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Wanna start new venture! here is the government is to help you

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Are you quitting your job or are you preparing to quit and wants to start a new venture? Are you planning to take some loan!  then no need to worry here is your government giving you a new opportunity to start a new venture. Pradhan Mantri Rojgan Protsahan Yojana loan scheme is just designed for you.

now there is no need to move into big cities to hunt a new job. to encourage the younger educated population of India government came up with this new loan scheme. to avail this scheme you need not pay your past payslip to evaluate your credit score and other tedious procedures, just apply and you will get your loan. 
Who are eligible for (PMRPY)  Pradhan Mantri Rojgan Protsahan Yojana:
the main motto of the scheme is to provide financial assistance to the educated young youth of our country to start a new trade venture.
the applicant should be an Indian citizen and should be the resident of the permanent address at least for three years.
 the applicants should be the age of 18 to 35 years. for women applicant, physical handicaps and SC/ST 10 years age relaxation.
the applicants should have 8 pass certificate.
the total household income of the applicant including spouse is not more than 1 lakhs.
Candidate having training from government recognized trade institute will be given prior preference.

Activities covered under the scheme

  • All economically viable businesses are covered under this scheme.
  • Primary agriculture operations involving a direct relation to production or raising of crops like manure are not part of this scheme. However, agriculture businesses and allied activities are included.
  • Cost coverage

    The maximum amounts for various sectors are:

    • Business sectors: Rs.2 lakhs
    • Service sector: Rs.5 lakhs
    • Industry sector: Rs.5 lakhs
    • Partnerships- if two or more people are involved with the same business: Rs.10 lakhs.


    Collateral

    • For projects worth Rs 2 lakhs by single individuals from the business and service sector no collateral is required. Partners are exempt for Rs 2 lakhs each.
    • For Small Scale Industries (SSI), collateral is exempt for projects worth Rs 5 lakhs per person

    Subsidy

    • The subsidy is applicable to 15% of project cost which is limited to Rs 12,500 per individual.
    • Subsidy for North-Eastern states, Himachal Pradesh, Uttaranchal and Jammu & Kashmir regions is limited to Rs.15,000.
    • Self-help Groups can avail subsidies up to Rs.15,000 per beneficiary, limited to Rs.1.25 lakhs per group.

    Tenure & Training

    Tenure
    3 to 7 years.

    Training
    Training provided as a part of the scheme has to be undertaken. The expenses are born by District Industries Centers (DIC). The training will last 7 to 10 days for the business and service sector. It will be 15 to 20 days for the industrial sector.

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