{"id":24919,"date":"2021-05-07T19:42:16","date_gmt":"2021-05-07T14:12:16","guid":{"rendered":"https:\/\/golocalclassified.com\/article\/?p=24919"},"modified":"2021-05-07T19:42:22","modified_gmt":"2021-05-07T14:12:22","slug":"pmegp-scheme","status":"publish","type":"post","link":"https:\/\/golocalclassified.com\/article\/pmegp-scheme\/","title":{"rendered":"PMEGP Scheme"},"content":{"rendered":"

Prime Minister’s Employment Generation Programme (PMEGP) Scheme<\/b><\/h1>\n

Prime Minister’s Employment Generation Programme (PMEGP)<\/b><\/h2>\n

Prime Minister Rojgar Yojana and the Rural Employment Program were merged into the Prime Minister’s Employment Employment Program or PMEGP in 2008. This step was taken to promote the purpose of the previous two programs to generate employment among the youth. The 2008 program has integrated urban and rural approaches to small business start-ups. Therefore, it contributes significantly to job creation and to economic and national growth.<\/span><\/p>\n

At the National level, the PMEGP is used by the Khadi and Village Industry Commission or KVIC. Many KVIC boards and directors use the program at state level. Funds are disbursed to beneficiaries through selected banks. Under the PMEGP program, by investing only 5% to 10% of the total project cost, beneficiaries can receive up to 35% of funding.<\/span><\/p>\n

The objectives of the Prime Minister’s Employment Generation Programme (PMEGP)<\/b><\/h3>\n

The PMEGP has four objectives:<\/b><\/h3>\n
    \n
  1. Creating jobs in rural areas, as well as in cities in India by establishing new businesses or projects.<\/span><\/li>\n
  2. To provide a coherent foundation for the dispersed traditional artists and unemployed youth in rural and urban areas to come together and create a mechanism for self-employment.<\/span><\/li>\n
  3. Taking steps to stop the migration of people from rural areas to cities in search of jobs by providing them with stable and sustainable jobs. This is especially true for indigenous and future artisans and unemployed youth in rural and urban areas who find traditional or part-time work and remain unemployed throughout the year.<\/span><\/li>\n
  4. To increase the earning capacity of artisans and focus on increasing employment growth in rural and urban areas.<\/span><\/li>\n<\/ol>\n

    PMEGP – Indian Government Credit Link Subsidy Program to support MSMEs<\/b><\/h3>\n

     <\/b><\/p>\n\n\n\n\n\n\n\n\n
    Interest Rate<\/span><\/td>\n11 % to 12%<\/span><\/td>\n<\/tr>\n
    Age Criteria<\/span><\/td>\nMinimum 18 years<\/span><\/td>\n<\/tr>\n
    Maximum project cost<\/span><\/td>\n Rs. 25 lakh for Manufacturing Unit, Rs. 10 lakh for Service Unit<\/span><\/td>\n<\/tr>\n
    Subsidy on Project<\/span><\/td>\nFrom 15% to 35%<\/span><\/td>\n<\/tr>\n
    Eligible Entities<\/span><\/td>\nBusiness owners, Institutions, Co-operative Societies, Charitable Trusts & Self Help Groups<\/span><\/td>\n<\/tr>\n
    Applicant\u2019s Education<\/span><\/td>\nAt least 8th class pass<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

    PMEGP loan interest rate<\/b><\/h3>\n

    The interest rate and support provided under the PMEGP program from different financial institutions will vary from bank to bank and will depend on the applicant profile, business viability and project costs.<\/span><\/p>\n

    Loans under the PMEGP can be obtained from various qualified national banks such as SBI, Bank of Baroda, Canara, Bank of India and other private and public sector banks and NBFCs.<\/span><\/p>\n

    PMEGP Subsidy and Funding<\/b><\/h3>\n\n\n\n\n\n
    Beneficiary Categories<\/b><\/td>\nBeneficiary\u2019s Share<\/b><\/p>\n

    (of Total Project)<\/b><\/td>\n

    		Subsidy Rate<\/b><\/p>\n

    (from Govt.) \u2013 Urban<\/b><\/td>\n

    		Subsidy Rate<\/b><\/p>\n

    (from Govt.) \u2013 Rural<\/b><\/td>\n<\/tr>\n

    General<\/span><\/td>\n10%<\/span><\/td>\n15%<\/span><\/td>\n25%<\/span><\/td>\n<\/tr>\n
    Special<\/span><\/td>\n5%<\/span><\/td>\n25%<\/span><\/td>\n35%<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

    How to apply for a PMEGP<\/b><\/h3>\n

    One can apply for PMEGP on the official website of the<\/span><\/p>\n

    Prime Minister’s Employment Generation Programme<\/span><\/h2>\n

    for both individual and non-individual applicants. Follow these steps and make your app seamless.<\/span><\/p>\n