Over 2 million jobs created under PMEGP since 2008-09: MSME Ministry
Updated: Feb 03, 2014 11:36:41am
New Delhi, Feb 3 (KNN) The government today said it has released Rs 5,381.63 crore for the Employment Generation Programme (PMEGP) scheme which generated over 2 million jobs since 2008-09.
"More than 2 million persons have been provided employment under the PMEGP which is being implemented by the Ministry of Micro, Small and Medium Enterprises," an official statement said.
It added the government released Rs 5,381.63 crore under the scheme since 2008-09 and assisted more than 2.33 lakh projects. The allocation for 2013-14 (B.E.) is Rs 1,418.28 crore.
"For the country as a whole, the outlay for XII Five Year Plan under PMEGP has been kept at Rs 8,060 crore which is 70 per cent higher than the allocation of XI Plan for the scheme," it said.
The PMEGP is a credit-linked subsidy programme aimed at generating self-employment opportunities as well as wage employment through establishment of micro-enterprises in the non-farm sector.
Khadi Village Industries Commission (KVIC) is the nodal agency at national level to implement the scheme across the country.
Under the PMEGP, any project in the manufacturing sector costing up to Rs 25 lakh and in the service sector up to Rs 10 lakh is eligible for assistance. The assistance is in the form of margin money subsidy for mobilising bank credit.
PMEGP is a credit-linked subsidy programme launched by Ministry of MSME in 2008-09 for creation of employment in both rural and urban area of the country. (KNN/SD)
"More than 2 million persons have been provided employment under the PMEGP which is being implemented by the Ministry of Micro, Small and Medium Enterprises," an official statement said.
It added the government released Rs 5,381.63 crore under the scheme since 2008-09 and assisted more than 2.33 lakh projects. The allocation for 2013-14 (B.E.) is Rs 1,418.28 crore.
"For the country as a whole, the outlay for XII Five Year Plan under PMEGP has been kept at Rs 8,060 crore which is 70 per cent higher than the allocation of XI Plan for the scheme," it said.
The PMEGP is a credit-linked subsidy programme aimed at generating self-employment opportunities as well as wage employment through establishment of micro-enterprises in the non-farm sector.
Khadi Village Industries Commission (KVIC) is the nodal agency at national level to implement the scheme across the country.
Under the PMEGP, any project in the manufacturing sector costing up to Rs 25 lakh and in the service sector up to Rs 10 lakh is eligible for assistance. The assistance is in the form of margin money subsidy for mobilising bank credit.
PMEGP is a credit-linked subsidy programme launched by Ministry of MSME in 2008-09 for creation of employment in both rural and urban area of the country. (KNN/SD)
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