Do you have any idea of the Pradhan Mantri Rozgar Yojana (PMRY Scheme)?
It is one of the key schemes of the Central Government of India to generate employment.
If you want to know about the PMRY Scheme, then this post is what you need to go through!
What is PMRY Scheme?
The Pradhan Mantri Rozgar Yojana is a plan that has been conceptualized to incentivize employers and come up with new employment.
Unemployment has become of the major problems in India. The number of unemployed youths is so high that it is not possible to employ all by the Government.
Considering this, the Government has implemented this PMRY Scheme. In turn, it creates more employment prospects. PMRY Scheme was earlier launched in 1993 and given a revamp in 2019.
Under PMRY Scheme, eligible candidates looking to do business and become self-employed will be financially supported.
How much loan can one get under the PMRY Scheme?
Under this Pradhan Mantri Rozgar Yojana plan, the maximum loan amount is fixed considering different regions. You can avail of a maximum loan amount of up to Rs.2 lakh for the manufacturing and service sector. It is Rs.5 lakh in the service and industry sectors. The loan amount is Rs.1 lakh for the business sector and Rs.10 lakh for working capital.
If you are at least the 8th standard passed, and if you and your family’s income (including spouse and parents) is up to Rs.40,000 per annum, you can apply for PMRY.
For general category applicants, you must be at least 18 years with a maximum age of 35 years. Women, Ex-Servicemen, Disabled and SC/ST candidates enjoy 10 years of relaxation.
If you want to apply for PMRY Scheme, then you must have lived continuously in a place for at least 3 years and more.
You should also not have availed any loan from a bank or defaulted on it.
You should also not have availed of any subsidy via any other launched scheme of the Government to become eligible to apply for PMRY.
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