CHANAKYA GROUP OF ECONOMICS

By- Gobind RawatDetailed analysis of PMRY-20

1. AGE 18-35

2. EDUCATION 8th

3. Project 1-2 lac

4. Subsidy - 15%

-2020

PMRY (Prime Minister’s Rozgar Yojana) is initiated by Central Government of

India to provide sustainable self-employment opportunities to ten lakh

educated unemployed youth and women in India

offers financial assistance in starting one’s own enterprise in trade, manufacturing, and and services sectors.

Pradhan Mantri Rozgar Yojana

PMRY – Eligibility

Age For all educated unemployed people between 18-35 years

Educational Qualification 8th standard – Passed

Interest Rate Normal interest rate shall be charged

Repayment Schedule Between 3 to 7 years after an initial moratorium

Family IncomeIncome of beneficiary along with spouse nor the income of parents shall exceeds Rs. 40,000/month

Residence Permanent resident of the area for at least 3 years

DefaulterShould not be a defaulter to any nationalized financial institution / bank / cooperative bank

Subsidy and Margin moneySubsidy will be limited to 15% of the project cost subject to ceiling of Rs. 7,500 per borrower

Collateral No collateral for project up to Rs.1 lakh

Reservation Weaker sections (SCs/STs), including women

•The upper age limit has been raised by 10 years beyond 35 years for

SCs/STs and women

•Educational qualifications for eligibility under the scheme has been

reduced to 8th class from 10th class

•The upper limit of project cost has also been increased from Rs. 1 lakh to

Rs. 2 lakh

•The scheme will cover agriculture and allied activities and exclude direct

agricultural operations, such as manure and its purchase, raising crop, etc.

•Group financing eligibility up to Rs. 5 lakh

•The upper age limit increased up to 40 years in seven North Eastern States

of India

Main features of PMRY 2020

•Training provided to borrowers for 15-20 days to ensure the setting up of

their businesses

•Primary body of this scheme is Development Commissioner (Small-Scale

Industries) under Ministry of Small Scale, Rural and Agro, Industries

•To expand their coverage areas of small tea gardens, fishing, poultry,

piggery and horticulture

•Easy Equated Monthly Instalments (EMIs) for borrower’s business

initialization

Sector Project Cost

Business Sector Rs. 2 lakh

Service Sector Rs. 5 lakh

Industry Sector Rs. 5 lakh

Project Cost Covered under PMRY Scheme

1. 1.70 lac crore

2. Free lpg for 3 months

3. 50 lac insurance.

4. 125 days employment.

CHANAKYA GROUP OF ECONOMICS

By- Gobind RawatDetailed analysis of PMGKRY-20

2020 coronavirus pandemic

During the COVID-19 pandemic in India, Finance Minister announced a ₹1.70 Lakh Crore($24 billion) relief package under Pradhan Mantri Garib Kalyan Yojana for the poor.•₹500 each to 19.86 crore women Jan Dhan account holders•LPG cylinders to be provided to 8 crore poor families for the next three months free of cost.•₹1,000 for senior citizens to tide over difficulties during next three months.•Rs 50,000-Crore in Garib Kalyan Rojgar Abhiyan For returnee migrant workers.

CHANAKYA GROUP OF ECONOMICS

By- Gobind RawatDetailed analysis of PMRY-20

1. AGE 18-35

2. EDUCATION 8th

3. Project 1-2 lac

4. Subsidy - 15%