PMEGP Loan Yojana 2024: If you’re interested in starting your own business, the government has initiated a program where you can receive a loan for your venture along with subsidies. The Central Government has introduced the PMEGP Loan Yojana 2024, providing detailed information about it. By reading this article, you can learn more about the scheme and how it can help you in establishing your own business.
Contents
PMEGP Loan Yojana 2024 Details
| Scheme | PMEGP Loan Yojana 2024 |
| Location | India |
| Year | 2024 |
| Category | Yojana |
| Mode | Online |
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Objectives
- Provide financial assistance under the Bank PMEGP to establish a new unit.
- The aim of the scheme is to generate employment in both rural and urban areas by establishing enterprises or projects.
- Focus on increasing the income of all young entrepreneurs starting businesses, thereby contributing to the growth rate of rural and urban employment.
- The main objective of the scheme is to bring together traditional artisans and unemployed youth in both rural and urban areas, providing them with an opportunity for self-employment.
Benefits
- Under the PMEGP loan scheme, an increase in the employment rate can be observed across the entire country.
- With the assistance of the PMEGP loan scheme, one can easily avail of loans up to 50 lakhs for starting a business.
- Through this scheme, not only can you become self-employed, but you can also achieve self-reliant development.
- If you aspire to make your future stable and personal, then the PMEGP loan could be the right choice for you.
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Eligibility
If you wish to apply under this scheme, the applicant must meet the following criteria:
- Any individual above 18 years of age is eligible.
- Assistance is provided only for new projects.
- Units that have availed government subsidy under any other scheme are not eligible.
- No minimum educational qualification is required for projects up to Rs 5 lakhs in the service sector and up to Rs 10 lakhs in the manufacturing sector.
- Eligibility requires a minimum of Class 8th pass for projects above Rs 5 lakhs in the service sector and above Rs 10 lakhs in the manufacturing sector.
- There is no income ceiling for eligibility.
Required Documents
Required Documents for PMEGP Loan Yojana 2024:
- Duly filled Application Form.
- Passport-sized photograph.
- Aadhaar card.
- Class 8th pass certificate.
- PAN card.
- EDP (Entrepreneurship Development Program) certificate.
- Caste certificate.
- And any other necessary documents as per the requirements of the scheme.
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Subsidy Under the Scheme
Through this scheme, if an applicant wishes to avail subsidy, the government provides up to 35% subsidy for rural areas and up to 25% subsidy for urban areas. The loan amount under this scheme ranges from 2 lakh to 10 lakh.
How to Apply Online for PMEGP Loan Yojana 2024?
To apply for the PMEGP scheme, follow these steps on the official website:
1. Visit the official website.
2. On the home page, locate the “Apply” option just before “Application for New Unit.”
3. Click on “Apply,” and the application form will appear.
4. Carefully fill out the application form.
5. After completing the form, click on the “Submit” option.
6. Upon successful submission, you will receive a registration number and password. Ensure to secure this information.
7. After registering successfully, return to the home page.
8. On the home page, find the “pmegp Login” option just before “Registered Applicant.”
9. Click on “pmegp Login” and log in to the portal.
10. After logging in, you will be directed to the application form again. Scan and upload all the necessary documents.
11. Click on “Submit.” You will receive a receipt of your application, which you should print and securely store.
Important Links
Apply Link: Click Here
Official Website: Link