Pradhan Mantri Rozgar Yojana Details, PMRY Eligibility, Application Form
Pradhan Mantri Rozgar Yojana was launched on the auspicious day of 2nd October, 1993. The main objective of the PMRY scheme was to provide easy subsidized financial assistance to educated unemployed youth for starting their own enterprises in manufacturing, business & service and trade sectors. Initially the scheme was aimed at providing self-employment to one million educated unemployed youth in the country by setting up 7 lakh micro enterprises through inducting service and business ventures over a period of 2 ½ years. The scheme was a stupendous success and caught the imagination of the youth. Overwhelmed with the response and ever-increasing need, the Government has decided to make it a permanent scheme and framed modalities & guidelines for its successful implementation and to fulfil the purpose for which it is designed.
Salient features of Pradhan Mantri Rozgar Yojana
- Centrally sponsored Scheme
- Small Industries Service Institute(SISI) located in the four Metropolitan cities of Delhi, Kolkata, Mumbai and Chennai are the implementing agencies of this scheme.
- The DCSSI has set up a special PMRY division in the headquarters under the able guidance of an IAS officer. DCSSI formulates the rules, regulations and guideline instructions and provides clarifications on all the matters pertaining to PMRY scheme. It has also devised a complete feedback information by the means of getting monthly, quarterly and annual progress reports from all the states to closely monitor the implementation and progress of the scheme.
- Similarly at the state level, State Level PMRY Committee meetings monitors the progress of the scheme every quarter.
- The yearly targets for number of beneficiaries for each state is fixed by DCSSI.
Eligibility Criteria for Pradhan Mantri Rozgar Yojana
- For all educated unemployed between the age group of 18-40 years, in general with a 10 years relaxation for SC/STs, ex-servicemen, physically handicapped and women
- 8th passed. Preference will be given to those who have been trained for any trade in Government recognised/approved institutions for a duration of at least six months
- Neither the income of the beneficiary along with the spouse nor the income of parents of the beneficiaries shall exceed Rs.40000 pa
- Permanent resident of the area for at least 3 years.
- Should not be a defaulter to any nationalized bank / financial institution/cooperative bank. Further, a person already assisted under other subsidy linked government schemes would not be eligible under this scheme.
- All economically viable activities including agriculture and allied activities but excluding direct agricultural operations like raising crop, purchase of manure etc.
- Preference should be given to weaker sections including women. The scheme envisages 22.5% reservation for SC/ST and 27% for other Backward class (OBCs). In case SC/ST/OBC candidates are not available, States/UTs Government will be competent to consider other categories of candidates under PMRY.
Benefits of Pradhan Mantri Rozgar Yojana
- Subsidy will be limited to 15% of the project cost subject to ceiling of Rs.7,500/- per entrepreneur. Banks will be allowed to take margin money from the entrepreneur varying from 5% to 16.25% of the project costs as to make the total of the subsidy and the margin money equal to 20% of the project cost
- Rs.1.00 lakh for business sector. Rs. 2.00 lakhs for other activities. Loan to be of composite nature. If two or more eligible persons join together in a partnership, project upto Rs.10.00 lakhs are covered. Assistance shall be limited to individual admissibility.
No collateral for project upto Rs.1 lakh. Exemption from collateral in case of partnership project will also be limited to an amount of Rs.1 lakh per person participating in the project.
- Normal bank rate of interest shall be charged. Repayment schedule may range between 3 to 7 years after an initial moratorium as may be prescribed.
- Training expenses and operational expenditure to be covered within the ceiling of Rs.2,000 per case. The existing system of revising the scale of expenditure in consultation with the Finance for various activities and flexibility would be available to the implementing agencies of the state and central levels subjects to condition that over all training and operating expenses remain within the ceiling of Rs.2,000/- per case sanctioned.