How is Youth from Dhamtari Shaping His Future with PMEGP?
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Synopsis
Discover how a young man from Dhamtari is transforming his life through the Prime Minister’s Employment Generation Programme, a scheme designed to empower youth to become self-reliant and economically independent. Learn about the impact of this initiative on local entrepreneurship.
Key Takeaways
- PMEGP empowers youth to become self-reliant.
- Loans of up to Rs 10 lakh are available for starting businesses.
- Subsidies can reach up to 40%, easing the financial burden.
- Success stories like Shakir Khan inspire others.
- The initiative aims to create millions of jobs through micro-enterprises.
Dhamtari, Oct 16 (NationPress) With Prime Minister Narendra Modi envisioning a nation where every youth is economically empowered and self-sufficient, the Central government is actively rolling out the Prime Minister’s Employment Generation Programme (PMEGP).
Through this initiative, loans are being offered to set up small and micro enterprises, accompanied by significant government subsidies. This program is providing youth with improved avenues to launch their own businesses, allowing them not just to achieve independence but also to create job opportunities for others.
A remarkable success story is emerging from Dhamtari district in Chhattisgarh, where a young individual is crafting his future by fully leveraging this scheme. In an era where unemployment poses a grave challenge for the nation, and many young individuals are fixated on securing government jobs, PM Modi’s PMEGP is presenting an alternative route, empowering youth to initiate their own enterprises.
Under the PMEGP, the government supports loans of up to Rs 10 lakh for establishing industries, providing a subsidy of up to 40%.
Shakir Khan, a local resident, has benefited from this scheme and has opened a small restaurant using a Rs 10 lakh loan under PMEGP. Today, he is not only supporting his family but also generating a substantial income. He expressed his appreciation, thanking Prime Minister Modi for introducing a scheme that has enabled him to attain self-sufficiency.
Launched in August 2008, the PMEGP is a credit-linked subsidy initiative overseen by the Ministry of Micro, Small and Medium Enterprises (MSME). The objective of this scheme is to create employment opportunities by facilitating the establishment of micro-enterprises in both rural and urban non-farm sectors.
The scheme has been authorized for continuation through the 15th Finance Commission cycle, spanning five years from 2021–22 to 2025–26. PMEGP was created by amalgamating two prior schemes—the Prime Minister’s Rozgar Yojana (PMRY) and the Rural Employment Generation Programme (REGP), both of which were operational until March 31, 2008.
An allocation of Rs 13,554.42 crore has been approved for PMEGP over these five financial years to facilitate the establishment of approximately 400,000 projects and the generation of 3,000,000 jobs, averaging eight individuals employed per unit. Additionally, 1,000 existing units will be upgraded each financial year.
Point of View
It is imperative to recognize the significance of initiatives like the PMEGP in fostering economic growth and self-sufficiency among youth in India. This program not only addresses unemployment but also encourages entrepreneurship, paving the way for a more resilient economy.
NationPress
16/10/2025
Frequently Asked Questions
What is PMEGP?
The Prime Minister’s Employment Generation Programme (PMEGP) is a credit-linked subsidy scheme launched to promote self-employment by providing loans and subsidies for micro and small enterprises.
How much loan can one get under PMEGP?
Under PMEGP, individuals can avail loans up to Rs 10 lakh to establish their businesses, along with a government subsidy of up to 40%.
Who can apply for PMEGP?
Any resident of India, particularly youth looking to start their own business, can apply for PMEGP loans and subsidies.
What is the eligibility criteria for PMEGP?
Eligibility criteria include age, educational qualifications, and the type of business one wishes to start. Specific guidelines are provided by the Ministry of MSME.
Is PMEGP still active?
Yes, PMEGP has been approved for continuation during the 15th Finance Commission cycle from 2021–22 to 2025–26.
