PMEGP: Women will also become self-reliant, will get 15 percent subsidy on loan for business

By Anupreet Kaur On Dec 17, 2020

new Delhi. Many people have become unemployed during the Corona period. In such a situation, the Prime Minister Employment Generation Program (PMEGP) is a beneficial scheme for those who want to start their own small business. In this, they are given a loan of up to Rs 25 lakh for doing business on behalf of the government. Not only this, there is also a subsidy of 15 to 25 percent from the government. This scheme is beneficial for unemployed youth, people living in rural areas and women. Through this scheme, women can earn good from home. So what is this plan and how can you take advantage of it, know the whole process.

Purpose of the scheme
The central government wants to develop a sense of self-employment among the youth through this scheme. Also, the objective of this scheme is to motivate people of rural areas, especially youth and women, to take up self-employment at home. This will help people living in towns, rural areas and small towns to live. This will increase their earnings. The scheme was launched in 2008 by the Commission for Rural Development and Village Industries. According to the government, in the last three years, about 11.13 lakh people have been provided employment under this scheme.

Who will get loan
1. The applicant must be at least 18 years old. Also he should have studied till 8th grade.
2. Loans will be available only on new projects started under this scheme.
3. Self help group ie those who are not getting help in any other scheme. Such people can apply.
4. Societies registered under Societies Act 1860

How to apply
To apply, first of all visit the official website of the scheme. Write the Aadhaar number in the first column here. Now fill in personal information like your name, caste, woman or man etc. Also you choose the state. After filling all the details, submit it. If you are a general caste applicant, then you will get 15 percent subsidy on loan amount and 25 percent subsidy for reserved caste applicants.