Source: Press Information Bureau
This Scheme was launched for providing financial assistance to set up new enterprises under PMEGP
- The scheme is implemented by Khadi and Village Industries Commission (KVIC) functioning as the nodal agency at the national level.
- At the state level, the scheme is implemented through State KVIC Directorates, State Khadi and Village Industries Boards (KVIBs), District Industries Centres (DICs) and banks. In such cases, KVIC routes government subsidy through designated banks for eventual disbursal to the beneficiaries/entrepreneurs directly into their bank accounts
Nature of assistance under the scheme
- 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 beneficiaries:
- The balance amount of the total project cost will be provided by the banks in the form of term loan and working capital.
Eligibility to apply
- Any individual, above 18 years of age.
- At least VIII standard pass for projects costing above Rs.10 lakh in the manufacturing sector and above Rs. 5 lakh in the business/service sector. Only new projects are considered for sanction under PMEGP. business/service
- Self Help Groups (including those belonging to BPL provided that they have not availed benefits under any other Scheme), Institutions registered under Societies Registration Act,1860;
- Production Co-operative Societies and Charitable Trusts are also eligible.
- Existing Units (under PMRY, REGP or any other scheme of Government of India or State Government) and the units that have already availed Government Subsidy under any other scheme of Government of India or State Government are NOT eligible