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30/05/2022 04:45pm

PMEGP modified and to be continued till FY 26 with outlay of Rs 13554 cr

image PMEGP modified and to be continued till FY 26 with outlay of Rs 13554 cr

New Delhi, May 30 (KNN) Some major modifications has been proposed for the Prime Minister’s Employment Generation Programme (PMEGP) implemented by the Ministry of MSME  and has been approved for continuation over the 15th Finance Commission Cycle for five years from 2021-22 to 2025-26 with an outlay of Rs.13554.42 crore.

The scheme facilitates generation of employment opportunities for unemployed youth across the country by assisting setting up of micro-enterprises in non-farm sector.

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The maximum project cost from existing Rs.25 lakh is increased to Rs. 50 lakh for manufacturing units and from existing Rs.10 lakh to Rs.20 lakh for service units.

It has also proposed modification in definition of village industry and Rural Area for PMEGP. Areas falling under Panchayti Raj institutions to be accounted under rural area, where as areas under Municipality to be treated as urban area, said the press release.

All implementing agencies are allowed to receive and process applications in all areas irrespective of the rural or urban category and PMEGP applicants under aspirational districts and transgender will be treated as special category applicants and entitled for higher subsidy, it said.

KVIC is national level nodal agency. At State/District level State office of KVIC, State KVIBs and DICs are the implementing agencies. Coir Board is the implementing Agency for the Coir Units.

Since its inception in 2008-09, about 7.8 lakh micro enterprises have been assisted with a subsidy of Rs 19,995 crore generating estimated sustainable employment for 64 lakh persons. 

About 80 per cent of the units assisted are in rural areas and about 50 per cent units are owned by SC, ST and women categories.  (KNN Bureau)

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