PMEGP, MYSY,PMFME

PMEGP supports micro-enterprises with credit-linked subsidies. MYSY offers financial aid for higher education to Gujarat students. PMFME promotes micro food processing units, enhancing competitiveness and support with financial, technical, and capacity-building assistance.

Click here

What is PMEGP, MYSY,PMFME

  • PMEGP (Prime Minister’s Employment Generation Programme): A credit-linked subsidy scheme in India that promotes self-employment by providing financial assistance to set up new micro-enterprises in the non-farm sector. It aims to generate employment opportunities in rural and urban areas.

  • MYSY (Mukhyamantri Yuva Swavalamban Yojana): A scholarship scheme in Gujarat, India, offering financial support to meritorious students from economically weaker sections for higher education, aiming to improve their educational opportunities and career prospects.

  • PMFME (Prime Minister Formalisation of Micro Food Processing Enterprises): A scheme to enhance the competitiveness of micro food processing enterprises by providing financial, technical, and business support, fostering formalization, and promoting entrepreneurship in the food processing sector.

PMFME Scheme - Full Form, Eligibility and Benefits

The Indian food processing industry caters to a wide variety of food products. There are around 25 lakh food processing units in the unorganised food processing sector in our country, contributing 74% of employment in the food processing sector. These unorganised sectors have been facing a large number of challenges for a long time. 

To address this issue, the Government of India, through the Ministry of Food Processing Industry (MoFPI), launched the PMFME scheme. Keep reading to learn the PMFME full form, benefits, eligibility and other details you need to know about this scheme.

PMFME Scheme Details

The PMFME full form is the Pradhan Mantri Formalisation of Micro Food Processing Enterprises scheme. It is a one-stop solution to formalise the Indian food sector. The Ministry of Food Processing implements this scheme with the aim of supporting the ‘Vocal for Local’ campaign. 

The PMFME scheme was launched under Atmanirbhar Bharat Abhiyaan in 2020 for 5 years from 2020-21 to 2024-25. It aims to increase the existing micro-enterprises operating in the food processing industries in the unorganised segment and formalise them with a special focus on supporting Farmer Producer Organizations (FPOs), producers cooperatives and Self-Help Groups (SHGs) engaged in the agri-food processing sector.

It is a centrally sponsored scheme with an outlay of Rs.10,000 crores for 5 years. The expenditure will be shared by the central government and the state governments in a ratio of 60:40. In  North-Eastern and Himalayan states, the ratio of share by the central government and state government is 90:10. 

MYSY (Mukhyamantri Yuva Swavalamban Yojana):

Full Form: Mukhyamantri Yuva Swavalamban Yojana

Eligibility:

  • Applicants must be residents of Gujarat, India.
  • Students must have passed Class 12 from a recognized board in Gujarat with a certain percentage criterion.
  • Family income should not exceed a specified limit.

Benefits:

  • Financial assistance in the form of scholarships for pursuing higher education in recognized institutions.
  • Support for tuition fees, exam fees, and other educational expenses.
  • Encouragement for meritorious students from economically weaker sections to pursue professional courses and degrees, enhancing their career prospects.

PMEGP Scheme Details

PMEGP (Prime Minister’s Employment Generation Programme) is a credit-linked subsidy scheme in India that promotes self-employment by providing financial assistance to set up micro-enterprises. Eligible individuals, SHGs, institutions, and existing units not availing other subsidies can benefit. It offers margin money subsidies up to 35%, fostering entrepreneurship and employment in both rural and urban areas.

PMEGP (Prime Minister's Employment Generation Programme)

Full Form:

Prime Minister’s Employment Generation Programme

Eligibility:

  1. Individuals:

    • Must be at least 18 years old.
    • No minimum educational qualification required for loans up to ₹10 lakh.
    • For loans above ₹10 lakh in the manufacturing sector and above ₹5 lakh in the service sector, at least a standard VIII pass is required.

PMEGP Scheme Details

PMEGP (Prime Minister’s Employment Generation Programme) is a credit-linked subsidy scheme in India that promotes self-employment by providing financial assistance to set up micro-enterprises. Eligible individuals, SHGs, institutions, and existing units not availing other subsidies can benefit. It offers margin money subsidies up to 35%, fostering entrepreneurship and employment in both rural and urban areas.

Frequently Asked Questions

PMEGP stands for Prime Minister’s Employment Generation Programme, aimed at promoting self-employment through micro-enterprises.

Individuals above 18 years old, with specific educational qualifications depending on the project, are eligible.

Mukhyamantri Yuva Swavalamban Yojana (MYSY) is a scholarship scheme in Gujarat for students pursuing higher education.

Students who have passed Class 12 from Gujarat Board with a certain percentage and family income criteria.

Students who have passed Class 12 from Gujarat Board with a certain percentage and family income criteria.

It covers tuition fees, exam fees, and other educational expenses for eligible students.

PMFME stands for Prime Minister Formalisation of Micro Food Processing Enterprises Scheme, aimed at promoting food processing businesses.

 

Micro food processing enterprises seeking formalization and growth support.

Students who have passed Class 12 from Gujarat Board with a certain percentage and family income criteria.

Information can be obtained from official government websites or designated offices handling these schemes.