PMEGP Loans

The Prime Minister's Employment Generation Programme (PMEGP) in India is a flagship initiative aimed at promoting entrepreneurship and generating employment opportunities. Administered by the Ministry of Micro, Small and Medium Enterprises, PMEGP provides financial assistance to individuals, including rural and urban youth, to establish micro-enterprises. The program encourages self-employment through the establishment of small businesses in manufacturing, service, and trade sectors.

PMEGP offers financial support in the form of a composite loan, comprising both the capital cost of the project and working capital. The loans are extended through various financial institutions, including banks and designated agencies at subsidized interest rates. Beneficiaries can receive assistance for projects ranging from traditional crafts to modern industries.

The scheme aims to create sustainable employment and promote inclusive growth by fostering entrepreneurship. With its focus on skill development and job creation, PMEGP plays a crucial role in nurturing a culture of self-reliance and economic empowerment, particularly among the country's aspiring entrepreneurs.