Pradhan Mantri Rozgar Yojana (PMRY) was a government scheme in India aimed at promoting self-employment among educated unemployed youth. Please note that schemes and policies may be subject to updates, changes, or new iterations, and it’s advisable to check with official government sources for the latest information. Below are the key details about PMRY based on information available up to my last update:
Objective:
- PMRY aimed to provide financial assistance to educated unemployed youth for setting up small enterprises or businesses, thereby creating self-employment opportunities.
Implementing Agencies:
- The scheme was implemented by the District Industries Centers (DICs) in collaboration with other concerned agencies at the district level.
Financial Assistance:
- PMRY provided financial assistance in the form of a subsidy and bank credit. The subsidy component was intended to supplement the bank credit and varied based on the nature of the project.
Eligibility Criteria:
- Individuals in the age group of 18 to 35 years who were educated up to at least the 8th standard were eligible to apply.
- The annual family income of the beneficiary was considered for determining eligibility.
Nature of Projects:
- PMRY supported a wide range of economically viable and technically feasible projects in the manufacturing, service, and business sectors.
Subsidy Component:
- The subsidy amount under PMRY was a certain percentage of the project cost, subject to a maximum limit. This subsidy was intended to encourage entrepreneurship and make it easier for beneficiaries to establish their businesses.
Bank Loan:
- The financial assistance provided under PMRY included a bank loan component. The loan amount was determined based on the project cost and the contribution of the beneficiary.
Training Component:
- To enhance the entrepreneurial skills of the beneficiaries, training was an integral part of PMRY. Candidates were required to undergo skill development training before setting up their enterprises.
Application Process:
- Interested candidates could apply through the District Industries Centers (DICs) by submitting project proposals. These proposals were then scrutinized for technical and financial feasibility.
Monitoring and Implementation:
- The implementation and monitoring of the scheme were carried out at the district level. Regular follow-ups were conducted to ensure the successful establishment and functioning of enterprises.
It’s important to note that the information provided here is based on the status of the scheme as of my last update in January 2022. Given that government policies and schemes may undergo changes, I recommend checking with official government sources or the Ministry of Micro, Small and Medium Enterprises (MSME) for the latest and most accurate information regarding the Pradhan Mantri Rozgar Yojana (PMRY).