PMEGP to support traditional businesses by giving subsidised loans

The PMEGP will essentially be helpful to industries like dairy and poultry farms, the salt industry, palm product manufacturers and handicraft artisans.

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TV Anbu Chelian, the assistant director of the Khadi and Village Industries Commission (KVIC), spoke to 120 entrepreneurs at an awareness camp in Sathankulam about the Prime Minister’s Employment Generation Programme (PMEGP).

The PMEGP aims to support traditional businesses by providing subsidised loans. Under the PMEGP, the KVIC offers a maximum of INR 50 lakh for production-based industries and INR 20 lakh for service-based industries, with a subsidy of up to 35 per cent.

Regardless of age or qualification, entrepreneurs whose projects are worth less than INR 10 lakh are eligible to apply for loans through this program. The programme is particularly beneficial for dairy and poultry farms, the salt industry, palm product manufacturers, and handicraft artisans. G Akila, assistant director, District Industries Centre (DIC) also provided information on the selection process, required documents, and other details related to the programme.

Other attendees at the awareness camp included G Jerlina Bub, assistant director, Ministry of Micro, Small and Medium Enterprises (MSME), KVIC assistant director, S Senthil Kumar, the director of the Mother Social Service Trust, SJ Kennedy, and the lead trust director, S Banumathi.

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