The scheme is a composition of two schemes- Prime Minister’s Rojgar Yojana and Rural Employment Generation Program. It is a credit-linked subsidy program that aims at generating employment opportunities through establishment of micro enterprises in rural as well as urban areas. The objective is to provide continuous and sustainable employment to a large segment of traditional and prospective artisans, rural and urban unemployed youth in the country. The scheme facilitates participation of financial institutions for higher credit flow to micro sectors.
Other Governance and Social welfare schemes are :
ELIGIBILITY
- Any individual, above 18 years of age.
- At least VIII standard pass for projects costing above Rs.10 lakh in the manufacturing sector and above Rs. 5 lakh in the business / service sector. Only new projects are considered for sanction under the scheme.
- Self Help Groups (including those belonging to BPL provided that they have not availed benefits under any other scheme), Institutions registered under Societies Registration Act, 1860; Production Co-operative Societies, and Charitable Trusts are also eligible.
- Existing Units (under PMRY, REGP or any other scheme of Government of India or State Government) and the units that have already availed Government Subsidy under any other scheme of Government of India or State Government are not eligible.
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