How is PMEGP Empowering Neemuch Entrepreneurs to Become Self-Reliant and Job Creators?

Neemuch, June 10 (NationPress) The Prime Minister Employment Generation Programme (PMEGP) has become a transformative force for budding entrepreneurs nationwide, fostering self-sufficiency by offering financial aid in the form of loans and subsidies for establishing small and micro-scale enterprises.

This significant credit-linked subsidy initiative aims to create self-employment opportunities through the setup of micro-enterprises in the non-farm sector.

It is managed by the Khadi and Village Industries Commission (KVIC), which serves as the national nodal agency. At the state level, the initiative is carried out through State KVIC Directorates, State Khadi and Village Industries Boards (KVIBs), District Industries Centres (DICs), and partner banks.

A primary goal of Prime Minister Narendra Modi's flagship program is to empower individuals to attain financial independence, contributing to the vision of a Viksit Bharat by 2047.

In Madhya Pradesh's Neemuch district, many locals have shared their appreciation for the Prime Minister, attributing their newfound self-reliance and business growth to PMEGP.

Community members report that the scheme has not only uplifted individual entrepreneurs but also created jobs at the grassroots level.

Numerous youths in both urban and rural areas of Neemuch have leveraged the scheme to launch successful enterprises, thereby providing employment to others.

Under PMEGP, eligible applicants can secure loans of up to Rs 50 lakh for manufacturing ventures and Rs 20 lakh for service sector initiatives, along with subsidies of up to 35 percent.

In an interview with IANS, Yogita Bhatnagar, General Manager of the Neemuch District Trade and Industry Centre, described PMEGP as an "ambitious" self-employment initiative by the Central government.

"This is an excellent government scheme that allows loans of up to Rs 50 lakh for manufacturing and Rs 20 lakh for the service sector. In urban settings, males from the general category receive a 15 percent subsidy, while rural residents benefit from 25 percent. Other groups, including Backward Classes, minorities, women, Scheduled Castes, and Scheduled Tribes, receive subsidies of up to 25 percent in urban areas and 35 percent in rural regions," she elaborated.

She highlighted that numerous service-sector units established through the program are now flourishing, with many planning further expansions.

Jeet Kilawala, a Neemuch entrepreneur involved in the Ashwagandha and Chia seed business, recounted how he expanded his operations through PMEGP.

"I initiated this business in 2012 with just one or two bags. By 2018-19, I aimed to establish my own plant in the industrial area to enhance product quality and attract international buyers. A friend informed me about PMEGP, leading me to secure a loan through the Industry Department and install modern machines. The assistance from this initiative significantly boosted my expansion. I am deeply grateful to PM Modi for launching such a remarkable scheme for the youth," he expressed to IANS.

Another entrepreneur, Harishankar Bherawat from Jawad in Neemuch, shared that he established a Sortex plant named Kanha Masala Udyog after obtaining a Rs 26 lakh loan under PMEGP.

"The scheme provided a 35 percent subsidy, which alleviated my interest burden. After setting up the plant, I also hired three additional staff members. My financial situation has significantly improved," he stated.

He emphasized that various government initiatives are empowering youth financially.

"Many individuals have created jobs through such schemes. I'm thankful to the Prime Minister for continuously launching initiatives that motivate the youth to generate more employment," he added.

Geeta Suthar, a woman entrepreneur from Neemuch, launched a PVC window manufacturing business with a Rs 22 lakh loan from the Bank of India under PMEGP, which included a Rs 5 lakh subsidy.

"I employed five individuals in my unit. I am incredibly appreciative of the Prime Minister. My business has thrived thanks to the PMEGP scheme," she said in her conversation with IANS.

Lokesh Verma, who operates a tofu (soya paneer) business in Neemuch, mentioned that he benefited from both PMEGP and the Pradhan Mantri Rojgar Srijan Yojana.

"I utilized the loan to acquire machinery and advance my business. Now, my unit is profitable. I express my gratitude to the Prime Minister for this support. I secured a loan of Rs 5.5 lakh under PMEGP, which also included a 15 percent subsidy," he shared with IANS.

The PMEGP is facilitating individuals across districts like Neemuch to become entrepreneurs and job creators, aligning with the broader national objective of self-sufficient villages and a robust rural economy.