Prime Minister's Employment Generation Programme (PMEGP) | Centrally Sponsored Schemes | By S H Shah

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🔰Prime Minister's Employment Generation Programme (PMEGP)

Why in News
The approval of projects under the Prime Minister's Employment Generation Program (PMEGP) increased 44% during the first five months (April - August) of the financial year 2020-21.

Khadi and Village Industries Commission (KVIC) has approved and forwarded 1.03 lakh project applications to the banks as compared to 71,556 projects during the corresponding period in 2019.
The higher number of projects approved signifies the government’s resolve to create self-employment and sustainable livelihood for the people by promoting local manufacturing.
Key Points
Launch: The Government of India approved the introduction of a credit linked subsidy programme called Prime Minister's Employment Generation Programme (PMEGP) in 2008 for generation of employment opportunities through establishment of micro enterprises in rural as well as urban areas.
Administration: It is a central sector scheme being administered by the Ministry of Micro, Small and Medium Enterprises (MoMSME).
Implementing Agency at the National Level: Khadi and Village Industries Commission (KVIC) - a statutory organization under the administrative control of the Ministry of MSME.
Features: It allows entrepreneurs to set up factories or units.
Eligibility:
Any individual, above 18 years of age.
Only new projects/units are considered for sanction of loans.
Self-help groups that have not availed benefits under any other public scheme, societies, production co-operative societies, and charitable trusts.
Maximum Cost of Project/Unit Admissible:
Manufacturing Sector: Rs. 25 lakh
Service Sector: Rs.10 lakh
Government Subsidy:
Rural Areas: 25% for general category and 35% for special category, which includes SC/ST/OBC/Minorities, NER, Hill and Border Areas.
Urban Areas: 15% for general category and 25% for special category.

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