PRIME MINISTER'S EMPLOYMENT GENERATION PROGRAMME

 

PRIME MINISTER'S EMPLOYMENT GENERATION PROGRAMME:

1. This programme is to generate employment opportunities for unemployed youth across the country by helping or assisting them setting up of micro enterprises.
2. This scheme was launched in 2008 by merging the two existing scheme namely Prime minister's Rojgar yojna (PMRY) and Rural Employment Generation Programme ( REGP).
3. It is a Central sector scheme administered by ministry of micro and small enterprises (MoMSME)

Implementation:-

1. At National level scheme will be implemented by Khadi and village Industries Commission (KVIC).
2. At state level it would be implemented through State Khadi and Village Industries corporation (KVIC), state Khadi and Village Industries Boards (KVIBs), District Industries Centers ( DICs) and Banks.

Objectives of the Programme:-

• To promote and generate self employment opportunities in rural as well as urban areas through setting up of new projects/micro enterprises. 
• It's objective is to promote MSME sector.
• To increase the earning capacity of small enterprises,artisans and contribute to increase in growth rate of rural and urban employment.
• To provide sustainable and continuous employment to the unemployed youth,so as to mitigate migration of rural youth to urban areas.

Levels of Assistance by Government:-

• Credit subsidy upto 35% by Government of India under Ministry of MSME.
• For Loan upto Rs 50 lakh for Manufacturing sector and Rs 20 lakh for service sector.

Eligibility for PMEGP :-

• Any Individual, above 18 years of age.
•  Production cooperative societies
• Self help Groups ( SHGs)
• Institutions registered under Societies Registration Act 1860
• Charitable trust 
• Only new projects would be considered for assistance under the scheme of PMEGP.
• If project costing is above Rs 10 lakh in Manufacturing sector and above Rs 5 lakh in Service/ Business sector then beneficiary should posses 8th standard educational qualification.

Existing units or the Institution/Units that have already availed Government subsidy under any other scheme of central Govt or State Govt. are not eligible.

Some facts :-

 Since it's inception in 2008-09 around 7.8 lakh Micro enterprises have been assisted with a subsidy of Rs 19,995crore that is generating sustainable employment for 64 lakh crore persons.

FAQs:-

Q What is the full form of MSME?

Ans. Micro,Small and Medium Enterprises.

Q. Who is the MINISTER of MSME ?

Ans. Narayan Rane .