Port Blair, Aug 27: The Government of India has been implementing a scheme called Prime Minister’s Employment Generation Programme (PMEGP) with the objectives to generate employment opportunities in rural as well as urban areas through setting up of new self-employment ventures / projects / micro enterprises. Besides, the objective is also to bring together widely dispersed traditional artisans/rural and urban unemployed youth and give them self-employment opportunities to the extent possible, at their place.
Any individual above 18 years of age is eligible under the scheme; there will be no income ceiling for assistance for setting up projects under PMEGP.
Considering the success of the Scheme, an additional component namely Expanding/Upgrading the existing unit set up under PMEGP/REGP/ PMRY/MUDRA has been added, wherein the units already setup under PMEGP/ REGP/PMRY/MUDRA and performing very well in terms of turnover, profit making are eligible for availing further financial assistance up to Rs.1.00 crore for Manufacturing units and Rs. 25 lakhs for Service/trading activities. The financial assistance will be provided through Banks with a uniform subsidy of 15% by the Government for all categories of beneficiaries. Beneficiaries self contribution will be 10% of the proposed expansion and upgradation project cost.
The objectives of the provision of 2nd Loan under PMEGP Scheme is to fulfill the need of additional financial assistance for upgrading and expansion to the successful / well performing units. The purpose is to cater to the need of the entrepreneurs for bringing new technology / automation, so as to modernize the existing unit and to enhance the productivity of the existing unit with the inclusion of the additional dose of funding and assuring additional wage employment.
All the existing units assisted under PMEGP/REGP/PMRY/MUDRA scheme are eligible for availing the 2nd loan under PMEGP to upgrade their units. The aspiring units are required to submit online applications in the PMEGP Portal at www.kviconline.gov.in along with the necessary documents.
For further details, one may contact the District Industries Centre or KVIB, Middle Point, Port Blair or over phone no 232601/233301.
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