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PMEGP LOAN: Eligibility, Loan Amount, Document And Apply Online



Entrepreneurship plays a crucial role in driving economic growth, creating employment and fostering innovation in india. To support aspiring entrepreneurs and small business owners, the Government of India introduced various schemes. one of which is the Prime Minister’s Employment Generation Programme (PMEGP) Loan.

This article aims to provide an overview of the PMEGP loan scheme, its objectives, eligibility criteria, application process, and benefits.

What is PMEGP?

The Prime Minister’s Employment Generation Programme (PMEGP) is a credit-linked subsidy scheme launched by the Ministry of Micro, Small & Medium Enterprises (MSME), Government of India.

The primary objective of PMEGP is to generate employment opportunities in rural as well as urban areas by promoting entrepreneurship and setting up micro-enterprises.

Objectives of PMEGP

Promoting Entrepreneurship: PMEGP aims to encourage individuals to become entrepreneurs and start their own micro-enterprises by providing financial assistance and support.

Generating Employment: By facilitating the establishment of new enterprises, PMEGP contributes to the creation of sustainable employment opportunities, particularly in rural and economically weaker sections of society.

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Encouraging Economic Development: Micro-enterprises play a vital role in fostering economic development at the grassroots level. PMEGP seeks to promote inclusive growth by supporting the growth of small businesses across various sectors.

Key Components of PMEGP

Credit-linked Subsidy: Under PMEGP, eligible beneficiaries can avail of financial assistance in the form of a credit-linked subsidy for setting up new micro-enterprises. The subsidy amount varies based on the category of beneficiaries and the location of the enterprise.

Project Cost Coverage: PMEGP covers both the capital expenditure and the working capital requirements of the project, subject to certain limits and guidelines prescribed by the implementing agencies.

Skill Development Training: Beneficiaries of PMEGP may also receive skill development training and entrepreneurial guidance to enhance their capabilities and improve the viability of their enterprises.

Eligibility Criteria for PMEGP

To avail of the PMEGP loan, applicants must fulfill the following eligibility criteria:

  1. Individual Entrepreneurs: Individuals above 18 years of age who have completed the required educational qualification are eligible to apply for PMEGP.
  2. Self-help Groups (SHGs): SHGs registered under the relevant government schemes can also apply for PMEGP loans for group projects.
  3. Institutional Applicants: Charitable trusts, production-based cooperative societies, and institutions registered under the relevant laws are eligible for PMEGP assistance.
  4. Location: The enterprise should be set up in the identified backward areas or rural/semi-urban areas specified by the implementing agencies.

Application Process for PMEGP Loan

The application process for PMEGP loan involves the following steps:

  1. Project Proposal: The applicant must prepare a detailed project proposal outlining the nature of the enterprise, project cost, funding requirements, market potential, etc.
  2. Submission of Application: The completed application along with the project proposal must be submitted to the District Industries Centre (DIC) or the Khadi and Village Industries Commission (KVIC) office in the respective district.
  3. Loan Processing: The DIC/KVIC office scrutinizes the application, conducts a feasibility study, and forwards the eligible proposals to the banks for loan sanction.
  4. Loan Disbursement: Upon approval, the bank disburses the loan amount to the beneficiary's account, and the subsidy component is provided by the KVIC/DIC directly to the bank.
  5. Project Implementation: The beneficiary implements the project as per the approved proposal and utilizes the funds for establishing the enterprise.


Benefits of PMEGP Loan

Financial Assistance: PMEGP offers financial assistance in the form of a credit-linked subsidy, which reduces the financial burden on entrepreneurs and facilitates access to capital.

Employment Generation: By supporting the establishment of new micro-enterprises, PMEGP contributes to job creation, particularly in rural and economically backward regions.

Skill Development: PMEGP provides skill development training and entrepreneurial guidance to beneficiaries, empowering them to run their enterprises successfully.

Promotion of Rural Industries: PMEGP promotes rural and village industries by encouraging local entrepreneurship and harnessing local resources for economic development.


The Prime Minister's Employment Generation Programme (PMEGP) loan scheme is a significant initiative aimed at promoting entrepreneurship, fostering economic growth, and generating employment opportunities in India. By providing financial assistance, skill development training, and entrepreneurial support.

PMEGP empowers individuals to realize their entrepreneurial dreams and contribute to the socio-economic development of the nation. Aspiring entrepreneurs and small business owners are encouraged to explore the PMEGP scheme and leverage its benefits to kick-start their entrepreneurial journey.

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