The Union Cabinet on Wednesday approved the continuation of a government scheme that is aimed at generating self-employment opportunities.
The Prime Minister's Employment Generation Programme's 12th plan period ended in March last year.
The cabinet chaired by Prime Minister Narendra Modi approved its continuation beyond the plan for three years from 2017-18 to 2019-20 with a total outlay of Rs 5,500 crore.
The programme generates these opportunities through establishment of micro-enterprises in the non-farm sector by helping traditional artisans and unemployed youth in rural as well as urban areas.
It is expected to create sustainable estimated employment opportunities for 15 lakh people in three financial years.
The Khadi and Village Industries Commission (KVIC) is the nodal implementation agency at the national level.
At the state and district level, state offices of KVIC, Khadi and Village Industries Boards (KVIBs) and District Industry Centres (DIC) are the implementing agencies.
Applications are invited and processed online through PMEGP's e-portal.
The entire process of application flow and fund flow right from receipt of application, processing, sanction by banks, transfer of margin money subsidy till creation of Term Deposit Receipt (TDR) in the name of applicant has been made online.
--IANS
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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