PMEGP Scheme- The central government has started many schemes for the citizens of the country. One of these important schemes of the government is also the Prime Minister Employment Program (PMEGP). Through this scheme, the government provides financial assistance to unemployed youth and poor people. Under this scheme, the central government is providing loans ranging from Rs 1 lakh to Rs 50 lakh, which also includes a discount of up to 35%. Let’s know…

 

How much assistance is available?

Under the PMEGP scheme, people who want to start a new business can get a loan of up to Rs 50 lakh. Business units providing services will be given a grant of up to Rs 20 lakh. For the general category, 10% investment is sufficient, while for women, scheduled castes (SC), scheduled tribes (ST), backward classes (BC) and persons with disabilities, it is 5%. Businesses set up in rural areas will get a subsidy of up to 35%, while in urban areas this discount is 25% .

Eligibility to apply for PMEGP Scheme – New Enterprises (Units)

– Any person above 18 years of age can apply.

– There will be no income limit for assistance in setting up projects under PMEGP.

– For setting up projects costing more than Rs 10 lakh in manufacturing sector and Rs 5,00,000 in business/service sector, beneficiaries should have at least 8th standard pass educational qualification.

– Assistance under this scheme is available only for new projects sanctioned under PMEGP.

– Existing units (under PMRY, REGP or any other scheme of Government of India or State Government) and those units which have already availed government subsidy under any other scheme of Government of India or State Government are not eligible.

 

What documents will be required to apply for PMMY scheme?

– Caste Certificate

– Rural Area Certificate

– Project Report

– Education / EDP / Skill Development Training Certificate

– Any other document required.

 

How to apply for PMEGP scheme?

 

– First of all go to the official website http://www.kviconline.gov.in

– Click on the “Apply” button under the “Application For New Unit” tab.

– Here you enter all the information asked and click on ‘Save Applicant Data’.

– Upload the required documents on the next page and proceed for final submission.