Skilling, Labour, Talent for MSMEs: PMEGP was launched in 2008 as a credit-linked subsidy programme to help create self-employment opportunities by setting up micro-businesses in the non-farm sector.
Skilling, Labour, Talent for MSMEs: The number of people employed in India’s micro-enterprises under the Prime Minister’s Employment Generation Programme (PMEGP) in the past four financial years and the current FY (till January 31) stood at a little over 20.13 lakh, according to the data shared by MSME Minister Nitin Gadkari in the Rajya Sabha on Monday. Maximum jobs — 5.87 lakh during the said period was generated in FY19 while the current FY is likely to create the least number of jobs. While 3.07 lakh jobs have been created till January 31 in the current FY, however, the government is likely to miss the target of creating 5,94,208 jobs (as per the data shared by Gadkari recently in Rajya Sabha) — falling short of 2,86,728 jobs for FY20. FY16, FY17, and FY18 saw the employment of 3.23 lakh, 4.07 lakh, and 3.87 lakh people respectively. Till January 31, 2020, the fall in employment generation from FY19 was 47 per cent.
The government helped create nearly 30,000 jobs (in 10 days, that is, till January 31) from 2,78,984 jobs as on January 21, 2020, and would have to create additional 47,788 jobs in every 10-day period to hit the target for FY20. The states leading the tally for maximum jobs creation were Tamil Nadu with 26,928 jobs followed by Gujarat with 24,960 jobs, Jammu and Kashmir with 24,376 people employed, Maharashtra with 24,000 jobs and Uttar Pradesh with 22,456 jobs in their respective micro-enterprises.
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PMEGP was launched in 2008 as a credit-linked subsidy programme to help create self-employment opportunities by setting up micro-businesses in the non-farm sector. The maximum loan offered for setting up/assisting business in manufacturing is up to Rs 25 lakh and Rs 10 lakh in the service sector along with 15-35 per cent subsidy for various categories. According to the government’s FY 19 MSME report, out of total 6.33 crore, MSMEs in India, 6.30 (99 per cent) are micro-units while only 3.31 lakh are medium enterprises and 0.05 lakh are medium businesses.