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Ministry of MSME, through_____________, is implementing Prime Minister’s Employment Generation Programme (PMEGP) for assisting entrepreneurs in setting up of new units in the non-farm sector. It aims to provide employment opportunities to traditional artisans/ rural and urban unemployed youth at their doorstep.
  • a)
    Small Farmers' Agri-Business Consortium
  • b)
    Khadi and Village Industries Commission (KVIC)
  • c)
    NCDC
  • d)
    SIDBI
  • e)
    None of the above
Correct answer is option 'B'. Can you explain this answer?
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Ministry of MSME, through_____________, is implementing Prime Ministe...
Ministry of MSME, through Khadi and Village Industries Commission (KVIC), is implementing Prime Minister’s Employment Generation Programme (PMEGP) for assisting entrepreneurs in setting up of new units in the non-farm sector. It aims to provide employment opportunities to traditional artisans/ rural and urban unemployed youth at their doorstep.
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Ministry of MSME, through_____________, is implementing Prime Ministe...
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Introduction:
The Prime Minister’s Employment Generation Programme (PMEGP) is a scheme implemented by the Ministry of Micro, Small and Medium Enterprises (MSME) to support entrepreneurs in setting up new units in the non-farm sector. The program aims to provide employment opportunities to traditional artisans, rural and urban unemployed youth at their doorstep.

Implementing Body:
The correct answer is option B, which is the Khadi and Village Industries Commission (KVIC). KVIC is a statutory body established by the Government of India under the Khadi and Village Industries Commission Act, 1956. It is responsible for the planning, promotion, organization, and implementation of various programs and schemes for the development of Khadi and village industries in the country.

Purpose:
The PMEGP is an initiative aimed at promoting self-employment and entrepreneurship among the youth by providing financial assistance for setting up micro-enterprises. It focuses on generating employment opportunities in the non-farm sector, particularly in rural and semi-urban areas.

Key Features:
The PMEGP provides financial support to individuals, self-help groups (SHGs), institutions, and charitable trusts for starting new units in manufacturing, services, and trading activities. The key features of the scheme are as follows:

1. Loan Subsidy: Under PMEGP, the beneficiaries can avail of a subsidy of up to 35% (25% for general category and 35% for special categories like SC/ST/OBC/Women/Ex-servicemen/PH/Educationally backward classes) for the project cost in rural areas and 25% (15% for general category and 25% for special categories) in urban areas.

2. Project Cost: The maximum project cost for manufacturing units is Rs. 25 lakhs, and for service/trading units, it is Rs. 10 lakhs.

3. Employment Generation: The scheme aims to create sustainable employment opportunities by ensuring that each project provides employment to at least one person.

4. Margin Money: The beneficiaries are required to contribute a margin money of 5% of the project cost in the case of general category beneficiaries and 3% in the case of special category beneficiaries.

Role of KVIC:
The Khadi and Village Industries Commission (KVIC) is the nodal agency for implementing the PMEGP. KVIC plays a crucial role in the implementation of the scheme by providing financial assistance, technical support, and guidance to the beneficiaries. It also conducts training programs and workshops to enhance the entrepreneurial skills of the beneficiaries.

Conclusion:
The Prime Minister’s Employment Generation Programme (PMEGP) implemented by the Ministry of MSME through the Khadi and Village Industries Commission (KVIC) is an important scheme aimed at promoting self-employment and entrepreneurship in the non-farm sector. It provides financial assistance and support to traditional artisans, rural and urban unemployed youth, and other individuals to set up new units and generate employment opportunities. The scheme plays a significant role in the socio-economic development of the country by fostering entrepreneurship and reducing unemployment.
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Ministry of MSME, through_____________, is implementing Prime Minister’s Employment Generation Programme (PMEGP) for assisting entrepreneurs in setting up of new units in the non-farm sector. It aims to provide employment opportunities to traditional artisans/ rural and urban unemployed youth at their doorstep.a)Small Farmers' Agri-Business Consortiumb)Khadi and Village Industries Commission (KVIC)c)NCDCd)SIDBIe)None of the aboveCorrect answer is option 'B'. Can you explain this answer?
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