Introduction to PMEGP Scheme:-
Thank you for reading this post, don't forget to subscribe!Under the scheme, the Government of India offers subsidies up to 35% on the total Project Cost, The Project cost covered Rs.20Lacs for Service Sector units & Rs.50 Lacs for Manufacturing units.
Eligibility & Qualification:-
Assistance under PMEGP scheme is available only to new viable projects. Existing units and any units that have already availed government subsidy under PMRY,REGP,PMEGP or any other schemes of Central/State government are also not eligible.
An individual over 18 years of age are eligible. He must passed 8th standard to setup the project over 10 Lacs in the manufacturing sector/5 lacs in the service sector. There is no income ceiling of the individual required. Self help groups, Charitable Trusts, Production co-operative societies are also eligible provided they have not availed any other subsidy loan before.
Subsidy Calculations:-
| Category | Promotors Contribution | Bank Finance | Subsidy Rate (Rural Area) of Project Cost | Subsidy Rate (Urban Area) of Project Cost |
| General | 10% | 90% | 25% | 15% |
| Special | 5% | 95% | 35% | 25% |
Special category includes SC/ST/OBC/women/Minorities/Ex-serviceman/Physically handicapped/ the men lived in hilly and border areas.
The Total Project Cost includes Term Loan & Working Capital Loan, For Rural areas KVIC is the nodal agency & for Urban areas you can contact DIC. for online apply you can visit @https://www.kviconline.gov.in)
