PNS|NAGARKURNOOL
Backward Classes, Tribal, Minority Welfare Officer Anil Prakash has appealed to the people to apply for loans under the Prime Minister’s Employment Generation Programme (PMEGP), aimed at giving support to the unemployed and prospective entrepreneurs.
At an awareness programme on obtaining loans under the PMEGP held at Collectorate, under the aegis of the Industries Department and Lead Bank in the district, here on Friday, he said that prospective entrepreneurs, aged 18 years and above, are eligible to secure a loan of Rs 25 lakh in the manufacturing sector and Rs 10 lakh under the scheme in the service sector through the banks.
The prospective entrepreneurs under the scheme belonging to the general category are entitled to bear 10 per cent of the project cost, while SC, ST, BC, minorities, women, ex-servicemen and physically challenged are required to pay only 5% of the project cost towards their share.
The KVIC will extend a subsidy of 15 per cent to the general category candidates belonging to urban areas and 25 per cent to the special category candidates. The subsidy component for general category and special categories belonging to rural areas would be 25% and 35% respectively.
Therefore, he appealed to the youth to apply. District Industries department official Hanumanthu said that the loan component varies from Rs 9.5 lakh to Rs 23.75 lakh to entrepreneurs of various categories. To start a service sector business, the entrepreneus should contribute from 5% to 10%, while the rest of the amount would be borne by the banks.
The prospective applicants to start a manufacturing unit should have studied up to 8th class. Societies registered under the Societies And Registration Act of 1860, charitable trusts, production cooperative organisations should provide documents.
