Over one lakh MSMEs set up under Prime Minister’s Employment Generation Programme (PMEGP) in 2021-22: Centre

Around 1.03 lakh units were set up in the manufacturing and services sectors in 2021-22 under the Prime Minister’s Employment Generation Programme (PMEGP), according to the Minister of State for Medium and Small Mini Enterprises (MSME) - Mr. Bhanu Pratap Singh Verma. As per the data, 103,219 recipients availed loans in 2021-22, whereas in 2020-21, 74,415 recipients benefitted from the scheme.

“The scheme is being implemented through banks, District Industries Centres (DICs), State KVIC Directorates, and State Khadi and Village Industries Boards (KVIBs) at the state level. Loans under PMEGP are provided for manufacturing and service sector," the ministry said.

Retail outlets backed by manufacturing or service facilities permitted across the country, self-help groups, and institutions registered under the Societies Registration Act, 1860 are being supported through this scheme. Financial support of up to US$ 30,276 (Rs. 25 lakh) is provided for micro-enterprises in the manufacturing sector, while for businesses in the service sector, it is US$ 12,110 (Rs. 10 lakh).

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.