New Delhi, If you also want to start your business, then with the help of the government, you can set up a big setup. For this, the central government is also providing you a loan of up to 50 lakhs. In such a situation, if you also want to start your own enterprise at a very low cost, then the central government can give you benefits ranging from taking loan to subsidy. Today we are going to give you complete information about this scheme.

The government is making efforts to increase the size of the Indian economy to $5 trillion by the year 2024. To make this dream come true, it is most important that small and medium scale businesses should be increased. Small entrepreneurs are being encouraged to start their own business under the Prime Minister's Employment Generation Program (PMEGP).

What Prime Minister's Employment Generation Program?
The Prime Minister's Employment Generation Program is a type of credit linked subsidy program, which is operated by the Ministry of Micro, Small and Medium Enterprises (MSME Ministry). Khadi Village Industry Commission Nodal Agency (KVIC) has been appointed as the nodal agency to implement this program. This scheme will be implemented through KVIC, KVIB and District Industries Center at the state level.

Extended plan for two years
The government has extended PMEGP till the year 2025-26. The Ministry of Micro, Small and Medium Enterprises (MSME) said that this scheme will create sustainable employment opportunities for 40 lakh people in five financial years. This scheme has been extended for the period of 15th Finance Commission i.e. from 2021-22 to 2025-26 for five years. PMEGP aims to provide employment opportunities to youth across the country through setting up of micro enterprises in non-agriculture sectors.

Loan will be available up to 50 lakhs
Along with extending the deadline of this scheme, some other amendments have also been made in it. Under this, the maximum project cost for a manufacturing unit has been increased from the existing Rs 25 lakh to Rs 50 lakh. At the same time, for the service unit, it has been increased from Rs 10 lakh to Rs 20 lakh.