News Brief | October 2013
Govt allocates Rs 8,060 cr to set up 5 lakh projects
The government said it has allocated Rs 8,060 crore, under Prime Minister's Employment Generation Programme (PMEGP), to set up 5 lakh projects, creating over 35 lakh jobs during the 12th Plan period (2012-17). The scheme aims at generating employment through setting up of micro enterprises, including rural industrial units. Under the PMEGP, urban and rural entrepreneurs in the general category can avail a subsidy of 15 per cent and 25 per cent on the project cost. In the case of weaker sections of society, a 25 per cent and 35 per cent subsidy is provided to urban and rural businessmen. So far, the government has released Rs 5,251 crore under the scheme and more than 2.2 lakh projects have been assisted, providing jobs to an estimated 20.42 lakh persons.