Prime Minister Rozgar Yojana (PMRY)
Prime Minister Rozgar Yojana (PMRY) Scheme was initiated by the Central Government of India with the objective to employ millions of educated youth by establishing 7 Lakh micro enterprises. The execution of this PMRY Scheme is managed by the Directorates of Industries and District Industries Centers (DIC).
Prime Minister Rozgar Yojana (PMRY) is introduced by the Pradhan Mantri of the country to reduce the unemployment level in India. Candidates who want to apply for Prime Minister Rozgar Yojana (PMRY) need to check application process, PMRY Scheme Details from here.
Prime Minister Rozgar Yojana Application:
Prime Minister of India announced PMRY Scheme for giving self-employment to learned unemployed Youth in the country on 15th August, 1993. This plan is to give self-employed breaks to one million unemployed educated young people in the country.
This Loan Scheme is called as Pradhan Mantri Rozgar Yojana. This scheme has been formally started in India, on 2nd October, 1993. You may also apply online for Prime Minister Rozgar Yojana after going through essential details provided on this page of www.recruitmentinboxx.com
Prime Minister Rozgar Yojana
Subsidy Provided through Prime Minister Rozgar Yojana Scheme:
- Subsidy offered under Prime Minister Rozgar Yojana Scheme is limited to 15% of the project cost. This is further limited to Rs.12, 500 per entrepreneur.
- For the North-Eastern Regions, Himachal Pradesh, Uttaranchal and Jammu & Kashmir regions, the limit is extended to Rs.15, 000. Self-help Groups can also avail subsidies of up to Rs.15, 000 per beneficiary.
- This is limited to Rs.1.25 lakhs per self-help group.
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Features of the PMRY Scheme:
|Collateral||Collateral is a form of security, is not necessary for projects up to Rs.2 lakhs.|
|Rate of Interest||The rate of interest will differ based on the loan amount as per the guidelines provided by the government.|
|Moratorium Period||Under PMRY Scheme, there is a moratorium period, which allows the borrower to start earning money from his the venture before the repayment schedule begins.|
|Training||Training for the borrowers is provided to ensure that they can set up their business. The training is provided for 15 to 20 days.|
PMRY Eligibility Criteria:
- All unemployed educated youth can apply for the Prime Minister Rozgar Yojana (PMRY)scheme.
- The applicant must be a permanent resident.
- The age limit should be 18 years to 35 years.
- The age limit is extended to 40 years for people under SC/ST category , ex-servicemen, women, and physically handicapped people.
- Applicants must have passed 8th standard.
- The income of the family should be Rs.1 lakh per annum.
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Prime Minister Rozgar Yojana (PMRY) Reservation:
The scheme is reserved 22.5% for SC/ST candidates and 27% for Other Backward Classes (OBCs).
Branches from Where You Can Implement/ Apply for PMRY Scheme:
Any individual who are interested to take loan and want to attain or apply against this yojna may contact the nearest branch of any nationalized bank for detailed information. The District Industry Centres (DIC) and Directorate of Industries are mainly responsible for implementation of the Scheme along with the nationalized banks.
Benefits of PMRY:
The benefits of Pradhan Mantri Loan Scheme are that applicants can avail loan or monetary benefits through it and other subsidies also can be granted with the help of this scheme.
PMRY Scheme Application Procedure:
To apply for PMRY scheme, follow the steps below:
- The applicant has to visit the official website pmrpy.gov.in to apply for the PMRY scheme.
- Now choose suitable link to apply for Prime Minister Rozgar Yojana Scheme
- Then read the instructions regarding Prime Minister Rozgar Yojana (PMRY) Scheme.
- After reading relevant details you need to download format of Prime Minister Rozgar Yojana Scheme (PMRY) Application From and fill it with the required details.
- Now submit the form to the concerned bank which is included under the PMRY scheme.
- After submission of PMRY Application Form these applications will be approved by the concerned bank branches.
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The following documents are to be produced while submitting the Prime Minister Rozgar Yojana application from.
- Aadhar card.
- Educational qualification certificate.
- Passport size photograph.
- EDP Training certificate.
- Project report
Project Cost Covered under PMRY Scheme:
|Business sector||Rs. 2 lakhs|
|Service sector||Rs. 5 lakhs|
|Industry sector||Rs. 5 lakhs|
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Training Provided under Prime Minister Rozgar Yojana (PMRY) Scheme:
The training is provided under this scheme to each entrepreneur/ individual whose loan is sanctioned. And training is compulsory for entrepreneur. Training is provided to the particular individual as per details given below-
|For Industry Sector-||For Service & Business Sector-|
|Duration: 15 to 20 working days|
Stipend: Rs. 300/-
Training Expenditure: Rs. 700/- Per beneficiary
|Duration: 7 to 10 working days|
Stipend: Rs. 150/- Per beneficiary
Training Expenditure: Rs. 350/-
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Implementation of PMRY
Year-wise Target and Achievements:
|S. No.||Year||Target||Applications||Sanctioned||Disbursed||Nos. of Benef. Trained||Empl. Gen|
|1||1993 – 94||200||574||199||139||106.29||135||98.92||152||313|
|2||1994 – 95||300||1339||428||307||211.47||288||191.53||316||567|
|3||1995 – 96||550||1622||592||513||356.88||477||296.77||586||687|
|4||1996 – 97||550||1537||635||553||406.12||497||327.37||589||735|
|5||1997 – 98||550||1733||588||524||364.63||464||289.95||415||751|
|6||1998 – 99||550||1699||583||463||341.84||396||247.1||494||538|
|7||1999 – 00||550||2912||609||477||315.47||290||163.37||551||261|
|8||2000 – 01||600||3249||640||417||194.65||179||121.11||549||213|
|9||2001 – 02||2000||3591||1920||1466||977.305||1195||845.694||1714||1267|
|10||2002 – 03||300||3356||334||157||82.5||9||6.49||160||18|
|11||2003 – 04||* 1350|
|12||2004 – 05||* 1400|
Remarks – * Under Implementation
1 लाख आयुष्मान मित्रो की भर्ती: Ayushman Mitra Bharti
This Prime Minister Rozgar Yojana helps through the establishment of new self – employment ventures, projects, micro enterprises to introduce more jobs/ employment in the country’s rural and urban areas, so that unemployment should be reduces from the country along with providing self-employment opportunities to the rural and urban jobless youth who are engaged with the broadly detached traditional artisans.
The key element of this scheme is that the city or village educated unemployed youth / women are motivated to start their own business or industry. The lower rate of interest and loan in easy installments is allowed to settle.
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