The Prime Minister Employment Generation Program (PMEGP) is one of the flagship programs of the Modi Government. Under this scheme, credit linked subsidy is provided to new enterprises and MSME’s. The aim is to ensure continuous and sustainable employment opportunities in rural and urban areas.
The Ministry of MSME says that Rs. 860.51 crore has been released by the Ministry as margin money under PMEGP out of which Rs. 528.32 crores has already been disbursed by banks.
As per government data, 24126 new enterprises providing employment to 170983 persons have benefited from the Scheme. There is more than 50% increase over the previous year in terms of funds disbursed by the banks.
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