If you want to do business then the central government is giving a loan of Rs 50 lakh, apply like this…
Pradhan Mantri Employment Generation Program (PMEGP) is a scheme launched by the Central Government with the intention of providing employment to the rural and urban unemployed youth of India. Earlier the Center used to run two types of schemes, Pradhan Mantri Rojgar Yojana and Rural Employment Generation Scheme. Both these schemes have been merged into Pradhan Mantri Employment Generation Scheme (PMEGP)
Objective of PMEGP
Its main objective is to provide employment and job opportunities to the unemployed by setting up self-employment schemes/projects/micro and small industries in rural and urban areas.
What is the loan for?
Newly established small, micro and cottage industry units are given loans up to the level of industry. However, no loan will be given for expansion and restoration of already established old units under this scheme. Also, this scheme is not applicable to those included in the list of negative industries. The central government has decided to implement this scheme till 2026.
How much loan can be obtained?
Under this scheme, the loan for new manufacturing unit is Rs 10 lakh per unit. Loan up to Rs 50 lakh. In case of service units, loan facility of up to Rs 20 lakh will be given.
How much subsidy is available?
If the applicant is SC, ST, OBC, woman, transgender, physically handicapped, then projects to be set up in rural areas will get a maximum subsidy of 35 percent. At the same time, 25 percent discount has been given for projects in urban areas. General category candidates will get 25 percent subsidy for the unit to be set up in rural areas and 15 percent in urban areas.
Eligibility for PMEGP scheme
- All people above 18 years of age are eligible.
- Must have passed at least 8th class.
- Self-help groups are eligible.
- Only one person from a family is eligible.
Documents required for PMEGP application
- Duly filled application, along with your passport size photograph
- Project report for your proposed unit
- Identity card, Address proof regarding your address
- PAN card
- Aadhaar card
- Certificate in case of special category
- Certificate issued by Entrepreneur Development Programme (EDP) for training provided by Central
- Government
- Certificate for SC, ST, OBC, Minority, Ex-Serviceman, PHC
