PMEGP Loan Yojana 2023: PMEGP stands for the Prime Minister’s Employment Generation Programme. It is a credit-linked subsidy scheme launched by the Government of India to promote self-employment opportunities and generate sustainable employment in rural and urban areas. The PMEGP scheme combines the benefits of two earlier schemes, namely the Prime Minister’s Rojgar Yojana (PMRY) and the Rural Employment Generation Programme (REGP).
Under the PMEGP scheme, financial assistance is provided for setting up new micro-enterprises or expanding existing ones. The assistance is given in the form of bank loans and subsidies. The scheme is implemented by the Khadi and Village Industries Commission (KVIC), a statutory organization under the Ministry of Micro, Small, and Medium Enterprises (MSME).