Prime Ministers Rozgar Yojana

The gist of PMRY Scheme guidelines is given below

  1. Age
    All educated unemployed youth in the age group of 18-35 years in general (40 years for North-Eastern Region); 10-years relaxation in the age group for SC/STs, ex-servicemen, physically handicapped and women. i.e., up to the age of 45 years.
  2. Educational Qualification
    8th passed. Preference to be given to those who have been trained for any trade in Government recognised / approved institutions for a duration of at least six months.
  3. Family Income
    The income of the beneficiary along with that of his spouse and parents shall not exceed Rs.1,00,000/- p.a.
  4. Residence
    Permanent resident of the area for at least 3 years
  5. Defaulter
    Should not be a defaulter in any Nationalised bank / financial institutions. Further, a person already assisted under other subsidy-linked Government schemes would not be eligible under this scheme.
  6. Activities Covered
    All economically viable activities including agriculture and allied activities but excluding direct agricultural operations like raising crop, purchase of manure etc. are covered.
  7. Project Cost
    Ceiling on Project Cost is Rs.2 .00 lakh for Business sector and Rs.5.00 lakhs for Service and Industry Sectors. Loan to be of Composite nature i.e. both term loans and working capital. If two or more eligible persons join together in a partnership, projects up to Rs.10 lakhs can be covered. Assistance shall be limited to individual admissibility.
  8. Subsidy and Margin Money
    Subsidy will be limited to 15% of the project cost subject to a ceiling of Rs.12,500/- per entrepreneur (Rs.15,000/- for North-Eastern Regions, HP, Uttaranchal & J&K). Subsidy celing for SHGs is Rs.15,000/- per benificery subject to a maximum of Rs.1.25 lakhs per Self Help Group. Margin Money varies from 5% to 16.25% of the project cost so that the total of subsidy and margin money will be equal to 20% of the project cost.
  9. Collateral Security
    No collateral for projects up to Rs.2.00 lakh for service and business sector. In the case of partnership firms, exemption from collateral will also be limited to an amount of Rs.2.00 lakh per person participating in the project. However, under SSI, no collaterals for projects up to Rs. 5.00 lakhs for individuals, whereas in the case of partnership, no collaterals up to Rs. 5.00 lakhs per borrowal account.
  10. Rate of Interest and Repayment Schedule
    Rate of interest shall be charged based on the size of the loan as per the guidelines in force from time to time. Repayment schedule may range between 3 to 7 years after an initial moratorium as may be prescribed.
  11. Training
    The training is an integral part of the scheme and expenses are borne by DIC. For industry duration of training is 15 to 20 days and for business and service 7 to 10 days.
  12. Implementing Agency
    The District Industries Centres (DIC) and the Directorates of Industries along with the Banks are responsible for the scheme implementation.
  13. Sub Targets-Stipulation
    As per the scheme, coverage of SC/ST should be 22.5% and that of Other Backward Class (OBCs) 27%. However, preference should also be given to Weaker Sections including Women.
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