Tarun Karthick
Port Blair, 27 August 2024
In a significant move to boost employment and entrepreneurship across India, the Government has expanded its Prime Minister’s Employment Generation Programme (PMEGP). The scheme, which aims to create self-employment opportunities in both rural and urban areas, has been instrumental in helping individuals set up new ventures and micro-enterprises.
Under the PMEGP, individuals aged 18 and above are eligible to apply for assistance, with no income ceiling limiting access to the scheme. This inclusive approach has made it easier for people from diverse backgrounds, including traditional artisans and unemployed youth, to embark on self-employment ventures close to their homes.
Building on the scheme’s success, the Government has introduced a new component designed to expand or upgrade existing units set up under PMEGP, REGP, PMRY, or MUDRA. Units that have demonstrated strong performance in terms of turnover and profitability are now eligible for additional financial assistance. Manufacturing units can receive up to ₹1 crore, while service and trading activities can access up to ₹25 lakhs.
The financial assistance will be disbursed through banks, with a uniform subsidy of 15% provided by the Government for all categories of beneficiaries. Additionally, beneficiaries are required to contribute 10% of the proposed expansion or upgradation project cost.
The primary objective of offering a second loan under the PMEGP scheme is to support the successful units in modernising their operations through the adoption of new technology or automation. This modernisation is expected to enhance productivity and create additional wage employment, further strengthening the entrepreneurial ecosystem.
Existing units that have been previously assisted under the PMEGP, REGP, PMRY, or MUDRA schemes are eligible to apply for this second loan. Interested units must submit their applications online via the PMEGP portal at www.kviconline.gov.in, accompanied by the necessary documentation.
For more information, individuals can contact the District Industries Centre or the Khadi and Village Industries Board (KVIB) at Middle Point, Port Blair. Alternatively, they can reach out via phone at 232601 or 233301.