Bhopal, Madhya Pradesh Chief Minister Shivraj Singh Chouhan, while addressing the convention of hair craftsmen, said that the youth would be given the benefit of Street Vendor Scheme, Mudra Yojana and Mukhyamantri Udyami Kranti Yojana to open state-of-the-art hair cutting salons. It is noteworthy that maximum loan of Rs.2500000 is available in these schemes.
Under the street vendor scheme operated in Madhya Pradesh, a loan of ₹ 10000 is available on which no interest has to be paid. Loan up to ₹ 50000 ₹ 1000000 is available under the Mudra scheme of the central government. In this, the youth do not have to give any bank guarantee on their behalf. The government takes their guarantee. Interest is also subsidized.
Under the Chief Minister Udyam Kranti Yojana, loans ranging from ₹ 100000 to ₹ 5000000 are available. In this loan also, the guarantee is taken from the government. No property is required to be mortgaged. No bank guarantee is required. 3% subsidy is given by the state government.