Prime Minister's Employment Generation Programme is a flagship program launched by the Government of India to promote self-employment and entrepreneurship among the youth and create sustainable employment opportunities in the country.
The PMEGP aims to provide financial assistance to individuals and groups who wish to start their own micro or small-scale enterprises. The program offers both financial and technical support to aspiring entrepreneurs.
The primary objective of PMEGP is to generate sustainable employment opportunities in rural and urban areas, reduce unemployment, and foster economic growth through entrepreneurship development.
PMEGP provides financial support in the form of loans to set up new micro or small-scale enterprises. The program offers subsidized bank loans, which helps reduce the financial burden of starting a business.
In addition to the loan, PMEGP provides a subsidy component to eligible beneficiaries. The subsidy amount varies depending on the category of the beneficiary (general or weaker sections) and the project cost.
PMEGP aims to generate sustainable employment opportunities in both rural and urban areas. By promoting entrepreneurship and supporting the establishment of new enterprises, the program helps create jobs and reduces unemployment.
