Govt sets target of Rs. 1380 cr for micro units under PMEGP The government sets a target for setting up of about 1.03 lakh micro units with the margin money subsidy of Rs.1380 crore to generate employment for 8.25 lakh persons in XII Plan under the Prime Ministers Employment Generation Programme (PMEGP) for year 2014-15, an official statement by MSME Ministry informed Monday. For the year 2014-15, the targets have been fixed for setting up of about 1.03 lakh micro units with the margin money subsidy of Rs.1380.00 crore to generate employment for 8.25 lakh persons, said MSME ministry. The PMEGP has completed two years during the XII Plan period successfully, therefore, it has been approved for continuation by the Ministry during 12th plan without any change in the broad framework and parameters of the Scheme. The scheme has received very encouraging response from all the stakeholders in the country and is well received by the unemployed youth, according to the statement. The government provides Margin Money subsidy between 25 to 35 percent of the Project cost, depending upon the category of the entrepreneur, with the remaining amount being covered by the banks.
Posted on: Wed, 16 Jul 2014 04:48:19 +0000
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