Prime Minister Employment Generation Programme (PMEGP)
Prime Minister’s Employment Generation Program (PMEGP) is executed by the Ministry of Micro, Small and Medium Enterprises (MSME) and is a focal division plot. The activities record a 44% execution bounce. Let us read in insight regarding PMEGP, its destinations, how to apply, who can apply, and so forth.
About Prime Minister’s Employment Generation Programme (PMEGP) –
It is a significant credit-connected appropriation program being executed by the Ministry of MSME since 2008-09 which planned for creating independent work openings through the foundation of small scale ventures in the non-ranch division by giving assistance to the conventional craftsmen and jobless youth in provincial just as urban territories. The plan was propelled by the converging of two plans in particular Prime Minister’s Rojgar Yojana (PMRY) and Rural Employment Generation Program (REGP).
Objectives of Prime Minister’s Employment Generation Programme (PMEGP) –
- In rural as well as city areas, to create employment alternatives within the nation by establishing new self-employment ventures or initiatives or micro-enterprises.
- To supply self-employment alternatives to extensively unfold conventional artisans or rural and concrete unemployed youth by bringing them collectively to the extent potential, at their place.
- Within the nation, to offer steady and sustainable employment to a big section of conventional and potential artisans and rural and concrete unemployed youth. That is completed to assist the arrest migration of rural youth to city areas.
- To extend the wage-earning capability of artisans in order that they will contribute to growing the expansion price of rural and concrete employment.
Implementation of the scheme –
- On the nationwide degree, the scheme is applied by Khadi and Village Industries Fee (KVIC) functioning because of the nodal company.
- On the state degree, the scheme is applied by means of the channel of State KVIC Directorates, State Khadi and Village Industries Boards (KVIBs), District Industries Centres (DICs), and banks.
- The subsidy must be given by means of the designated banks for eventual disbursal to the beneficiaries or entrepreneurs immediately into their financial institution accounts.
Eligibility Criteria or who can apply?
- One should be above the age of 18 years in order to take the advantages of the scheme. along with, One should have 8th standard qualification to establish projects which are costing more than 10 Lakh Rupees in the sector of manufacturing and more than 5 lakh Rupees in the sector of business or service.
- As per PMEGP rules, only new projects will be granted for sanction.
- If a BPL holder has not taken benefits under any other Scheme, can be the part of this scheme.
- Production Co-operative Societies and Charitable Trusts will be eligible under the act of Societies Registration 1860.
Who are not eligible?
The PMEGP loan will be offered to those people who have not already set up or existing units under PMRY, REGP, or any other gov or state govt schemes. if a person has taken benefits of any govt scheme, he/she will be not eligible for PMEGP.
How to apply for the PMEGP scheme?
- The State or Divisional Directors of KVIC publish Advertisements at the local or state level with the help of KVIB and Director of Industries. Applications are received with proposals of projects under PMEGP.
- beneficiaries will be able to apply Online and can fill the application and later, they can get print out of the application. beneficiaries will submit a detailed project reports and other required documents in govt offices.