Business & Economy

Cabinet approves continuation of Prime Minister's Employment Generation Programme (PMEGP)

NetIndian News Network

New Delhi, February 28, 2018

The Cabinet Committee on Economic Affairs (CCEA) today approved the continuation of Prime Minister's Employment Generation Programme (PMEGP) beyond 12th Plan for three years from 2017-18 to 2019-20 with a total outlay of Rs. 5,500 crore.
The scheme will create sustainable estimated employment opportunities for 15 lakh persons in three financial years, an official press release said.
The Khadi and Village Industries Commission (KVIC) is the nodal implementation agency at the national level. At the State/district level, State offices of KVIC, Khadi and Village Industries Boards (KVIBs) and District Industry Centres (DIC) are the implementing agencies. Applications are invited and processed online on PMEGP-e-portal.
The targets are fixed to take into account the extent of backwardness of State; the extent of unemployment; the extent of fulfilment of previous year targets; the population of State/Union Territory and availability of traditional skills and raw material, the release said.
A minimum target of 75 project/district is awarded to all districts of the country to achieve Inclusive Growth. The higher rate of subsidy (25% to 35%) will be applicable for women, SC/ST, OBC, Physically Disabled, NER applicants in rural areas.
The entire process of application flow and fund flow right from receipt of the application, processing, sanction by banks, transfer of margin money subsidy till the creation of Term Deposit Receipt (TDR) in the name of the applicant has been made online. The portal can be accessed at ttps://www.kviconline.gov.in/pmegpeportal/prneqphome/index.jsp.
PMEGP is a major credit-linked subsidy programme being implemented by the Ministry of MSME since 2008-09. The scheme is aimed at generating self-employment opportunities through establishment of micro-enterprises in the non-farm sector by helping traditional artisans and unemployed youth in rural as well as urban areas.
A total of 4.55 lakh micro enterprises have been assisted with a margin money subsidy of Rs. 9564.02 crore providing employment to an estimated 37.98 lakh persons from inception till 31.01.2018, the release added.
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