The Government of India launched the Pradhan Mantri Rozgar Yojana (PMRY) to address unemployment by promoting self-employment among educated youth. It provides financial assistance in the form of loans to help aspiring entrepreneurs establish their businesses.
The Ministry of Labour and Employment introduced the Pradhan Mantri Rozgar Yojana in 1993 to support self-employment among educated unemployed youth in India. The scheme aims to create more job opportunities and empower young individuals by enabling them to become self-reliant.
The primary objectives of the PMRY scheme are:
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Some key aspects of PMRY include:
The project cost under PMRY varies based on the type of enterprise:
Applying for a loan under Pradhanmantri Rojgar Yojana involves the following steps:
Applicants need to submit the following documents to avail of the PMRY loan:
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Since its launch, PMRY has undergone several modifications to enhance effectiveness:
The latest updates and beneficiaries of the PMRY scheme 2025 can be accessed through the official government portals. These lists include the names of individuals who have successfully availed of the scheme along with loan details.
A dedicated committee monitors and ensures the smooth implementation of the PMRY scheme. The PMRY committee comprises representatives from state governments, banks, and employment offices to facilitate seamless loan disbursement and business establishment.
The Pradhan Mantri Rozgar Yojana (PMRY) empowers young entrepreneurs and reduces unemployment in India. By providing financial aid, subsidies, and skill training, PMRY has successfully transformed the lives of many individuals by enabling them to become self-sufficient business owners. With continuous improvements and modifications, the scheme remains a significant contributor to India’s economic growth.
Individuals aged 18-35 years (40 years for SC/ST, women, and disabled) with a minimum education qualification of 8th pass can apply.
Entrepreneurs can avail up to Rs. 1 lakh for business and Rs. 2 lakh for industrial/service sectors.
The loan needs to be repaid within 3 to 7 years, including the moratorium period.
Yes, the government provides a 15% subsidy on the project cost, up to a maximum of Rs. 7,500 per individual.
Applicants need to approach designated banks, submit the required documents, and undergo verification before loan sanction.
Currently, the loan application process is primarily offline, but some banks may offer online application facilities.
If an applicant fails to repay, the bank may take legal action and impose penalties as per the agreement.
Yes, the government provides training and skill development programs to ensure better business management for beneficiaries.
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