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- Any individual, above 18 years of age
- There will be no income ceiling for assistance for setting up projects under PMEGP
- For setting up of project costing above ₹10.00 Lakh in the manufacturing sector and above ₹5.00 Lakh in the business/service sector, the beneficiaries should possess at least VIII standard pass education.
- Assistance under the scheme is available only for new projects sanctioned specifically under PMEGP
Note : Existing units and the units that have already availed Government subsidy under any other scheme of Government of India or State Government are not eligible
For setting up new Micro enterprises:
| Categories | Beneficiary’s contribution of project cost | Rate of Subsidy of project cost | |
|---|---|---|---|
| Urban | Rural | ||
| General | 10% | 15% | 25% |
| Special categories | 5% | 25% | 35% |
The maximum cost of the project admissible for margin money subsidy under manufacturing sector is ₹50 Lakhs and business/service sector is ₹20 Lakhs respectively
Identification of Beneficiary
At district level by the State/District level implementation agencies and Banks.
Facility
Term Loan & Working Capital in form of cash credit
Project cost
- Increase in maximum cost of the project/unit admissible for margin money subsidy under Manufacturing sector from Rs. 25 lakhs to Rs. 50 lakhs.
- Increase in maximum cost of the project/unit admissible for Margin Money subsidy under service sector from Rs. 10 lakhs to Rs. 20 lakhs.
As per applicable rate of Interest
Repayment
Between 3 to 7 years after an initial moratorium as may be prescribed by Bank
For up-gradation of existing PMEGP/REGP/MUDRA
- Margin money (subsidy) claimed under PMEGP has to be successfully adjusted on the completion of lock in period of 3 years.
- First loan under PMEGP/REGP/MUDRA has to be successfully repaid in stipulated time.
- The unit is profit making with good turnover and having potential for further growth in turnover and profit with modernization/upgrading the technology.
Whom to contact
State Director, KVIC
Address available at http://www.kviconline.gov.in
Dy. CEO (PMEGP), KVIC, Mumbai
Ph: 022-26714370
Email: dyceoksr[at]gmail[dot]com
Scheme Guideline available at links mentioned below:
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