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Home Economy

Prime Minister Employment Generation Program (PMEGP)

January 12, 2021
in Economy
Reading Time: 2 mins read
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Prime Minister Employment Generation Program (PMEGP)
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In News

  • PMEGP projects record 44% implementation jump.

About Prime Minister’s Employment Generation Programme:

  • PMEGP is a central sector scheme administered by the Ministry of Micro, Small and Medium Enterprises (MoMSME).
  • Launched in 2008-09, it is a credit-linked subsidy scheme which promotes self-employment through setting up of micro-enterprises, where subsidy up to 35% is provided by the Government through Ministry of MSME for loans up to ₹25 lakhs in manufacturing and ₹10 lakhs in the service sector.

Implementation:

  • National Level- Khadi and Village Industries Commission (KVIC) as the nodal agency.
  • State Level- State KVIC Directorates, State Khadi and Village Industries Boards (KVIBs), District Industries Centres (DICs) and banks.

Nature Of Assistance

  • The maximum cost of the project/unit admissible in the manufacturing sector is ₹ 25 lakhs and in the business/service sector, it is ₹ 10 lakhs.
  • Categories of Beneficiary’s Rate of subsidy under PMEGP (of project cost)
  • Area (location of project/unit) General category 15%(Urban), 25%(Rural), Special 25%(Urban), 35%(Rural)
  • (including SC/ ST/ OBC/ Minorities/Women, Ex-servicemen, Physically handicapped, NER, Hill and Border areas, etc.)
  • The balance amount of the total project cost will be provided by the banks in the form of term loan and working capital.

Who can apply?

  • Any individual above 18 years of age, Self Help Groups, Institutions registered under Societies Registration Act 1860, Production Co-operative Societies and Charitable Trusts are eligible.
  • Existing Units and the units that have already availed Government Subsidy under any other scheme of Government of India or State Government are not eligible.
  • Only new projects are considered for sanction under PMEGP

Khadi and Village Industries Commission (KVIC) 

  • Statutory body of the Indian Constitution. 
  • It comes under the Ministry of Micro, Small and Medium Enterprises. 
  • It was established by Khadi and Village Industries Act, 1956. 
  • It has been amended twice, in 1965 and 2006
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Source: THE HINDU & PIB
Tags: PrelimsYojana

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