5,87,416 Employment Opportunities Created by 73,427 Projects During Year 2018-19

Union Minister for Micro, Small and Medium Enterprises Ministry and Road Transport & Highways Ministry, Shri Nitin Gadkari informed the Lok Sabha in a written reply that 5,87,416 employment opportunities were created by giving margin money subsidy of Rs. 2070 crore to 73,427 projects during the year 2018-19. The Ministry of MSME implements credit-linked subsidy scheme namely Prime Minister’s Employment Generation Programme (PMEGP) to promote self-employment opportunities through establishment of micro-enterprises in the non-agriculture sector.

He also added that Government of India also implements Pradhan Mantri MUDRA Yojana (PMMY) to provide collateral-free loans upto Rs 10 lakh.