More than 20 Lakh persons have been provided employment under the Prime Minister’s Employment Generation Programme (PMEGP) which is being implemented by the Ministry of Micro, Small and Medium Enterprises.
The PMEGP is a major credit-linked subsidy programme aimed at generating self-employment opportunities, as well as wage employment through establishment of micro-enterprises in the non-farm sector by helping traditional artisans and unemployed youth. KVIC is the Nodal agency at national level to implement the scheme across the country.
Under the PMEGP any project in the manufacturing sector costing upto Rs 25 lakh, and in the service sector upto Rs 10 lakh, is eligible for assistance under this scheme. The assistance is in the form of margin money subsidy for mobilising Bank credit. The rate of subsidy is 25% of the project cost in the rural area and 15% in the urban area for General category.
For special categories like SC/ST, OBC, minorities, women, ex-servicemen, physically handicapped, NE Region, hill and border areas, etc., the rate of subsidy is 35% in rural areas and 25% in urban areas. The beneficiary contribution is 5% of the project cost for special categories and 10% for general categories. Any individual above 18 years of age is eligible for assistance.
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