PMEGP is a boon to provide employment to many unemployed people at present. The full name of this scheme is Pradhan Mantri Udyog Shristi Yojana. It is a completely central government scheme. This scheme mainly aims to encourage youth and provide subsidy to the unemployed in rural areas, especially women in rural areas, BC, SC and ST categories to get subsidy of up to 35% for many schemes.
Let’s know what to do now to get PMEGP scheme subsidy.
How to get PMEGP loan up to 25 lakhs.?
For PMEGP loan, you first need to get loan approval from the bank. For this, apply for a loan from the bank and after the bank approves the loan, you need to go to the PMEGP login portal with those details.
Now, you need to enter the required details on the PMEGP portal. Especially, you need to provide basic details like Aadhaar number and PAN card number.
Now you need to select an agency. There are three types of agencies from which you want to get subsidy. The first is Khadi Board, the second is Khadi Commission, and the third is District Industries Corporation. You need to select any one of these three.
Whichever agency you apply for subsidy with, that agency will come to verify it and find out whether the unit is actually established, whether it is doing business, and whether it is providing employment.
After verification, the subsidy will be released to us. If you want to avail this subsidy…
For example, if you submit a project report of Rs 25 lakh to a government bank, and you get approved for a loan of Rs 25 lakh, you are likely to get a subsidy of Rs 8,72,000.
A detailed project report for the loan should be prepared by a chartered accountant. It should include information like what is the business, what are our expenses, how much profit do we expect and when will we reach the break-even point.
Submit the project report to the bank and inform the loan amount required for the project. If the bank likes our project, they will sanction the loan based on the project you fall under.
After the loan is sanctioned, the loan sanction letter should be uploaded on the PMEGP portal. Also, a copy should be submitted to the agency of our choice.
After submitting this loan sanction letter, you should attend EDP training classes. The subsidy will be available only if the EDP training is completed. EDP training stands for Entrepreneurial Development Program. It is a completely online course. It consists of 15 classes. 15 exams…