Prime Minister Employment Scheme (PM Rojgar Yojana)

The Prime Minister Employment Scheme (PM Rojgar Yojana) is a significant government initiative to reduce unemployment and promote self-employment in the country. This scheme was initiated to make Indian youth self-reliant and provide employment opportunities.

Background of the Scheme

The Prime Minister Employment Scheme was initiated in 1993. The historical significance of this scheme lies in its contribution to the country’s development and its success in employing millions of youth.

Objectives of the Scheme

The main objective of this scheme is to reduce unemployment and promote self-employment. Under this scheme, youth are encouraged to start their businesses.

Eligibility Criteria for Beneficiaries

Age Limit

Applicants must be between 18 and 35 years of age to apply under the scheme. There is a relaxation in the age limit for specific categories.

Educational Qualification

Applicants must have at least passed the 8th grade. Additionally, they should possess the necessary skills and qualifications according to the nature of the business.

Other Necessary Criteria

Applicants must be Indian citizens and have an account in any nationalized bank.

Benefits Under the Scheme

Financial Assistance

Under the scheme, beneficiaries are provided financial assistance to start their businesses. This includes subsidized loans available at low interest rates.

Training and Development

Various training programs are organized under the scheme to impart entrepreneurial skills to beneficiaries.

Application Process

Online Application

The Prime Minister Employment Scheme application process has been made simple and convenient. Applicants can apply online on the official website.

Required Documents

Some essential documents are required for the application, such as identification proof, residential proof, educational certificates, bank account details, etc.

Deadline for Applications

The application deadline varies yearly, so applicants should regularly check the official website for updates.

Financial Support for the Scheme

Contribution from the Central Government

The financial support for this scheme primarily comes from the central government. The central government allocates a budget for this scheme and oversees its implementation.

Role of State Governments

State governments also play a crucial role in the implementation of this scheme. They assist in the promotion and selection of beneficiaries at the local level.

official visit site

Loans Available Under the Scheme

Loan Amount

Various types of loans are available under the scheme, depending on the nature of the business and the requirements. The loan amount can go up to Rs. 10 lakhs.

Interest Rate and Repayment Period

The loans provided under the scheme have very low interest rates and longer repayment periods, ensuring that beneficiaries do not face any difficulty.

Successful Examples Under the Scheme

Stories of Successful Entrepreneurs

Several youths have started their businesses under the Prime Minister Employment Scheme and have been successful. Their stories serve as inspiration for other youths.

Their Experiences and Suggestions

The experiences and suggestions of successful entrepreneurs serve as guidance for the younger generation. They explain how challenges can be overcome to achieve success.