PMEGP:- Prime Minister’s Employment Generation Programme (PMEGP) is a credit linked subsidy programme administered by the Ministry of Micro, Small and Medium Enterprises, Government of India. Khadi & Village Industries Commission (KVIC), is the nodal agency at national level for implementation of the scheme. At state level the scheme is implemented through KVIC, KVIB and District Industries center.
Meghalaya has ranked last among the North East states in the implementation of the Prime Minister Employment Generation Programme (PMEGP) as has been revealed during the Zonal review meeting held in Guwahati on January 31 this year.
In this regard, Khadi and Village Industries Commission (KVIC) officials informed on Friday that in spite of several efforts made by agencies, the progress of the scheme was 8 percent approximately in previous financial year 2017-18.
An in depth deliberation on the issue was also held at the State Level Monitoring Committee (SLMC) meeting held on July 16, last year and also during a review of the PMEGP scheme and state level PMEGP workshop held on January 18.
“It was time and again requested to all bank representatives to take credit decision on all pending cases with bank branches,” the KVIC said.
The office of the KVIC had a meeting with all the bankers in all the five districts of Garo Hills and two districts of Jaintia Hills and requested all the bankers to take credit decision on all pending cases available with them under PMEGP before February 28, 2019.
The KVIC stated that Meghalaya has great potential and extending credit facilities to the needy unemployed youth shall not only make them self reliant but also create more employment opportunities for others who shall associate with the enterprise.
It was also informed that out of the 1006 proposals forwarded to the DLFTC in the state, 707 proposals are recommended by it to bankers and loans amounting to Rs 304.47 lakhs to 210 enterprises have been disbursed.
As on date 544 proposals are pending with different bank branches in the state, which include proposals of previous financial years too.
Meanwhile, the financing ratio of bank is 28 percent of total proposals received to them in the state.
The KVIC stated that the target for the financial year 2018-19 is 1061 projects involving margin money of Rs 2653.70 lakhs.
The achievement till date is only 19 percent in respect to the projects and 11.47 percent in respect to margin money in the state, which is very less, since the current financial years is coming to an end.
“All out effort needs to be made by all associated with the scheme to put the state to respectable position,” the KVIC said.
Who is eligible for Pmegp loan?
Individuals, who are above 18 years of age; the beneficiary individual must have studied and passed at least class 8 if they want to establish a manufacturing unit costing over Rs. 10 lakh or a service unit costing over Rs. 5 lakh with the PMEGP loan.
How do I apply for a Pmegp loan?
APPLICATION PROCEDURE FOR AVAILING ASSISTANCE UNDER PMEGP
The beneficiaries can also submit their application online at http://www.kviconline.gov.in/pmegp/pmegponlineapp and take the printout of the application and submit the same to respective offices along with Detailed Project Report and other required documents.
What are the latest guidelines for PMEGP subsidy adjustment in loan accounts?
1. Upon full/part disbursement of loan, Bank will put a claim for subsidy amount (between 15-35% of project cost) in the nodal office.
2. Upon receiving the subsidy amount, a FDR is made for subsidy amount for a period of 3 years on zero interest.
3. After completion of 3 years, subsidy amount is credited in the loan account.
4. If loan is irregular in the said period of 3 years, subsidy amount can also be adjusted against past dues.
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