Prime Ministers Employment Generation Program (PMEGP) - Get business & Product Information
Prime Ministers Employment Generation Program (PMEGP)
Provides financial assistance to set up new enterprises
PMEGP is a central sector scheme being administered by the Ministry of Micro, Small and Medium Enterprises (MoMSME). The scheme is implemented by Khadi and Village Industries Commission (KVIC) functioning as the nodal agency at the national level. At the state level, the scheme is implemented through State KVIC Directorates, State Khadi and Village Industries Boards (KVIBs), District Industries Centres (DICs) and banks. In such cases KVIC routes government subsidy through designated banks for eventual disbursal to the beneficiaries / entrepreneurs directly into their bank accounts
Features
Nature of Assistance
- The maximum cost of the project/unit admissible in manufacturing sector is ₹ 25 lakhs and in the business/service sector, it is ₹ 10 lakhs
For setting up of new micro enterprise (units)
Beneficiary category under PMEGP(setting up of new units) | Beneficiary’s own contribution | Subsidy Rate ( of project cost ) | |
---|---|---|---|
Area ( location of the project ) | Urban | Rural | |
General Category | 10% | 15% | 25% |
Special category (SC/ST/OBC/Minorities/Women/Ex-servicemen/physically handicapped/NER/Hill & Border areas ) | 05% | 25% | 35% |
For 2nd loan for upgradation of existing PMEGP/MUDRA units
Categories of beneficiaries under PMEGP ( for upgradation of existing units ) | Beneficiary’s own contribution ( of the project cost ) | Rate of subsidy ( of the project cost ) |
---|---|---|
All | 10% | 15% ( 20% in NER and Hill States ) |
The balance amount of the total project cost will be provided by the banks in the form of term loan and working capital.
Eligibility
- Any individual, above 18 years of age
- At least VIII standard pass for projects costing above Rs.10 lakh in the manufacturing sector
- Above Rs. 5 lakh in the business / service sector.
- Only new projects are considered for sanction under PMEGP.
- Self Help Groups (including those belonging to BPL provided that they have not availed benefits under any other Scheme), Institutions registered under Societies Registration Act, 1860, Production Co-operative Societies, and Charitable Trusts are also eligible
- Existing Units (under PMRY, REGP or any other scheme of Government of India or State Government) and the units that have already availed Government Subsidy under any other scheme of Government of India or State Government are NOT eligible
How to Apply
- The beneficiaries can submit their application online at https://www.kviconline.gov.in/pmegpeportal/pmegphome/index.jsp and take the printout of the application and submit the same to respective offices along with Detailed Project Report and other required documents.
- The State/Divisional Directors of KVIC in consultation with KVIB and Director of Industries of respective states (for DICs) will give advertisements locally through print & electronic media inviting applications along with project proposals from prospective beneficiaries desirous of establishing the enterprise/ starting of service units under PMEGP.
Last Updated On : Wednesday, 11-11-2020
Interest Rates
2.70% p.a.
less than Rs.10 Cr. w.e.f 15.10.22
3.00% p.a.
Rs.10 Cr. and above w.e.f 15.10.22
2.70% p.a.
Balance below Rs. 10 crs
3.00% p.a.
Balance Rs. 10 crores and above
Business-products-landing
Prime Ministers Employment Generation Program (PMEGP)
Criteria
- Features
- Eligibility
- Terms and Conditions
Interest Rates
2.70% p.a.
less than Rs.10 Cr. w.e.f 15.10.22
3.00% p.a.
Rs.10 Cr. and above w.e.f 15.10.22
2.70% p.a.
Balance below Rs. 10 crs
3.00% p.a.
Balance Rs. 10 crores and above