- OBJECTIVE
- The scheme aims at providing financial assistance to self-employment ventures, in order to generate sustainable employment opportunities for unemployed youth and traditional artisans in rural and urban areas.
- KEY BENEFITS
- Bank-financed subsidy program for setting up new micro-enterprise in non-farm sector.
- 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.
- For special category beneficiaries such as SC/ST/Ex-Servicemen/NER/Women/PH/Minorities, the money subsidy margin is 25% in urban areas and 35% in rural areas.
- SCHEME APPLICABLE FOR
- Individuals above the age of 18 can apply for this scheme.
- Other beneficiaries can be Institutions registered under Societies, Self Help Groups, Charitable Trusts and Production Co-operative Societies.
- DETAILED INFORMATION
- The own contribution for beneficiary belonging to the general category is 10% of the project cost and 5% of the project cost in cases of special category.
- Upon the approval of the loan, banks sanction and release the amount of 90% – 95% of the total project cost, allowing the beneficiaries to set up units for operations.
- Support events like EDP training, awareness camps, etc are held to provide Backward & Forward Linkages, in order to attain sustainability of the projects under the scheme.
- Government of India has facilitated online processing of applications and allocation of Margin Money directly by the financing branches.
- The e-portal’s online one-page application form is fixed requirement for institutional as well as individuals. The PMEGP MIS portal and the application form are mobile friendly, allowing e-mail/SMS notifications to the applicant at each stage of the application process.
- PMEGP e-portal also displays model projects of various KVI activities.
- PMEGP e-portal is also linked to with the Model Village Industries projects by the NSIC.
- For the increase and ease in registrations of the MSMEs, the Government of India has recommended PMEGP to adopt the Udyog Aadhar Memorandum (UAM) for online registrations.
HOW TO APPLY
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- DOWNLOADPMEGP Scheme
