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PM Employment Generation Program Extended Till 2025 Modi Government Scheme

PM Employment Generation Program: The Central Government has taken a...

PM Employment Generation Program: The Central Government has taken a big decision to promote employment in the country. The government has extended the Prime Minister’s Employment Generation Program (PMEGP) till 2025-26. A total of Rs 13,554.42 crore will be spent on this. The government has given this information on Monday.

40 lakh people will get employment
After this decision of the government, the Ministry of Micro, Small and Medium Enterprises (MSME) said that this scheme will create continuous employment opportunities for 40 lakh people in five financial years.

to provide employment opportunities
This scheme has been extended for the period of 15th Finance Commission i.e. for five years from 2021-22 to 2025-26. The goal of PMEGP is to provide employment opportunities to youth across the country through setting up of micro enterprises in non-farm sectors.

Many amendments made to the plan
Along with increasing the time limit of this scheme, some more amendments have also been made in it. Under this, the maximum project cost for manufacturing units has been increased from the existing Rs 25 lakh to Rs 50 lakh. At the same time, it has been increased from Rs 10 lakh to Rs 20 lakh for service units.

development of rural areas
The definitions of village industries and rural areas have also been changed in PMEGP. Areas falling under Panchayati Raj Institutions will be considered as rural areas. Areas falling under municipal corporations will be considered as urban areas. All implementing agencies will be allowed to receive and process applications. Aspirational districts and ‘transgender’ applicants will be placed in a special category and will be eligible to get more subsidy.

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