Pradhan Mantri Rojgar Yojana (PMEGP) Loan Scheme has brought a golden opportunity for the youth in 2025. This scheme helps unemployed youth and small consumers to start their own business. The central
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government has extended this scheme from 2021-22 to 2025-26. Its main aim is to increase employment opportunities in rural and urban areas
What is PMEGP Loan Scheme
PMEGP is a credit-linked subsidy scheme. It is run by the Ministry of Micro, Small and Medium Enterprises (MSME). Khadi and Industrial Commission (KVIC) implements this scheme at the national level. At the state level, KVIC and Industrial Boards (KVIBs), District Industries Centers (DICs) and banks implement it. This scheme provides assistance for starting new businesses.
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The loan amount and how much is it
There are two types of loans available under this scheme. Loans up to Rs 50 lakh are available for the business sector. Loans up to Rs 20 lakh are given for the service or business sector. The government gives a subsidy of 15% to 35%. This subsidy is based on the annual income of the beneficiary.
General Category: 15% subsidy in urban area and 25% subsidy in rural area
Special Category: (SC, ST, OBC, Women, Ex-Servicemen, Disabled, Hilly and Border Areas): 25% subsidy in urban area and 35% subsidy in rural area.
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The beneficiary has to contribute 5-10% of the project cost himself. 10% contribution is required for general category and 5% for special category. The rest of the amount is given by the bank in the form of term loan.
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Loan Features
Unsecured loan: No guarantee is required for loans up to Rs 10 lakh. This loan is covered under the Credit Guarantee Fund (CGFMU/CGTMSE)
Repayment period: The loan can be repaid from 3 to 7 years. A moratorium of 6 months can also be available.
Entrepreneurship Training: Entrepreneurship Development Programme (EDP) training is mandatory after the loan is sanctioned. This training can be online or offline.
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Loan can be applied both online and offline. To apply online, you have to visit the official website www.kviconline.gov.in. After that follow these steps:
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