PM's Employment Scheme Creates 36 Lakh Jobs, Boosts Women Entrepreneurship

The Ministry of Micro, Small and Medium Enterprises' flagship scheme, implemented through the Khadi and Village Industries Commission (KVIC), continues to play a pivotal role in promoting entrepreneurship and employment generation across the country.

During the 15th Finance Commission cycle (FY 2021-22 to FY 2025-26), PMEGP has demonstrated robust performance, reaffirming its contribution to strengthening India's micro-enterprise ecosystem, said an official statement.

Against an approved budgetary outlay of Rs 13,554.42 crore, the scheme achieved full utilisation of funds and facilitated the establishment of 4,03,706 micro-enterprises, surpassing the target of 4,02,000 enterprises.

"This achievement reflects effective implementation and sustained demand for entrepreneurship-led initiatives," said the ministry.

PMEGP has also continued to promote inclusive development through targeted support to women and socially disadvantaged communities.

"Women beneficiaries account for nearly 40 per cent of the total micro-enterprises assisted under the scheme. Around 45 per cent of the total Margin Money subsidy disbursed has been provided to women entrepreneurs, encouraging women-led enterprises," the ministry informed.

About 54 per cent of the beneficiaries belong to SC/ST/OBC categories, highlighting the scheme's strong focus on social inclusion.

Notably, nearly 80 per cent of the enterprises established under PMEGP are located in rural areas, supporting rural industrialisation and balanced regional development.

By facilitating access to credit-linked subsidies and fostering entrepreneurship at the grassroots level, the scheme continues to contribute significantly to inclusive economic growth and the vision of self-reliant India.

PMEGP supports prospective entrepreneurs in establishing new micro-enterprises in the non-farm sector by providing Margin Money (MM) subsidy on bank loans.

- IANS