Prime Minister’s Employment Generation Program (PMEGP)
Employment Generation
PMEGP is a central sector scheme administered by the Ministry of Micro, Small and Medium Enterprises (MOMSME). The scheme is implemented by…
PMEGP is a central sector scheme administered by the Ministry of Micro, Small and Medium Enterprises (MOMSME). The scheme is implemented by Khadi an Village Industries Commission (KVIC)
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Benefits of PMEGP
1. Bank-financed subsidy program for setting up new microenterprises in non-farm sector.
2. Margin Money subsidy on Bank Loan ranges from 15% to 35% for projects up to Rs. 50 Lakh in manufacturing and Rs. 20 Lakh in the service sector
3. For beneficiaries belonging to special categories such as SC/ST / Women/PH/ Minorities/ Ex-Servicemen/NER, the margin money subsidy is 35% in rural areas and 25% in urban areas.
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Eligible Applicants
1. Any individual, above 18 years of age is eligible
2. There will be no income ceiling for assistance for setting up projects under PMEGP
3. No Educational Qualification is required for project cost up to 10 Lakhs for manufacturing and up to 5 Lakhs for service sector
4. 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
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