The Ministry of Micro, Small and Medium Enterprises (MSME) has released ₹1,000 crore in Margin Money subsidy under the Prime Minister’s Employment Generation Programme (PMEGP). The funds were released by Union Minister for MSME Shri Jitan Ram Manjhi during a special function in New Delhi.
According to the Ministry, this financial support will assist 11,333 new beneficiaries in setting up micro-enterprises across various sectors. The release facilitates a bank credit of ₹3,260 crore and is expected to generate over 1.02 lakh sustainable employment opportunities, primarily in rural areas. PMEGP is a flagship credit-linked subsidy scheme implemented nationally by the Khadi and Village Industries Commission to promote grassroots entrepreneurship and self-employment.
What it means
- 11,333 beneficiaries will receive support through the ₹1,000 crore margin money subsidy release.
- Beneficiaries have received bank-sanctioned project loans amounting to approximately ₹3,260 crore.
Source
Press Information Bureau, Government of India, “Union Minister for MSME Shri Jitan Ram Manjhi releases ₹1,000 Crore Margin Money Subsidy under PMEGP to support 11,333 new Micro Enterprises across India”. Read the original release.
Summary of an official release for general information only. Not investment advice. Read the original source before acting on any information.
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