Through a credit-linked programme
MADURAI: Implementation of the Ministry of Micro, Small and Medium Enterprises’ new credit-linked subsidy programme — Prime Minister’s Employment Generation Programme (PMEGP) —has begun in Madurai.
The programme is being implemented through Khadi and Village Industries Commission (KVIC), Khadi and Village Industries Board (KVIB) and District Industries Centre (DIC).
Through the programme, which comes after the government scrapped Pradhan Mantri Rozgar Yojna (PMRY) and Rural Employment Generation Programme (REGP), it is envisaged to generate employment opportunities by encouraging entrepreneurial activity.
Manufacturing, servicing, and trade/business can be started by availing financial assistance through nationalised banks, cooperative banks, and private sector scheduled commercial banks, according to an official press release.
Under the PMEGP, the maximum limit has been set at Rs. 25 lakh for manufacturing sector and Rs. 10 lakh for the services sector. Activities in the negative list under this scheme include meat processing items, liquor shop, tobacco production, cultivation of crops, animal husbandry, rural transport and hand weavers.
The target for Madurai district is: disbursing margin money of Rs. 24.46 lakh, employing 204 persons in urban areas. For the rural areas, target for margin money is Rs. 25.45 lakh, employing 212 persons.
Those who want to join the scheme can contact the District Collector, General Manager/Joint Director, DIC, and other nationalised banks, the release added.