PRIME MINISTERS ROZGAR YOJANA (PMRY)

            ELIGIBILITY

Under the scheme a candidate shall qualify for assistance if he/she is: 

a)          Middle Pass. Preference will be given to those who have been trained for any trade in Government recognized/approved institutions for a duration of at least 6 months; 

b)          Permanent resident of the area for at least 3 years; 

c)           Between 18-40 years for general category, with a 10 years relaxation for SC / ST / Ex-Servicemen / Physically Handicapped and women; Preference should be given to weaker sections including women. The scheme envisages 22.5% reservation for SC/ST and 27% for OBCs . In case SC/ST/OBC candidates are not available, States/Uts Govt., will be competent to consider the other categories of candidates under PMRY. 

d)          Neither the income of the beneficiary along with the spouse nor the income of parents of the beneficiary shall exceed Rs.40, 000/- per annum; 

e)          The applicant should be unemployed and should not have drawn any loan from any bank/financing institution for setting up of a venture of his/her own.

 PROJECT COST 

Rs. 1.00 lakh for business sector. Rs.2.00 lakhs for other activities. Loan to be of composite nature. If two or more eligible persons join together in a partnership, project upto Rs.10.0 lakhs are covered. Assistance shall be limited to individual admissibility 

GOVERNMENT ASSISTANCE 

-                        Bank Loan

-                       15% Subsidy of the Project cost subject to the Maximum of Rs.15,000/- per entrepreneur;

-                        Banks will be allowed to take Margin Money from the entrepreneur varying from 5% to 12.50 % of the project cost so as to make the total subsidy and Margin Money equal to 20% of the Project Cost;

-             Interest Subsidy for two years on the bank loan drawn by the entrepreneur as under:

-)  During first 6 months                     100%

-)  One year after first 6 months           75%

-)  Next six months                               50%

This will be released as and when the claim is    received from the bank and shall not be paid on defaulted amount which will be responsibility of the entrepreneur. 

-                        No collateral for project upto Rs.1.00 lakh. Exemption from collateral in case of partnership project will be limited to an amount of Rs.1.00 per person participating in the Project; 

-                        The training expenses and operational expenditure to be covered within the ceiling of Rs. 2,000/- per case. The existing system of revising the scale of expenditure in consultation with the Finance for various activities and flexibility would be available to the implementing agencies of the State and Central levels subject to condition that over all training and operating expenses remain within the ceiling of Rs. 2000/- per cases sanctioned.

 -              Preference to weaker Sections and Women.

 (Contact person: General Manager, District Industries Centre of concerned District) 

Progress report J and K Prime Minister's Rozgar Yojana

(PMRY) for the year 2000-01, 2001-02, 2002-03,2003-04 and ending September,2005