The Ministry of Micro, Small and Medium Enterprises (MSME) initiative PMEGP has provided financial assistance to over 8 lakh micro entrepreneurs since FY 2014-15, fostering self-employment and employment opportunities. The scheme plays a crucial role in promoting self-employment by enabling the establishment of new micro-enterprises in rural and semi-urban areas.
Under the Pradhan Mantri Mudra Yojana – Prime Minister's Employment Generation Programme (PMEGP), implemented by the Khadi and Village Industries Commission (KVIC), prospective entrepreneurs in rural and semi-urban areas have been supported with Margin Money (MM) subsidies on bank-sanctioned loans. Since its inception, around 8.12 lakh micro entrepreneurs have received such assistance to the tune of Rs. 24,398.61 crore.
The success of PMEGP is best reflected in the inspiring journeys of its beneficiaries. One such successful example is Smt. Pooja Sharma's Skinkaanti Ayurveda, based in Parwanoo, Himachal Pradesh.
Established with a project cost of Rs. 25 lakh and supported by State Bank of India, the enterprise today records an impressive annual turnover of Rs. 30 crore and provides employment to 300 individuals, of which 95% are women. By blending Ayurvedic principles with modern scientific techniques, the unit has achieved significant technological breakthroughs, including improved manufacturing efficiency and cost reduction, while supplying products across India through diverse retail and institutional channels.
Another success story is that of Shri Surender Pal Singh Nagi's M/s Ess Pee Quality Products in Mohali, Punjab. With an initial project cost of Rs. 21 lakh financed by Bank of Baroda, the unit has grown into a Rs. 38 crore turnover business, generating employment for around 130 individuals. The enterprise manufactures honey, cookies, and fruit jams and exports to 26 countries, including the USA, Australia, and France.
Source:
Press Information Bureau
