Dec 15 : The Punjab Khadi and Village Industries Board (PKIVB) would provide self employment through sustainable industrial units to the rural youth of the state under Prime Minister Employment Generation Programme (PMEGP).
Launching this programme in Punjab, today, the Chairman of PKVIB, Mr. Vijay Sampla said that the subsidy would be provided to approximately 400 units with a target of providing an overall employment base to over 4019 rural people in the state. He said that the upper limit of disbursement would be 25 lakhs to any potentially viable enterprise.
Mr. Sampla said that no educational qualification or pre condition is required for availing subsidy upto 10 lakh rupees in case of a manufacturing unit and of 5 lakh rupees for a business or service unit. For enterprise seeking higher project cost, minimum 8th class pass persons can apply and seek subsidy under PMEGP. Priority in disbursement would be given to SC, OBC, minorities, physically handicapped persons, ex-servicemen and women.
The financial institutions that have been chosen for disbursement, includes 27 nationalised banks, all regional rural banks and cooperative and private banks. The borrower has to undergo Entrepreneur Development Training Programme for 3 weeks to be organized by an approved agency of KVIC.