Prime Minister’s Employment Generation Programme
PMEGP (Prime Minister’s Employment Generation Programme) was announced on August 15, 2008. It was launched in the place of REGP scheme. It is a credit-linked subsidy programme which was launched by the Ministry of MSME in 2008-09. The reason why this programme started was with the sole intention of creating employment in rural, as well as urban areas of the country.
Objectives of the scheme
- To generate employment opportunities in rural as-well-as in urban areas. This will be done by establishing new self-employment ventures, project and micro enterprises.
- Another objective to start this scheme was to bring together the widely dispersed traditional artisans/ rural and urban unemployed youth and give them self-employment opportunities.
- The scheme also aims to provide continuous and sustainable employment to a large section of the prospective artisans and rural and urban unemployed youth. This will be done in order to control the migration of the rural youth into urban areas.
- The scheme again aims to increase the wage earning capacity of artisans and contribute to increase in the growth rate of urban employment.
Eligibility Conditions of beneficiaries
- Any individual who is above the age of 18 years.
- No income ceiling for assistance for setting up projects under PMEGP
- For setting up of a project costing which is above 10 lakh in the manufacturing sector and 5 lakh in the business/service sector, the beneficiaries should possess at least class 8 pass educational qualification.
- Assistance under the scheme which is available only for new projects which have been sanctioned specifically under the PMEGP
- Self Help Groups (including those that belong to the BPL, provided that they have not availed benefits under any other scheme) are also eligible for the scheme.
- Existing units (under PMRY, REGP or any other scheme of Government of India or the state government) and the units that have already availed government subsidy under any other scheme of the Government of India or the State Government or not eligible.
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