Here we discuss information about pmry. It does not need to tell you PMRY stands for Pradhan Mantri Rozgar Yojna .Without wasting your time, we will discuss what it does and its benefits to the state. This statement is made because if you are here, you must be well aware of it, but if you still need an introduction.
So, let’s start.
What Does The PMRY Do?
Pmry launched in 1993 to proved self-employment to india,s educuted youth and women.This scheme offers subsidised finanical assistance to set up self-imployment vetures in the manufacturing,trading,and dervice sectors.
| PMRY – Features and eligibility conditions | |
| Age | For all literate people aged 18 to 35 years |
| Educational qualifications | 8th pass |
| Interest rate | Simple interest rate |
| time of payment | 3 to 7 years after moratorium period |
| family income | The total income of the beneficiary and the wife and her parents should not exceed Rs 40,000/month |
| Resident | Resident of that place for more than 3 years |
| Defaulter | Should not be a defaulter of any nationalized financial institution/bank/co-operative bank |
| Subsidy and margin money | Subsidy will be limited to 15% of the project cost. A maximum of Rs 7,500 per person. till |
| Mortgage | Rs 1 lakh There is no need to keep any deposit for projects up to Rs.. |
| Reservation | Dalit (SC/ST), Women |
Features of Prime Minister Employment Scheme
- PMRY is a scheme run by the central government
- Beneficiaries are given training for 15-20 days to ensure setup of their business
- The principal body of this scheme is the Development Commissioner under the Ministry of Small, Rural and Agro Industries
- Commissioner/Director of Industries implements this scheme at the state level except four metropolitan cities of the country.
- Every quarter, the state level PMRY committee examines the progress of the scheme.
- The implementing agencies of this scheme are metropolitan cities of the country
- To increase the areas of small tea gardens, pisciculture, poultry, piggery and horticulture.
- Easy Equated Monthly Installments (EMIs) for the beneficiary to start his/her business.
Changes in PMRY scheme
- The age limit for SC/ST and women has been increased from 35 years to 45 years.
- The educational qualification under the scheme has been reduced from 10th class to 8th class.
- The maximum limit of cost per project is also Rs 1 lakh. Increased from Rs 2 lakh. has been done till
- The scheme will cover agriculture and allied activities and include direct agricultural operations, such as manure and its procurement, crop cultivation, etc.
- Per group can get a maximum of Rs 5 lakh
- The age limit has been increased to 40 years in seven north-eastern states of India.
Documents required for PMRY
The following documents are required to apply for Pradhan Mantri Rojgar Yojana (PMRY):
- driving license
- EDP Training Certificate
- A copy of the proposed project profile
- Experience, Qualifications, and Other Certificates
- Proof of date of birth (SSC certificate or school TC)
- Proof of 3 years residence, ration card or other
- Income certificate issued by MRO (Divisional Revenue Officer)
- Caste certificate (if you want to avail the benefit of reservation)
Project amount to be covered under PMRY scheme
| Sector | project cost |
| business sector | ₹ 2 lakhs |
| service sector | ₹ 5 lakh |
| industry sector | ₹ 5 lakh |
How to apply for PMRY
Step 1: Visit PMRY website
Step 2: Download the application form and fill the correct information in it
Step 3: Submit the form to the bank that comes under PMRY, after which the concerned bank will contact you.
Related Questions (FAQs)
Question. What is the age requirement for Pradhan Mantri Rozgar Yojana (PMRY)?
Answer: The minimum age of the applicant should be 18 years and maximum 35 years. If the applicant is from North-Eastern states then the maximum age is 40 years and for SC/ST category the age limit is 45 years.
Question. What is the minimum educational qualification for nomination under PMRY?
Answer: The minimum educational qualification for this is 8th class.
Question. Is there any requirement to deposit any security/collateral?
Answer: Rs 1 lakh. Security/Guarantee is not required for projects up to Rs.
Question. How much is the subsidy given under PMRY?
Answer: The subsidy given under PMRY is 15% of the project cost, subject to a maximum of Rs 7500.
Question. What should be the income of the applicant for PMRY?
Answer: For PMRY, the annual family income of the applicant should be Rs 40,000. Should not exceed.
Question. What is the payment schedule under PMRY?
Answer: The applicant can make the payment between 3 to 7 years after the initial moratorium period.
Question. For how long is training provided to borrowers?
Answer: Training is provided for 15-20 days to ensure that their businesses get settled and up and running.