Dhamtari, Oct 16 – Prime Minister Narendra Modi’s goal of a nation where all young people own their futures is driving a fresh push in economic empowerment. The Central government has rolled out the Prime Minister’s Employment Generation Programme (PMEGP), offering loans and hefty government subsidies to help start small and micro‑industries across India.
Under PMEGP, the state hands out loans of up to ₹10 lakh and pays a subsidy of up to 40 percent on the project cost. The aim is to give young entrepreneurs a realistic chance to launch their own businesses and, in turn, create jobs for others.
A clear example comes from Dhamtari in Chhattisgarh. Shakir Khan, a local youth, used a ₹10 lakh loan to open a small restaurant. Today he supports his family, earns a steady income, and credits Prime Minister Modi for starting the scheme that put him on his feet. “I couldn’t have done this without the PMEGP,” he says.
PMEGP, launched in August 2008, replaced two earlier programmes – the Prime Minister’s Rozgar Yojana (PMRY) and the Rural Employment Generation Programme (REGP) – and is managed by the Ministry of Micro, Small and Medium Enterprises (MSME). The Department keeps the scheme in the public purse for five years, from 2021‑22 to 2025‑26, under the 15th Finance Commission.
Across those five years, the government has earmarked a total outlay of ₹13,554.42 crore. That funding supports about 400,000 projects and aims to create 3 million jobs. On average, each new unit hires eight workers. In addition, the government plans to upgrade roughly 1,000 existing units each fiscal year.
The PMEGP stands out as a practical tool for employment generation in non‑farm sectors, especially in rural and urban areas. By giving young people the financial backing they need, the programme helps build a more inclusive, self‑sufficient economy.
Source: ianslive
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