Published on: December 29, 2021
PRIME MINISTER EMPLOYMENT GENERATION PROGRAM
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viciously 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.
- 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.
- 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.