSY and the development of the state is also getting boost.
With the support of this scheme, young entrepreneurs have been making their valuable contribution in realizing the dream of self-reliant Himachal.