Financial Assistance under Prime Ministers Employment Generation Programme, PMEGP
For generating the employment in unban as we as rural area the MSME Department has started the Prime Minister’s Employment Generation Programme (PMEGP)
We can understand following points in this blog:
It means “Prime Minister Employment Generation Programme (PMEGP)”
Following are the Implementation Authority:
Following is the Maximum Project/Unit Cost:
Subsidy under PMEGP (of project cost):
(a) Urban: 15%
(b) Rural: 25%
(a) Urban: 25%
(b) Rural: 35%
Note: Special Category including SC/ ST/ OBC/ Minorities/Women, Ex-servicemen, Physically handicapped, NER, Hill and Border areas, etc.
Balance amount of project cost: by the banks in the form of Term loan and Working capital.
Any Individual can apply subject to the following
Age: above 18 years.
Education: 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.
New Project: Only new projects are considered for sanction under PMEGP.
Self Help Groups: 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 can apply.
Production Co-operative Societies, and Charitable Trusts.
Note: 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.
CA. Rajeev Ranjan Shrivastava