Pradhan Mantri Rozgar Yojana

Last Updated at: December 22, 2020
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Pradhan Mantri Rojgar Yojana
The government is aiming to create at least 50-60 lakh jobs by June 2021 in the formal sector. The Finance Minister announced this in November 2020. The Government has recently launched the Atma Nirbhar Bharat Rozgar scheme. The scheme would be operational till June 30, 2021. In 2016 the Centre launched a similar scheme called Pradhan Mantri Rojgar Protsahan Yojana (PMRPY). 

 

Pradhan Mantri Rozgar Yojana or PMRY is launched and initiated by the Central Government of India to implement sustainable self-employment chances and opportunities to 10 lakh educated unemployed students and women in India. Further, it was Launched in 1993, PMRY started this cause by extending the financial assistance in starting one’s business in trade, production, manufacturing, and services sectors.     

Advantages of Pradhan Mantri Rozgar Yojana

  • Pradhan Mantri Rozgar Yojana works aim to give financial assistance to the unemployed youngsters in the country by implementing self-employment possibilities.
  • Further, this system creates a bonus of up to 15% of the project cost on the obtained loans.
  • Moreover, the interest rates imposed on Pradhan Mantri Rozgar yojana are affordable and available to the borrowers.
  • Further, as per the PMRY scheme, one can acquire a maximum number of amount Rs. 5 Lakh.
  • Additionally, PMRY loan security varies from 3 years to 7 years.
  • Additionally, the advantages of PMRY plans can be obtained only when the beneficiaries have passed their 8th standard in education.

Pradhan Mantri Rozgar Yojana – Eligibility

Here are some eligibility criteria for the Pradhan Mantri Rozgar Yojana:

PMRY aims in the establishment of up to 7 lakh micro-enterprises through recruiting business and service ventures over two years plus six months. Moreover, Small Scale Industries (SSI) practices its idea to use local support. Further, technologies for prolific purposes and utilise the local business at the micro-level. Therefore, collateral for project amounts up to Rs.1 lakh

Age For all educated inactive and unemployed people between 18-35 years
Educational Qualification 8th standard – Pass
Interest Rate Additionally, the normal interest rate shall be priced
Compensation and Repayment Schedule Between 3 to 7 years after an introductory moratorium
Family Income The income of beneficiary along with wife/husband nor the income of parents shall exceed Rs. 40,000/month
Residence Moreover, permanent or citizen resident of the area for at least 3 years
Defaulter Should not be a defaulter to any nationalized financial bank/institution/ cooperative bank
Subsidy and Margin money Moreover, the subsidy will be restricted to 15% of the project cost subject to a ceiling of Rs. 7,500 per borrower
Reservation Further, weaker sections (STs/SCs), including women

 

get legal assistance 

Features of Pradhan Mantri Rozgar Yojana

Project Value Included under PMRY Scheme (Loan Amount)

Sector Project Cost in Rs
Business Sector 2 lakh
Service Sector 5 lakh
Industry Sector 5 lakh

 

  • PMRY is a centrally sponsored plan with repayment security from 3 years to 7 years
  • Further, practice and training are given to borrowers for 15-20 days to guarantee the setting up of their companies and businesses
  • Additionally, the primary body of this scheme is the development administrator (Small-Scale Industries). Moreover, Under the Ministry of Small Scale, Rural and Agro, companies and industries.
  • Likewise, Commissioner/Administrator of Industries executes the scheme at the state level except for the four metropolitan cities of the country
  • Further, each quarter, the State Level PMRY Committee controls the development of the scheme
  • Similarly, executing agencies of this scheme are the metropolitan cities of the country
  • Moreover, to increase their coverage areas of small fishing, piggery, tea gardens, poultry, and horticulture
  • Moreover, simple Equated Monthly Instalments (EMIs) for borrower’s business initialization

Relief Norms and Standards for North Eastern Region

  • Subsidy segment at 15% with a higher ceiling of Rs. 15,000
  • Moreover, assistance Qualification for project costing up to Rs. 2 lakh
  • Similarly, margin money may range from 5% to 12.5% of the design cost

What is the process on Pradhan Mantri Rozgar Yojana (PMRY) Loan?

Step 1

First, visit the official website portal of Prime Minister’s Rozgar Yojana 

pradhan Mantri

Step 2

Moreover, download the application form and fill it with all the complete details.

pradan mantri Doc 1

Pradan Mantri Doc 2

pradan mantri Doc 3

Step 3

Further, submit the properly filled form to the particular bank those which come under the PMRY scheme. Further, the concerned bank will get in touch with you.

Documents Required for PMRY

Copies of the following proofs and documents are required to use for Pradhan Mantri Rozgar Yojana (PMRY):

  • EDP Training certificate
  • Moreover, Driving License
  • Additionally, a copy of the Advanced Project Profile
  • Similarly, experience, eligibility, and technical certificates
  • Further, Residency proof for 3 years, ration card or any other evidence and proof of residency
  • Moreover, Proof of Date of Birth (SSC certificate or TC – Transfer Certificate from the school where studied)
  • Likewise, Income certificate announced by MRO (Mandal Revenue Officer)
  • Hence, Caste certificate declared by MRO, if suitable

 

 

0

Pradhan Mantri Rozgar Yojana

270
The government is aiming to create at least 50-60 lakh jobs by June 2021 in the formal sector. The Finance Minister announced this in November 2020. The Government has recently launched the Atma Nirbhar Bharat Rozgar scheme. The scheme would be operational till June 30, 2021. In 2016 the Centre launched a similar scheme called Pradhan Mantri Rojgar Protsahan Yojana (PMRPY). 

 

Pradhan Mantri Rozgar Yojana or PMRY is launched and initiated by the Central Government of India to implement sustainable self-employment chances and opportunities to 10 lakh educated unemployed students and women in India. Further, it was Launched in 1993, PMRY started this cause by extending the financial assistance in starting one’s business in trade, production, manufacturing, and services sectors.     

Advantages of Pradhan Mantri Rozgar Yojana

  • Pradhan Mantri Rozgar Yojana works aim to give financial assistance to the unemployed youngsters in the country by implementing self-employment possibilities.
  • Further, this system creates a bonus of up to 15% of the project cost on the obtained loans.
  • Moreover, the interest rates imposed on Pradhan Mantri Rozgar yojana are affordable and available to the borrowers.
  • Further, as per the PMRY scheme, one can acquire a maximum number of amount Rs. 5 Lakh.
  • Additionally, PMRY loan security varies from 3 years to 7 years.
  • Additionally, the advantages of PMRY plans can be obtained only when the beneficiaries have passed their 8th standard in education.

Pradhan Mantri Rozgar Yojana – Eligibility

Here are some eligibility criteria for the Pradhan Mantri Rozgar Yojana:

PMRY aims in the establishment of up to 7 lakh micro-enterprises through recruiting business and service ventures over two years plus six months. Moreover, Small Scale Industries (SSI) practices its idea to use local support. Further, technologies for prolific purposes and utilise the local business at the micro-level. Therefore, collateral for project amounts up to Rs.1 lakh

Age For all educated inactive and unemployed people between 18-35 years
Educational Qualification 8th standard – Pass
Interest Rate Additionally, the normal interest rate shall be priced
Compensation and Repayment Schedule Between 3 to 7 years after an introductory moratorium
Family Income The income of beneficiary along with wife/husband nor the income of parents shall exceed Rs. 40,000/month
Residence Moreover, permanent or citizen resident of the area for at least 3 years
Defaulter Should not be a defaulter to any nationalized financial bank/institution/ cooperative bank
Subsidy and Margin money Moreover, the subsidy will be restricted to 15% of the project cost subject to a ceiling of Rs. 7,500 per borrower
Reservation Further, weaker sections (STs/SCs), including women

 

get legal assistance 

Features of Pradhan Mantri Rozgar Yojana

Project Value Included under PMRY Scheme (Loan Amount)

Sector Project Cost in Rs
Business Sector 2 lakh
Service Sector 5 lakh
Industry Sector 5 lakh

 

  • PMRY is a centrally sponsored plan with repayment security from 3 years to 7 years
  • Further, practice and training are given to borrowers for 15-20 days to guarantee the setting up of their companies and businesses
  • Additionally, the primary body of this scheme is the development administrator (Small-Scale Industries). Moreover, Under the Ministry of Small Scale, Rural and Agro, companies and industries.
  • Likewise, Commissioner/Administrator of Industries executes the scheme at the state level except for the four metropolitan cities of the country
  • Further, each quarter, the State Level PMRY Committee controls the development of the scheme
  • Similarly, executing agencies of this scheme are the metropolitan cities of the country
  • Moreover, to increase their coverage areas of small fishing, piggery, tea gardens, poultry, and horticulture
  • Moreover, simple Equated Monthly Instalments (EMIs) for borrower’s business initialization

Relief Norms and Standards for North Eastern Region

  • Subsidy segment at 15% with a higher ceiling of Rs. 15,000
  • Moreover, assistance Qualification for project costing up to Rs. 2 lakh
  • Similarly, margin money may range from 5% to 12.5% of the design cost

What is the process on Pradhan Mantri Rozgar Yojana (PMRY) Loan?

Step 1

First, visit the official website portal of Prime Minister’s Rozgar Yojana 

pradhan Mantri

Step 2

Moreover, download the application form and fill it with all the complete details.

pradan mantri Doc 1

Pradan Mantri Doc 2

pradan mantri Doc 3

Step 3

Further, submit the properly filled form to the particular bank those which come under the PMRY scheme. Further, the concerned bank will get in touch with you.

Documents Required for PMRY

Copies of the following proofs and documents are required to use for Pradhan Mantri Rozgar Yojana (PMRY):

  • EDP Training certificate
  • Moreover, Driving License
  • Additionally, a copy of the Advanced Project Profile
  • Similarly, experience, eligibility, and technical certificates
  • Further, Residency proof for 3 years, ration card or any other evidence and proof of residency
  • Moreover, Proof of Date of Birth (SSC certificate or TC – Transfer Certificate from the school where studied)
  • Likewise, Income certificate announced by MRO (Mandal Revenue Officer)
  • Hence, Caste certificate declared by MRO, if suitable

 

 

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