Which Union Ministry is related to Prime Minister’s Employment Generation Programme (PMEGP)?

Question

Question

This question was previously asked in

SSC CHSL Tier-I Exam 2022 Official Paper (Held On: 17 March, 2023 Shift 1)

Answer 1

The correct answer is Ministry of Micro, Small and Medium Enterprises.

Key Points

Prime Minister’s Employment Generation Programme (PMEGP) is a credit-linked subsidy program.
It was launched in 2008 for the generation of employment opportunities through the establishment of microenterprises in rural and urban areas.
It is a central sector scheme being administered by the Ministry of Micro, Small and Medium Enterprises (MSME).
Implementing Agency at the National Level is Khadi and Village Industries Commission(KVIC).
- It is a statutory organization under the administrative control of the Ministry of MSME.
Features of the scheme are as follow-
- It allows entrepreneurs to set up factories or units.
- Any individual above 18 years of age is eligible for this scheme.
- Only new projects/units are considered for sanction of loans.
- Maximum Cost of Project/Unit Admissible for Manufacturing Sector is Rs. 50 lakh.
- Maximum Cost of Project/Unit Admissible for Service Sector is Rs. 20 lakh.
- The government has decided to provide Subsidy in Rural Areas - 25% for the general category and 35% for the special category, which includes SC/ST/ OBC/Minorities, Northeast Region, Hill, and Border Areas. and, In Urban Areas- 15% for general category and 25% for special categories.
- Under the scheme, loans are provided by Public Sector Banks, Regional Rural Banks, Co-operative Banks, and Private Scheduled Commercial Banks approved by respective State Task Force Committee.

Additional Information

The Ministry of Micro, Small and Medium Enterprises, a branch of the Government of India.
It is the apex executive body for the formulation and administration of rules, regulations, and laws relating to micro, small and medium enterprises in India.