NEWS

Success of PMEGP was discussed recently

ABOUT THE PROGRAM

• Central sector scheme
• Administered by the Ministry of Micro, Small and Medium Enterprises (MoMSME).
• Launched in 2008-09
• Credit-linked subsidy scheme
• 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.
• Eligibility:
  • 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.