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Prime Minister’s Rozgar Yojana (PMRY)
- The scheme was launched on October 2, 1993 and initially was in operation in Urban areas From April 1, 1994, the scheme is being implemented throughout the country.
- Under this scheme every selected educated unemployed youth in the age group of 18 – 35 Years and having family income below Rs 40,000 is provided a loan of up to Rs 1 lakh for opening his own enterprise and Rs 2 lakhs for other activities.
- Projects involving two or more than two partners may be given a loan up to Rs 10 lakhs. Under this scheme, 15% of the total project cost (maximum Rs 15,000) is given to the beneficiary as subsidy. 5% of equity is to be invested by the beneficiary himself and the remaining cost of the project is financed by the concerned bank.
- The entrepreneurs of these tiny units are provided adequate training and also given assistance of raw material and marketing, if required.
- Micro – enterprises from commercial sector should not comprise more than 30 percent. This scheme is being administered by Union Industry Ministry. SC/ST and other backward classes have been given reservation of 22.5% and 27% respectively.