PMEGP Scheme: If you are also tired of going to the office daily and want to do something new. So you should turn this opportunity into a business. Today, we are giving you information about such a government scheme. Through which you can easily get a loan of 5 lakh to 10 lakh rupees. This scheme of the government is the Prime Minister’s Employment Generation Programme (PMEGP). In which Loans are easily available for creating a new business.

Starting any business often requires large capital, especially for young people who want to do employment work. Therefore, the government is running the Prime Minister Employment Generation Program (PMEGP) here. Under the scheme, unemployed youth and traditional artisans are provided loans with low terms and concessional rates.

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Know what is PMEGP Scheme is?

PMEGP is a loan-based subsidy scheme of the Central Government. This is being operated to create self-employment opportunities in rural and urban India. So that micro enterprises get support, and the problem of employment in the country is solved. According to the rules made in the scheme, loans of up to ₹ 25 lakh are available for manufacturing projects and loans of up to ₹ 10 lakh for service/business projects.

The government has made a provision to give a subsidy, due to which up to 35% is available in rural areas and up to 25% in urban areas. The applicant is getting an easy and low interest rate. You will get the loan from the nearest bank.

PMEGP Scheme Eligibility

  • The age for applying in PMEGP should be more than 18 years.
  • For a loan application, a minimum eighth class should be passed.
  • The applicant should not have already availed the benefit of any government schemes.
  • The family income should be less than ₹ 40,000 per year in rural areas and less than ₹ 50,000 per year in urban areas.

PMEGP Scheme Documents

  • Aadhaar card
  • PAN card
  • Caste certificate
  • Project report
  • Education/EDP/Skill Development training certificate.

Application in the PMEGP Scheme

If anyone wants to take advantage of the PMEGP application, this process has to be followed.

  • First of all, go to the PMEGP e-portal at kviconline.gov.in.
  • Now register here. You will get an ID and a password.
  • Login with ID and password.
  • Fill out the application with your information.
  • In which personal, educational and business details.
  • Now you have to upload the necessary certificates, project reports and photos.
  • Check the application once and submit it, and you will get a printout.

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After you complete this process, the government officials will check the application. If your application is found correct, then you will get a loan for business.