Jitan Ram Manjhi Releases ₹1,000 Crore PMEGP Subsidy to Support 11,333 New Micro Enterprises
Union Minister for Micro, Small and Medium Enterprises Jitan Ram Manjhi on Wednesday released ₹1,000 crore in Margin Money (MM) subsidy under the Prime Minister’s Employment Generation Programme...
Union Minister for Micro, Small and Medium Enterprises Jitan Ram Manjhi on Wednesday released ₹1,000 crore in Margin Money (MM) subsidy under the Prime Minister’s Employment Generation Programme (PMEGP) to support 11,333 beneficiaries setting up new micro-enterprises across India.
The subsidy was released at a special function organised by the Ministry of MSME at Kartavya Bhawan-3, New Delhi. The event was attended by Shobha Karandlaje, Minister of State for MSME; Bharat Khera, Secretary, Ministry of MSME; senior Ministry officials; the CEO of the Khadi and Village Industries Commission (KVIC); the CMD of the National Small Industries Corporation (NSIC); and representatives from the Office of the Development Commissioner (MSME).
PMEGP is a flagship credit-linked subsidy programme of the Government of India aimed at creating sustainable self-employment opportunities through the establishment of new micro-enterprises in the non-farm sector. The Ministry of MSME administers the scheme, which is implemented nationally by KVIC with support from other designated implementing agencies, including KVIBs, District Industries Centres and the Coir Board.
Under the scheme, aspiring entrepreneurs receive financial assistance in the form of MM subsidy on bank-sanctioned project loans to set up new micro-enterprises. KVIC field offices and implementing agencies also provide awareness generation, handholding, capacity building, market linkages, monitoring and post-establishment support to promote long-term enterprise sustainability and growth.
PMEGP Generates 75 Lakh Employment Opportunities Since FY 2014-15
Since FY 2014-15, PMEGP has facilitated the establishment of more than 8.38 lakh micro-enterprises through bank-sanctioned loans exceeding ₹70,000 crore and MM subsidy of over ₹25,193 crore. The programme has generated approximately 75 lakh sustainable employment opportunities across the country.
Nearly 80% of the assisted units have been established in rural areas. Nearly 50% of the beneficiaries belong to SC, ST and OBC categories, while around 40% of the enterprises are owned by women entrepreneurs.
These achievements reflect the scheme’s focus on social inclusion, women-led development and the empowerment of disadvantaged sections of society.
₹1,000 Crore Subsidy to Support 11,333 Beneficiaries
The latest release of ₹1,000 crore in MM subsidy will facilitate support to 11,333 beneficiaries. They have received bank-sanctioned project loans amounting to approximately ₹3,260 crore to establish new micro-enterprises across various sectors.
The enterprises being established under this tranche are expected to generate more than 1.02 lakh sustainable employment opportunities, primarily in rural areas across the country.
The assistance is targeted at promoting women-led entrepreneurship and gender-inclusive growth, socially inclusive development, particularly among SC and ST communities, and balanced regional development, with a special focus on the North Eastern Region (NER) and Aspirational Districts.
PMEGP Supports 25,895 Micro Enterprises in FY 2026-27
During FY 2026-27, before the latest release, PMEGP had supported 25,895 micro-enterprises with MM subsidy amounting to ₹794.52 crore up to October 2026.
With the release of the additional ₹1,000 crore subsidy tranche, the scheme is expected to further accelerate entrepreneurship development and employment generation across the country, strengthening the Government’s vision of building a self-reliant, inclusive and employment-oriented economy.
Government Reaffirms Support for Grassroots Entrepreneurs
Speaking at the event, Manjhi emphasised the critical role of micro-enterprises in driving economic growth, fostering innovation and generating livelihoods at the grassroots level.
He reiterated the Government’s commitment to ensuring that aspiring entrepreneurs, particularly those from rural areas, women, Scheduled Castes, Scheduled Tribes, Other Backward Classes and economically weaker sections, receive adequate institutional support to transform their entrepreneurial aspirations into successful enterprises.
-PIB inputs
The post Jitan Ram Manjhi Releases ₹1,000 Crore PMEGP Subsidy to Support 11,333 New Micro Enterprises appeared first on DD India.
No Comment! Be the first one.