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  1. It allows entrepreneurs to set up factories or units. 
  2. Any individual above 21 years of age is eligible under this scheme.
  3. Only new projects/units are considered for sanction of loans.
  4. Maximum Cost of Project/Unit Admissible for Manufacturing Sector is Rs. 25 lakh.
  5. Maximum Cost of Project/Unit Admissible for  Service Sector is Rs. 10 lakh.
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Option 2 : Any individual above 21 years of age is eligible under this scheme.

The correct answer is Any individual above 21 years of age is eligible under this scheme.

  • 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. 25 lakh.
    • Maximum Cost of Project/Unit Admissible for  Service Sector is Rs. 10 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.

 

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  • 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.

  • The Minister of Micro, Small and Medium Enterprises is Nitin Gadkari.
  • Constituency-Nagpur
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Related Questions

In the following question, the 1st and the last part of the sentence/passage are numbered 1 and 6. The rest of the sentence/ passage is split into four parts and named P, Q, R and S. These four parts are not given in their proper order. Read the sentence/ passage and find out which of the four combinations is correct. 1. More than half of the world’s population lives in urban areas. P. Due to the ongoing urbanisation and growth of the world’s population, there will be about 2.5 billion more people added to the urban population by 2050. Q. The world’s urban areas are highly varied, but many cities and towns are facing problems such as a lack of jobs, R. homelessness and expanding squatter settlements, inadequate services and infrastructure, poor health and educational services and high levels of pollution. S. This will mainly happen in Africa and Asia. 6. The situation is expected to get worse.?
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