Prime Minister’s Employment Generation Program (PMEGP) Loan Yojana 2022 || The Honorable Prime Minister of our nation, Shri Narendra Modi ji, has launched a new initiative. The Prime Minister Employment Generation Program is the moniker of this initiative (PMEGP). The working youth will receive financial help in the amount specified under this. In this post, please share the advantages of the PMEGP Loan Yojana. Read this post through to the end to learn more in-depth.
This program’s primary goal is to encourage entrepreneurship and give young people who aspire to work for themselves possibilities in both rural and urban areas of the nation. The Government of India will give financial support under this initiative to young people in the nation who want to work.
Benefits of the PM Rojgar Yojana 2022
- Funding will be made available under this program to launch new microindustries.
- The maximum project cost is Rs. 10 lakh for services and Rs. 25 lakh for the industrial sector.
- Subsidy: 15%–35% of the total project expense • The beneficiary’s share in the project, from 5% to 10%
Financial support for the second time under PMEGP / MUDRA / REGP for unit expansion and upgrade to high-performing units
15% to 20% subsidy, up to Rs 1 crore for the manufacturing sector and up to Rs 25 lakh for the service sector
PM Rojgar Yojana Eligibility for 2024
The following qualify for PMEGP Loan Yojana applications:
Requirements: • The beneficiary must be older than eighteen.
Groups for Self-Help (SHGs)
The minimum educational requirement for projects costing Rs. 10 lakh in the manufacturing sector and Rs. 5 lakh in the service sector is an eighth-grade pass.
Important Information: Only the absolutely free online application for loan assistance under the program using the aforementioned URL is accepted. Khadi and Village Industries Commission is the National Nodal Agency of the PMEGP Yojana. There are just 3 implementing agencies for the plan.
Village Industries Commission and Khadi
The only entities permitted to handle scheme applications are Khadi and Village Industries Board, the Industries Department, and the District Industry Center of the relevant district. All other associations, organizations, institutions, individuals, companies, forms, etc.
PM Rojgar Yojana 2024 Program for the Development of Entrepreneurship
What is the main objective of PMEGP Loan Yojana 2024?
The main objective of this scheme is to provide self-employment opportunities to aspiring youth in rural and urban areas across the country by promoting entrepreneurship. Under this scheme, financial assistance will be provided by the Government of India to the youth of the country for employment.