The salient features of the programme that you must take into consideration are as under:
1. The Prime Minister’s Rozgar Yojana (PMRY) has been intended to offer employment to educated unemployed youth by setting up of micro enterprises by the educated unemployed poor. It narrates to the setting up of the self-employment ventures for industries, services and business in Rural and urban areas.
2. The scheme shelters all cultured youth with the smallest requirement of VIII Standard (passed).
3. Preference will be given to those who have been trained for any trade in Govt. recognized/approved institutions for duration of at least 6 months.
4. All educated unemployed youth between the age of 18 and 35 years on the date of receiving of request by the concerned DIC will be qualified for loan under the arrangement in general with a 10 years relaxation for SC/ST/Ex-servicemen/physically handicapped and women i.e. up to the age of 45.
5. The Income of the beneficiary along with the spouse or the income of parents of the beneficiaries shall not exceed Rs. 100,000 per annum.
6. All projects up to an expenditure of Rs. 2 lakh for business/service sector and Rs. 5 lakh for industry sector, loan to be of composite nature. Partnerships are also measured for projects up to Rs. 10 lakh subject to the extreme allowed up to the individual ceiling limits.
7. Self Help Groups can be considered for help under the scheme provided Educated Unemployed Youth fulfil the appropriateness criteria laid down under the scheme to volunteer to form.
It will be important for you to know that the SHG to set up self- employed schemes (Common Economic Activity).
1. No upper ceiling on project cost.
2. The subsidy ceiling for Self Help Group is Rs. 15,000 per beneficiary subject to a maximum of Rs. 1.25 lakh per SHG.
3. The exemption from collateral is restricted to Rs. 5.00 lakh per member of SHG to projects Under Industry sector and Rs. 2.00 lakh per member of SHG under service and business Sectors.
4. Essential margin money contribution (i.e. Subsidy and margin to be equal to 20% of the project cost) should be brought in by the SHG collectively.
i) 5% to 16.25% of the project cost to be carried as own contribution by the beneficiary.
ii) 15% subsidy on the project cost with a ceiling of Rs. 12,500 per beneficiary.
iii) All projects under Industries, Services, Business and Agriculture are qualified except direct agricultural activities like raising crop, purchase of manure etc.
iv) Beneficiaries are to undergo compulsory training organized by DIC.
v) Beneficiary should have been the resident of Puducherry for the previous three years.
vi) Reservation for SC/ST and OBC at 22.50% and 27% respectively.
vii) No collateral security is required under Industry Sector with project cost up to Rs. 5.00 lakh or partnership projects under Industries sector the exemption limit for abstention of collateral security will be Rs. 5.00 lakhs per borrower account. For units in Service and business sector no collateral for projects up to Rs. 2.00 lakh. Exemption from collateral in case of partnership projects will also be limited to an amount of Rs. 2.00 lakh per person participating in project.
viii) The exemption from collateral in respect of partnership projects in Industry sector will be Rs. 10 lakh per borrowal account in tiny sector.
