NEW DELHI: The government announced on Monday that the Prime Minister's Employment Generation Programme has been authorised for continuation until the financial year 2025-26, with a total outlay of Rs 13,554.42 crore.
According to the ministry of micro, small and medium businesses, the initiative will offer long-term employment prospects for around 40 lakh people over the next five years. The scheme will be extended for five years, from 2021-22 to 2025-26, under the 15th Finance Commission Cycle.
PMEGP aims to help young people around the country create jobs by aiding them in establishing micro businesses in non-agricultural areas. Along with the increase of the time frame, certain significant changes to the present plan have been implemented.
For the PMEGP, the definitions of village industry and rural area have been changed, with areas under Panchayti Raj institutions being considered as rural areas and those under municipal corporations being counted as urban areas.
Regardless of whether they are in the rural or urban category, all implementing agencies are entitled to receive and handle applications. PMEGP applicants from aspirational districts and transgender people would be considered special category applicants and will receive a greater subsidy.
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