Since its inception, around 7.8 lakh micro enterprises have been assisted with a subsidy of Rs19,995 crore, generating sustainable employment for an estimated 64 lakh persons.
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The maximum fund provided for manufacturing units is Rs50 lakh while for service units it is Rs20 lakh.
According to this scheme, the business owner needs to contribute 5-10% of the project cost, while the government will cover 15-35%, depending on various conditions. The partnering banks provide applicants with term loans at competitive interest rates for the remainder of the project cost. Collateral is not required for projects costing up to Rs20 lakh under the PMEGP scheme. The Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) provides a collateral guarantee for the project beyond Rs5 lakh and up to Rs50 lakh under the PMEGP scheme.
Project list of businesses that come under PMEGP
This story is from the November 28, 2022 edition of The Free Press Journal.
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This story is from the November 28, 2022 edition of The Free Press Journal.
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