chanakya group of economics 1. age 18-35 2. education 8 · crore($24 billion) relief package under...
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CHANAKYA GROUP OF ECONOMICS
By- Gobind RawatDetailed analysis of PMRY-20
1. AGE 18-35
2. EDUCATION 8th
3. Project 1-2 lac
4. Subsidy - 15%
-2020
PMRY (Prime Minister’s Rozgar Yojana) is initiated by Central Government of
India to provide sustainable self-employment opportunities to ten lakh
educated unemployed youth and women in India
offers financial assistance in starting one’s own enterprise in trade, manufacturing, and and services sectors.
Pradhan Mantri Rozgar Yojana
PMRY – Eligibility
Age For all educated unemployed people between 18-35 years
Educational Qualification 8th standard – Passed
Interest Rate Normal interest rate shall be charged
Repayment Schedule Between 3 to 7 years after an initial moratorium
Family IncomeIncome of beneficiary along with spouse nor the income of parents shall exceeds Rs. 40,000/month
Residence Permanent resident of the area for at least 3 years
DefaulterShould not be a defaulter to any nationalized financial institution / bank / cooperative bank
Subsidy and Margin moneySubsidy will be limited to 15% of the project cost subject to ceiling of Rs. 7,500 per borrower
Collateral No collateral for project up to Rs.1 lakh
Reservation Weaker sections (SCs/STs), including women
•The upper age limit has been raised by 10 years beyond 35 years for
SCs/STs and women
•Educational qualifications for eligibility under the scheme has been
reduced to 8th class from 10th class
•The upper limit of project cost has also been increased from Rs. 1 lakh to
Rs. 2 lakh
•The scheme will cover agriculture and allied activities and exclude direct
agricultural operations, such as manure and its purchase, raising crop, etc.
•Group financing eligibility up to Rs. 5 lakh
•The upper age limit increased up to 40 years in seven North Eastern States
of India
Main features of PMRY 2020
•Training provided to borrowers for 15-20 days to ensure the setting up of
their businesses
•Primary body of this scheme is Development Commissioner (Small-Scale
Industries) under Ministry of Small Scale, Rural and Agro, Industries
•To expand their coverage areas of small tea gardens, fishing, poultry,
piggery and horticulture
•Easy Equated Monthly Instalments (EMIs) for borrower’s business
initialization
Sector Project Cost
Business Sector Rs. 2 lakh
Service Sector Rs. 5 lakh
Industry Sector Rs. 5 lakh
Project Cost Covered under PMRY Scheme
1. 1.70 lac crore
2. Free lpg for 3 months
3. 50 lac insurance.
4. 125 days employment.
CHANAKYA GROUP OF ECONOMICS
By- Gobind RawatDetailed analysis of PMGKRY-20
2020 coronavirus pandemic
During the COVID-19 pandemic in India, Finance Minister announced a ₹1.70 Lakh Crore($24 billion) relief package under Pradhan Mantri Garib Kalyan Yojana for the poor.•₹500 each to 19.86 crore women Jan Dhan account holders•LPG cylinders to be provided to 8 crore poor families for the next three months free of cost.•₹1,000 for senior citizens to tide over difficulties during next three months.•Rs 50,000-Crore in Garib Kalyan Rojgar Abhiyan For returnee migrant workers.
CHANAKYA GROUP OF ECONOMICS
By- Gobind RawatDetailed analysis of PMRY-20
1. AGE 18-35
2. EDUCATION 8th
3. Project 1-2 lac
4. Subsidy - 15%