To generate self-employment opportunities among unemployed youths and artisans, the Government of India has introduced the Prime Minister Employment Generation Programme or PMEGP scheme.
Curious about the benefits, eligibility criteria and other information of this scheme?
Read on to develop thorough knowledge about PMEGP scheme details.
Introduced in 2008, the Prime Minister Employment Generation Programme is a credit-linked subsidy programme of the Government of India. This scheme is a merger of two schemes named Pradhan Mantri Rojgar Yojana and Rural Employment Generation Programme.
The Ministry of MSME administers this PM Employment Generation Programme. At the national level, it is implemented by the Khadi and Village Industries Limited (KVIC). At the state level, it is implemented through State Khadi and Village Industries Boards (KVIBs), State KVIC Directorates, District Industries Centres (DICs) and banks.
Here, KVIC process government subsidies through registered banks for disbursal to the beneficiaries or entrepreneurs directly into their bank accounts.
The Prime Minister's Employment Generation Programme (PMEGP scheme) is introduced to resolve certain objectives. These are discussed below -
Below are some of the beneficial features of the PMEGP scheme. These include -
Manufacturing sectors and business/service sectors can get the project cost of a maximum of ₹ 25 lakh and ₹10 lakh, respectively.
Note: Banks will provide the rest of the total project cost in the form of term loans and working capital.
To avail of the financial assistance offered under the PMEGP scheme, individuals have to fulfil certain eligibility parameters. These include -
To complete PMEGP online application process, you have to visit the official website of Prime Minister's Employment Generation Programme and follow the steps mentioned below,
Upon successful application, you will receive an application ID and a password on your registered mobile number.
Individuals willing to complete PMEGP online registration must fill out a form available at the official website. Then, they have to submit the form to complete the registration process.
Here is a list of important PMEGP loan documents that applicants need to keep handy while applying for the same.
To check PMEGP online application status, you have to visit the official website of Khadi & Village Industries Commission and follow the steps mentioned below,
Hopefully, the above discourse on PMEGP Scheme has helped you understand its benefits and eligibility criteria in detail. Now, you can easily follow the application process to enjoy the advantages of this scheme.
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Disclaimer: This information is added only for informative purposes and collected from different sources across the Internet. Digit Insurance is not promoting or recommending anything here. Please verify the information before making any decisions.
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