SignatizePMEGP
The Prime Minister’s Employment Generation Programme (PMEGP) is a subsidy scheme that was launched by the Government of India in 2008.
Objective:
The objective of PMEGP is to generate employment opportunities in rural as well as urban areas of the country by promoting MSMEs. Under the scheme, financial assistance is provided to new and existing MSMEs in the form of a subsidy on total project cost.
Who can Apply?
Any individual, above 18 years of age can apply. This scheme is available to Manufacturers, Traders and Service Providers. The maximum project cost allowed under the scheme is INR 50 lakhs for the Manufacturing sector and INR 20 lakhs for the Service / Trading sector.
Benefits:
The scheme provides a maximum subsidy of 25% of the project cost in Urban Areas and 35% of the project cost in Rural Areas for general category Female beneficiaries (10% less for general category Male beneficiaries). For Special Category beneficiaries, the subsidy is 35% of the project cost in both Rural and Urban Areas.
The beneficiaries are required to contribute a minimum of 10% of the project cost in the case of the general category and 5% of the project cost in the case of the special category and remaining portion shall be financed by Banks as Loan facility.
The scheme is implemented by the Ministry of Micro, Small and Medium Enterprises (MSMEs) through the Khadi and Village Industries Commission (KVIC) and the District Industries Centres (DICs). PMEGP has been successful in promoting entrepreneurship and generating employment opportunities in the country. The scheme has helped in creating a large number of micro-enterprises, particularly in rural areas, which has led to the Overall Development of the Economy.
How to Apply?
Apply on:
