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Centre Approves PM's Employment Generation Scheme Until 2026 At Rs 13,554 Crores
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India, 31 May 2022 7:46 AM GMT
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Creatives : Ratika Rana
Her primary objective is to inform, promote, educate and cultivate readers through writing.
The Union government has increased the maximum project cost from existing ₹25 lakh to ₹50 lakh for manufacturing units and from existing ₹10 lakh to ₹20 lakh for service units.
The union government has approved the extension of the Prime Minister's Employment Generation Programme (PMEGP) for the next five years, ending the financial year 2026. However, the extension comes with a few changes in the current scheme. The government has now planned to increase the maximum project cost from ₹25 lakhs to ₹50 lakhs for all manufacturing units and from ₹10 lakhs to ₹20 lakhs for service units. The government has also revised the definition of village industry and rural areas. All the enterprises coming under Panchayati Raj institutions would account for rural areas, and those under municipality would be for urban areas.
25% Subsidy In Urban Areas, 35% In Rural Areas
PMEGP applicants from the transgender community and those belonging to aspirational districts would be considered special categories. Moreover, the press note mentioned, "All implementing agencies are allowed to receive and process applications in all areas irrespective of the rural or urban category", LiveMint reported. The margin subsidy under the scheme would be 25 per cent for those in urban areas and 35 per cent for those in rural areas or those belonging to special category applicants, including SC, ST, OBC, women, transgender, physically disabled, north-eastern region, aspirational and border district applicants.
Over 7 Lakh Micro Enterprises Benefitted
The Union Ministry of Micro, Small and Medium Enterprises mentioned that, in the next five years, the scheme would create over 40 lakh jobs. Since the scheme's inception in 2008-09, the central government has benefitted about 7 lakh micro enterprises have been assisted with a subsidy of ₹19,995 crores, generating estimated sustainable employment for 64 lakh persons.
While over 80 per cent of the above units are in rural areas, SC, ST communities and women own 50 per cent of the units, the government data revealed.
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