PMEGP may continue in 12th Plan period

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SME Times News Bureau | 18 Oct, 2011
Running successfully in the 4th year of its implementation, the Prime Ministers Employment Generation Programme (PMEGP) is expected to continue over the next five-year plan with more than double the fund allocation, said the Ministry of Micro, Small and Medium Enterprise (MSME) in a press statement on Monday.

The scheme was launched in 2008, with a total plan outlay of Rs 4,735 crore for four years (2008-09 to 2011-12). So far an amount of 2,955 crore rupees have been released by the Ministry under this scheme. In an encouraging trend, 1.36 lakh projects have been assisted so far, generating 13.16 lakh employment, release said.

According to KVIC, more than 90 percent of these units have been set up. For this year, 68 percent of margin money allocation has already been released to states with more demand coming in from many states, it said.

PMEGP is a Central Sector Scheme administered by the Ministry of MSME. The Scheme is implemented through state Khadi Village and Industries Commission (KVIC) with the involvement of banks.

The objectives of this scheme are to generate employment opportunities in rural as well as urban areas of the country through setting up of new self-employment ventures or projects or micro enterprises, ministry added.