PMEGP Telangana – Government of Telangana offering PMEGP loans upto 25 Lakhs for Unemployed youth…..
A number of India’s social schemes have popped up over the last couple of years to look into the needs of citizens. After all, everyone is unique and proficient in their own way, and some need a lending hand from the schemes to change their lives for the better. Every now and then, new schemes emerge from the Indian government through the Ministry of MSME (Micro Finance), all aimed at making sure citizens succeed in life. One of the most notable schemes at the moment is the Prime Minister Employment Generation Programme (PMEGP).
Telangana government decided to give loans for about 1 Lakh unemployed youth under the Prime Minister’s Employment Generation Programme (PMEGP). About 10 thousand youth will be selected from each district under this scheme. Under this scheme government cleared the hurdles for receiving online applications and also made the procedures for immediate sanctions. For this government already instructed the concerned officers to chalk out the plans.
The scheme will be implemented by the District Industries Centre (DIC), Khadi Village Industries Commission (KVIC) and Khadi and Village Industries Boards (KVIB). As already the Telangana government started the state job recruitment now it is also trying to tap the PMEGP scheme to help the youth of the state.
A maximum financial assistance of Rs.25 lakh and a minimum of Rs.5 Lakhs would be extended through banks for ventures. All the Prospective entrepreneurs under the general category can avail 25 per cent of the project cost as subsidy. All the applicants from SC / ST, MBC, minorities, ex-service personnel and differently abled categories, 35% subsidy will be given. Unlike the past, the government now wants to give the subsidy as soon as possible without any delays.
Documents Needed to Apply for a PMEGP Telangana Loan
If you meet the eligibility criteria, you can move on to the next step, which is the application part. To have a smooth ride, below is a list of documents you need to apply for a PMEGP Telangana loan.
- Caste or community certificate.
- Aadhaar card
- PAN card
- Total cost of the project including a break-up of the working capital requirements and capital expenditure
- Special category certificate, if needed
- Authorization letter
- Rural area certificate
- Certificate from the controlling office of the bank clearly outlining the need for working capital
- A claim to the appropriate subsidy
PMEGP Loan Telangana Notification will be released on 28th
A notification related to this will be released by the government on 28th of this month. All the applications must be submitted through online. The selection will be completed within a month span. All the subsidies to the concerned projects will be released in two months. Manufacturing units will be given higher loans and there will be support from government for their business improvement. Government also instructed the banks to provide loans as per the prescribed time duration.