Neemuch, June 10 The Prime Minister Employment Generation Programme (PMEGP) has emerged as a game-changer for aspiring entrepreneurs across the country, instilling confidence and promoting self-reliance by providing financial support in the form of loans and subsidies to set up small and micro-scale industries.
This major credit-linked subsidy programme is aimed at creating self-employment opportunities through the establishment of micro-enterprises in the non-farm sector.
It is implemented by the Khadi and Village Industries Commission (KVIC), which acts as the nodal agency at the national level. At the state level, the scheme is executed through State KVIC Directorates, State Khadi and Village Industries Boards (KVIBs), District Industries Centres (DICs), and partner banks.
One of the key objectives of Prime Minister Narendra Modi's flagship scheme is to empower citizens to become financially independent, thereby contributing to the vision of a Viksit Bharat by 2047.
In Madhya Pradesh's Neemuch district, numerous residents have expressed their gratitude to the Prime Minister, crediting PMEGP for helping them become self-reliant and enabling their businesses to grow.
Locals say the scheme has not only uplifted individual entrepreneurs but has also helped generate jobs at the grassroots level.
Hundreds of youth in both urban and rural Neemuch have taken advantage of the scheme to set up successful businesses, in turn providing employment to others.
Under PMEGP, eligible individuals can access loans of up to Rs 50 lakh for manufacturing sector ventures and up to Rs 20 lakh for service sector businesses, with subsidies of up to 35 per cent.
Speaking to IANS, Neemuch District Trade and Industry Centre's General Manager, Yogita Bhatnagar, termed PMEGP an "ambitious" self-employment initiative of the Central government.
"This is a very good scheme of the government under which loans of up to Rs 50 lakh for manufacturing and Rs 20 lakh for the service sector can be sanctioned. In urban areas, males from the general category receive a 15 per cent subsidy, while those in rural areas get 25 per cent. Other categories such as Backward Classes, minorities, women, Scheduled Castes, and Scheduled Tribes receive subsidies up to 25 per cent in urban and 35 per cent in rural areas," she said.
She noted that several service-sector units established under the scheme are now thriving. "Many of them are even planning expansions," she added.
Jeet Kilawala, a Neemuch-based entrepreneur engaged in the Ashwagandha and Chia seed business, shared how he scaled up his work through PMEGP.
"I began this business in 2012 with just one or two bags. In 2018-19, I decided to set up my own plant in the industrial area to improve product quality and cater to international buyers. A friend told me about PMEGP, after which I took a loan through the Industry Department and installed modern machines. The support from this scheme helped me expand significantly. I sincerely thank PM Modi for launching such a great scheme for the youth," he told IANS.
Another entrepreneur, Harishankar Bherawat from Jawad in Neemuch, told IANS that he set up a Sortex plant named Kanha Masala Udyog after receiving a Rs 26 lakh loan under PMEGP.
"The scheme offered a 35 per cent subsidy, which helped a lot in reducing the interest burden. After establishing the plant, I also employed three others. My financial condition has become much stronger," he said.
He highlighted that various schemes introduced by the Centre are enabling youth to become financially empowered.
"Many have created employment through such schemes. I want to thank the Prime Minister for continuously launching initiatives that inspire the youth to generate more jobs," he added.
Geeta Suthar, a woman entrepreneur from Neemuch, started a PVC window manufacturing business with the help of a Rs 22 lakh loan from the Bank of India under PMEGP, which included a Rs 5 lakh subsidy.
"I employed five people in my unit. I am extremely grateful to the Prime Minister. My business has progressed because of the PMEGP scheme," she said, speaking to IANS.
Lokesh Verma, who runs a tofu (soya paneer) business in Neemuch, said he availed benefits under PMEGP and the Pradhan Mantri Rojgar Srijan Yojana.
"I used the loan to purchase machines and take my business forward. Now, my unit has become profitable. I thank the Prime Minister for this support. I had taken a loan of Rs 5.5 lakh under PMEGP, which also included a 15 per cent subsidy," he told IANS.
The PMEGP is enabling individuals across districts like Neemuch to become entrepreneurs and job creators, fulfilling the larger national goal of self-reliant villages and a robust rural economy.
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