Rs 1 Cr Subsidy Under PMEGP for Bizmen

Published: 26th June 2014 07:48 AM  |   Last Updated: 26th June 2014 07:48 AM   |  A+A-

VELLORE: Under the Prime Minister’s Employment Generation Programme (PMEMP), an amount of `1 crore has been allotted this year as a subsidy component to help the 79 beneficiaries interested in starting small-scale business ventures.

According to the district industries centre, the scheme was introduced in 2009 to enhance the employability of rural and urban people along with the employment opportunities. Under the scheme, 48 beneficiaries had received `4.15 Cr as loans from banking institutions for starting business ventures last year with a subsidy component of `1.25 crore.

The scheme also states that any proposal to start manufacturing process would receive loans up to `25 lakh and for service related activities up to `10 lakh. The beneficiaries must have a minimum educational qualification of class VIII and should have completed 18 years of age. There is no ceiling on the annual income.

Individual entrepreneurs and cooperative societies, self help groups and trusts can avail the benefits of the scheme. Candidates of general category and willing to start business ventures in the urban areas can avail subsidy of up to 15 per cent on their project cost, while it is 25 per cent for the ventures in rural areas. For SC/ST candidates, women, ex-servicemen, disabled persons, the subsidy components are 25 per cent (in urban areas) and 35 percent (in rural areas).

The application for availing loans and subsidy can be obtained from the district industries centre. For details contact the DIC at 0416-2242512, 2242413.

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