Prime Minister’s Employment Generation Programme (PMEGP)
PMEGP is a self-employment scheme of the Government of India, and is being implemented through the DICs, since 2008-09.
Objective
To promote entrepreneurship and facilitate self-employment opportunities across various sectors, thereby fostering economic growth and job creation.
Key Benefits
- PMEGP provides loans up to Rs.50 lakhs for manufacturing and Rs.20 lakhs for service activities, aiding entrepreneurs in venture establishment.
- For projects in urban areas, the rate of subsidy is 15% for General category and 25% for Special Category (SC/ ST/ OBC/ Minorities/ Women, Ex-Servicemen) beneficiaries.
- For projects in rural areas, the rate of subsidy is 25% for General category and 35% for Special Category beneficiaries.
- Financial institutions provide remaining project costs as term loans, ensuring comprehensive funding.
Snapshots
10 lakhs - 5 crore
Project cost
50 lakhs
Loan limit for manufacturing
20 lakhs
Loan limit for services
15% to 35%
Subsidy %
Eligibility Criteria
- Applicant should be minimum 21 years of age.
- For General category: maximum 35 years of age.
- For Special category (SC/ ST/ MBC/ BC/ minorities/ ex-servicemen/ differently-abled/ transgender person): maximum 45 years of age.
- The applicant should be a first generation entrepreneur.
- Posses a minimum 12th standard or diploma or Industrial Training Institutes (ITI) or vocational training from a recognised institution.
- A resident of Tamil Nadu for not less than 3 years.
- The applicant should be a resident of Tamil Nadu for not less than 3 years.
- The applicant should have completed minimum 12th standard/ diploma/ ITI/ vocational training from a recognized institution.
- Project cost should be above INR 10 lakh, and below INR 5 crore.
- The applicant's contribution should be 10% of project cost for General category; and 5% for Special category.
- The maximum age limit is 35 years for General Category and 45 years for Special Category (SC/ST/MBC/ BC/ minorities/ ex-servicemen/ differently-abled/ Transgender person).
Other Schemes
