The Prime Minister’s Employment Generation Programme (PMEGP) is a credit-linked subsidy program run by the Ministry of MSME. It aims to generate self-employment opportunities by providing financial support to start new micro-enterprises.
Eligibility:
- Any Indian citizen above 18 years of age
- Minimum 8th pass required for manufacturing units
- Only new projects are eligible
Loan Amount:
- Manufacturing: Up to Rs. 25 lakh
- Service Sector: Up to Rs. 10 lakh
Subsidy:
- General Category: 15% – 25%
- Special Category (SC/ST/OBC/Women/NE region): 25% – 35%
Application Process:
- Apply online through www.kviconline.gov.in
- Upload documents: Aadhaar, PAN, project report, education proof
- Banks process loan and subsidy
Benefits:
- Capital subsidy makes business initiation easier
- No collateral required for loans up to Rs. 10 lakh
- Encourages employment in rural and urban areas