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Today Date : Tuesday, July 16, 2024

PM's employment generation programme aims to revive traditional businesses

PM's employment generation programme aims to revive traditional businesses

The Prime Minister’s Employment Generation Programme (PMEGP) helps to revive traditional businesses with the assistance of subsidized loans, said TV Anbu Chelian, assistant director of Khadi and village industries commission (KVIC) on Wednesday.

Addressing about 120 entrepreneurs during the district-level awareness camp organized by Mother social service trust at Sathankulam, he said that the union government has been distributing business loans to artisanal and other traditional businesses through the commission.

“Under the PMEGP scheme, the KVIC provides maximum of Rs 50 lakh for production-based industries and Rs 20 lakh for service-based industries with a subsidy upto 35%. 
For entrepreneurs whose projects are worth less than Rs 10 lakh, there is no age limit or qualification for enrolment to avail of loans. 

This will especially benefit dairy farms, poultry farms, the salt industry,  palm product manufactures and handicraft artisan,” he added.District Industries Centre (DIC) assistant director G Akila explained the beneficiary selection process, required documents, methods to plan approval, entrepreneurship training beneficiary share, approaching the bank, and subsidy details at the awareness camp.

MSME assistant director G Jerlina Bub, KVIC assistant director S Senthil Kumar, Mother social service trust director SJ Kennedy, lead trust director S Banumathi and survey and statics inspector R Petchiappan were also present.