Over 20 lakh jobs created under PMEGP: MSME Ministry

Feb 02 2014, 18:30 IST
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The government said it hasreleased Rs 5,381.63 crore for the Employment Generation Programme. Reuters The government said it hasreleased Rs 5,381.63 crore for the Employment Generation Programme. Reuters
SummaryThe government said it hasreleased Rs 5,381.63 crore for the Employment Generation Programme...

The government today said it hasreleased Rs 5,381.63 crore for the Employment Generation Programme (PMEGP) scheme which generated over 20 lakh jobs since 2008-09.

"More than 20 lakh persons have been provided employment under the PMEGP which is being implemented by the Ministry of Micro, Small and Medium Enterprises," an official statement said.

It added the government released Rs 5,381.63 crore under the scheme since 2008-09 and assisted more than 2.33 lakh projects. The allocation for 2013-14 (B.E.) is Rs 1,418.28 crore.

"For the country as a whole, the outlay for XII Five Year Plan under PMEGP has been kept at Rs 8,060 crore which is 70 per cent higher than the allocation of XI Plan for the scheme," it said.

The PMEGP is a credit-linked subsidy programme aimed at generating self-employment opportunities as well as wage employment through establishment of micro-enterprises in the non-farm sector.

Khadi Village Industries Commission (KVIC) is the nodal agency at national level to implement the scheme across the country. Under the PMEGP, any project in the manufacturing sector costing up to Rs 25 lakh and in the service sector up to Rs 10 lakh is eligible for assistance.

The assistance is in the form of margin money subsidy for mobilising bank credit.

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