Centre approves extension of Prime Minister’s Employment Generation Programme for five years
The government has approved continuation of the Prime Minister’s Employment Generation Programme (PMEGP), over the 15th Finance Commission Cycle for five years from 2021-22 to 2025-26. It has been appproved with an outlay of around 13 thousand 554 crore rupees. The Ministry of Micro, Small and Medium Enterprises (MSME) is implementing the programme to facilitate generation of employment opportunities for unemployed youth across the country by assisting setting up of micro-enterprises in non-farm sector. Since its inception in 2008-09, about 7.8 lakh micro enterprises have been assisted with a subsidy of 19,995 crore rupees generating estimated sustainable employment for 64 lakh persons.
The government has made modifications in the existing Scheme. It has increased the maximum project cost from existing 25 lakh rupees to 50 lakh rupees for manufacturing units and from existing 10 lakh rupees to 20 lakh rupees for service units. The scheme will create sustainable estimated employment opportunities for about 40 lakh persons in five financial years.
