PM Employment Generation Programme extended for 5 yrs till 2025-26

PM’s Employment Generation Programme extended for 5 yrs till 2025-26

The Prime Minister’s Employment Generation Program (PMEGP) has been approved to continue till the financial year 2025-26.

  • The Ministry of Micro, Small and Medium Enterprises (MSME) has approved continuation of the Prime Minister’s Employment Generation Program (PMEGP) for the next five years. This period will be from the year 2021-22 to the year 2025-26.
  • The outlay amount for the program will be Rs 13554.42 crore. This scheme will create permanent employment opportunities for about 40 lakh persons in five financial years.

Key amendments to the existing scheme:

  • The maximum project cost for manufacturing units has been increased from Rs 25 lakh to Rs 50
  • The maximum project cost for service units has been increased from Rs 10 lakh to Rs 20 The definitions of village industries and rural areas have been revised.
  • The areas under Panchayati Raj Institutions have been kept under rural areas. At the same time, the areas under the municipality will be considered as urban areas.
  • All implementing agencies have been permitted to receive and dispose of applications, whether they are from rural category or urban category.
  • PMEGP applicants from aspirational districts and transgender category will be treated as special category applicants. These will be eligible for higher subsidy.
  • PMEGP was launched in the year It was launched by merging the Pradhan Mantri Rojgar Yojana (PMRY) and Rural Employment Generation Program (REGP).
  • It is a credit linked subsidy program and a central sector scheme. It is administered by the Ministry of MSME. It facilitates the creation of employment opportunities for youth through setting up of micro enterprises in rural and urban areas. It has been implemented at the national level by the Khadi and Village Industries Commission (KVIC).

Subsidy given under PMEGP –

  • For special category i.e. SC, ST, OBC, Women, Transgender etc., 25 percent of the project cost in urban area and 35 percent in rural area.
  • For the general category, it is 15 per cent of the project cost in urban areas and 25 per cent in rural areas.

Source – The Hindu

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