PMEGP Scheme (Prime Ministers Employment Generation Program): The PMEGP Scheme is a revolutionary initiative by the central government aimed at providing ample employment opportunities to the youth in various sectors. This scheme enables eligible individuals to avail loans ranging from 20 to 50 lakhs, empowering them to establish their own businesses and contribute to the economic growth of the country. Let’s delve deeper into the eligibility, application process, and benefits of the PMEGP Scheme.
PMEGP Scheme Youth Will Get Loan For Employment
The PMEGP scheme offers young people the opportunity to obtain loans ranging from 20 to 50 lakh by participating in manufacturing or service sector ventures. You can apply for this through the portfolio portal or the Udyam Sarathi app. Interested entrepreneurs can find complete information on business selection, project report creation, market analysis, etc., on these platforms.
Benefits of PMEGP Scheme
The primary objective of the PMGYP is to generate employment opportunities for the youth of the country, especially those from disadvantaged backgrounds. This scheme benefits both rural and urban areas. To encourage young people to start their own businesses, loans ranging from ₹10 to ₹25 lakhs are provided. The central government emphasizes giving loans to as many eligible applicants as possible.
Eligibility for PMEGP Scheme
To avail the benefits of the PMEGP scheme, it will be necessary for you to fulfill certain eligibility criteria.
- It is important to have Indian origins.
- The applicant must be at least 18 years old.
- It is essential for the applicant to have completed at least 8 years of education.
- The main objective of this program is to provide aid to emerging entrepreneurs rather than focusing on the enlargement of existing businesses.
- Preference will be given to applicants who have received training from a government institute.
- Those already benefiting from other subsidized schemes may not be eligible.
- Allied institutions and charitable organizations can also benefit from the scheme.
Required Documents for PMEGP Scheme
Certain documents are required while applying for PMEGP.
- Aadhaar card of the candidate
- mobile no
- PAN card
- address proof
- Educational Qualification Certificate
- Caste Certificate (if applicable)
- Passport size photograph
Application Process of PMEGP Scheme
Applying for PMEGP Scheme is an easy process.
- Visit the official website of PMEJP through the provided link below.
- Go to the homepage of that website now and search for the link to the online form for a loan.
- Choose the link for Online Application after that.
- Please fill in the necessary information in the form and also upload the required documents.
- To complete the application, click on the Final Submit button.