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About PMEGP Scheme
The Government of India merged two schemes, namely Rural Employment Generation Programme and Pradhan Mantri Rojgar Yojana, to introduce a new scheme called Prime Minister’s Employment Generation Programme (PMEGP) Scheme. It is a credit-linked subsidy scheme that supports micro-enterprises in rural and urban India in their establishment, intending to generate employment opportunities for the country’s youth.
In this article, we will be discussing the Prime Minister’s Employment Generation Programme in detail. We will cover the benefits, objectives, PMEGP Scheme eligibility criteria, online application process, and every other important information related to the scheme. So read the full article to know these details.
Prime Minister’s Employment Generation Programme 2024
The objective behind launching PMEGP Scheme is to support self-employment ventures and projects across India. This scheme provides self-employment opportunities to a wide section of unemployed youth and traditional artisans to create self-employment. Furthermore, by supporting micro-enterprises in rural areas, the aim is to arrest the youth migration into big cities and towns.
This scheme provides Rs 10 to 25 lakh loans to support micro-enterprises in the manufacturing, business, and service sectors. It is a central government scheme, and the Ministry of Micro, Small, and Medium Enterprises administers it. Khadi and Village Industries Commission (KVIC) is the national level nodal agency, and at the state level, State Khadi and Village Industries Boards (KVIBs), State KVIC Directorates,
District Industries Centres (DICs) and banks are responsible for its implementation.
PMEGP Scheme Loan Details
- Bank loans of up to 90-90% of the total project cost are provided.
- Out of this, the government PMEGP subsidy amounts to 15-35%, and 60-75% is given as a term loan by the bank
- 11-12% regular interest rate is applicable on bank loans.
- The duration for repayment of the loan is 3-7 years.
PMEGP Government Subsidy
- Urban India – 15% and 25% for general and special category respectively.
- Rural India- 25% and 35% for general and special category respectively.
Special Category –
SC/ST/Minorities/OBC/Hill, NER, and Border Areas.
Maximum Admissible Cost for Project
- The service sector- Rs 500000
- Manufacturing sector- Rs. 2500000
Eligibility for PMEGP Scheme
Below are some eligibility criteria that one has to meet to take advantage of this scheme.
- Applicants applying for this scheme should be 18+ in age.
- For taking assistance under PMEGP Yojna for an above Rs 5 lakh service/business sector project or above Rs 10 lakh manufacturing sector project, the required educational qualification for applicants is 8th standard passed.
- Help is only provided to new projects.
- Any self-help group which are not taking similar benefits from any other scheme can apply for PMEGP Scheme
- Any project without capital expenditure cannot get help under this scheme.
- Only one member from one family can take advantage of this scheme.
- Existing enterprises under REGP, PMRY, or any other similar scheme that have availed Government Subsidy are not considered eligible under PMEGP Scheme.
Online Application Process
Here are the steps that you need to follow for the Prime Minister’s Employment Generation Programme apply online.
1. You have to click the link given below, and it will take you to the KVIC official website. @www.kviconline.gov.in
2. When the homepage opens on your screen, search for the PMEGP option.
3. When you click it, it will take you to PMEGP E-portal.
4. Then, you have to select the link for Online Application Form For Individual/Online Application Form For Non-Individual.
5. Then, the Application form for the Prime Minister’s Employment Generation Programme will be opened on your screen.
6. It will ask you for details like the applicant’s name, activity type, first financing Bank, sponsoring agency, etc.
7. Enter the details and then select save application data.
8. After that, upload the documents required.
9. After checking everything, hit the submit button, and your application form will be submitted.
10. On your registered mobile number, your application ID and password will be sent after successful submission.
Documents Required
- Aadhar card
- PAN card
- Residence proof
- Caste certificate
- Educational qualification certificate
- Mobile number
- Recent photographs
Contact Details
We tried to make everything clear in this article. However, if you still have any queries or doubts about this scheme, you can seek help from the officials by writing a mail on the email address provided below or by contacting them on the toll-free number.
Helpline number: 022 2671 0021
Email: regkvic@gmail.com
Hope you found this article helpful.
