The Cabinet Committee on Economic Affairs has approved augmentation of the existing outlay of Rs. 250 crore to Rs. 381 crore under Backward and Forward Linkages Component of Prime Minister`s Employment Generation Programme (PMEGP). This will meet residual liabilities of erstwhile Prime Minister`s Rojgar Yojana (PMRY) and Rural Employment Generation Programme (REGP) within the already approved overall plan outlay of Rs. 4735 crore for PMEGP.
There was a residual liability of Rs.132.76 crore under PMRY (including Rs. 122.76 crore as capital subsidy) and Rs. 72.95 crore as pending margin money claims under REGP, which could not be settled till 31 March 2008 as firm figures were not available till then. An amount of Rs. 205.71 crore will be incurred to settle these cases. This is within the overall approved outlay of PMEGP for the terminal four years of the XI Five Year Plan.
An estimated 1.73 lakh persons are expected to be benefited.
The pending liability of Rs. 122.76 crore for capital subsidy under the erstwhile PMRY will be released to RBl through KVIC in two installments of 50% each. RBI will ensure that a list of all beneficiaries is put on the website of the bank concerned. The requirement of Rs. 10 crore under training, contingency and motivational campaign of erstwhile PMRY will be released to KVIC in one installment and will be paid to the States concerned on reimbursement basis. The pending liability of Rs. 72.95 crore under the erstwhile REGP will be released to KVIC. The list of beneficiary units will be put on the website of KVIC.
Settlement of pending margin money claims of around 4600 residual cases under REGP and around 1.37 lakh residual cases under PMRY will benefit the projects financed prior to 31 March 2008. This will thus help towards sustainability of these units.
Background:
PMRY was launched in 1993 and REGP was launched in 1995. PMRY used to be implemented by State Directorate of Industries through banks and subsidy used to be released by Government of India through RBI. REGP used to be implemented by Khadi and Village Industries Commission (KVIC) and State Khadi and Village Industries Boards (KVIBs) and funds used to be released through KVIC. Both these schemes were merged into PMEGP w.e.f. 2008-09 for providing margin money assistance to entrepreneurs for setting up of micro-enterprises. PMEGP is implemented through KVIC, KVIBs and District Industries Centres (DICs) and funds are released through KVIC, the national nodal agency for the programme.
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