Features of PMEGP Loan Scheme:
The basis of the PMEGP scheme is the provision of subsidies for starting a micro-enterprise to make the project viable through the extension of credit in the form of a PMEGP loan. The various features marking this vital initiative are:
The primary objectives of PMEGP KVIC to combine its four-fold encompassing the following.
- To open up employment opportunities in the rural as well as urban areas by helping establish new micro-enterprise projects.
- By integrating the widely spread artisans and unemployed youth in the country into a combined effort towards self-employment avenues.
- Prevent the migration of rural youth to urban centers in search of sustainable employment by boosting traditional vocation throughout the year.
- To augment the income of traditional artisans in the rural area by providing means of self-employment.
What Does a PMEGP Loan Offer?
Under the PMEGP scheme, the PMEGP loan is a type of term loan offered by the government to entrepreneurs at a specific rate as well as subsidies on their overall project cost. The exact specifics of a PMEGP loan varies based on a number of factors. Here are some of the more important details about how much financial assistance a PMEGP loan offers:
Loan Amounts
Self Investment
Subsidy (Rural)
