Know the PMEGP Guidelines in easy language .
(प्रधानमंत्री रोजगार योजना)
TOPICS WHICH ARE INSIDE THE ARTICLE ARE MENTION HERE .
Role / Objective / Key Features / Target group / Reservation / Execution process / How to benefit from the scheme / Rate of interest / maximum amount of loan
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| PMEGP |
PMEGP ROLE
To provide self-employment to the educated unemployed, the Prime Minister's scheme has been started by the Government of India from 2 October 1993. Under this scheme, unemployed youth / youth can be given the opportunity of self-employment by providing loans from banks.
Objective / Key Features
The main feature of this scheme is that it inspires educated unemployed youth / women of the city or village to start their own business. The rate of interest is very low and it is allowed to repay the loan for 7 years by dividing the loan in easy installments.
Mortgage of any other type of loan is not taken in the loan, only the item manufactured from the loan is considered as mortgage property.
Target group
All young men / women who are not working, whose age is between 18 years to 35 years; Whose family income is Rs. 24000. Is less than and who must have passed at least matriculation.
ITI in addition to matriculation pass Passed youth / young people and all those who have received training in government sponsored (at least 6 months duration) technical course.
RESERVATION
Schedule Caste and Schedule Tribe - 22.5 percent
Other Backward Class - 27 percent
EXECUTION PROCESS
Applications are invited in the prescribed form by District Industries Center.
All the youths / youth are interviewed and necessary documents are checked for identification / selection of beneficiaries by the district level or sub-committee formed for the purpose of implementation of the scheme.
The beneficiaries are selected and their applications are sent to the banks by the committee for evaluation and approval.
The banks themselves take their commercial decisions, believing the scheme's eligibility and potential.
Capital is provided in the form of loan by the bank to the selected beneficiaries. Only 15 percent of the loan amount or maximum of Rs 7500 / - is given in cash. Also, 5% of cool project cost is Rs. The beneficiary has to be attached to his level.
The committee reviews the progress of the industries run by the selected beneficiaries.
Repayment of loan is waived for 6-8 months, but later the loan has to be paid within 3 to 7 years in easy installments with interest.
HOW TO BENEFIT FROM THE SCHEME
Youths / youths desirous of availing benefits from the Prime Minister's Employment Scheme should go to the District Industries Center and get detailed information about the scheme and apply the prescribed form from there.
A clear project should be prepared for the employment for which the loan is to be obtained so that it can be utilized to the maximum in the future if the loan is received. Even at the time of the interview, the interviewing officer tries to check to what extent the young man / woman sitting in front is determined to do self-employment. In such a situation, a project made for self-employment is very helpful.
Applicant must attach residential, income and caste certificate with his application. Applications are not considered in the absence of these certificates.
GOVERNMENT GRANTS
In the case of each applicant by the Central Government through the Reserve Bank of India, equal to 15 percent of the project cost but a maximum of Rs 7500. The amount of the grant up to Rs.500 / - is maintained by the concerned bank in the name of the borrower with a fixed deposit receipt. Its duration is minimum 3 years.
RATE OF INTEREST
Under this scheme, interest is charged as per the instructions issued from time to time by the Reserve Bank of India. At present the interest rate up to Rs 25000 is 12.5 per cent and Rs 25000. 1 lakh to Rs. The rate of interest on loans up to 15.5 percent.
MAXIMUM AMOUNT OF LOAN
Under Pradhan Mantri Rojgar Yojana, loans up to a maximum of two lakh rupees are given.
If five applicants form a group and apply for a truck or bus, then loans up to one million can be given.
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