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.
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.
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.
- 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
- 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
3 to 7 years.
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.