The Pradhan Mantri Rojgar Yojana was launched to provide employment to India’s youth. Under this scheme, unemployed youth can be provided with self-employment opportunities by providing them with loans from banks. For apply this scheme the age between 18 to 35 years old.
Financial assistance is also being provided to connect educated youth with employment through the Pradhan Mantri Rojgar Yojana. This scheme also provides subsidies on loans received by educated unemployed youth in cities and villages to start their own businesses.
Pradhan Mantri Rojgar Yojana
To provide employment to the educated youth of the country, a unique initiative has been started by the Central Government, named Pradhan Mantri Rojgar Yojana. Its primary goal is to provide financial assistance and training to young people to start their own businesses. This scheme not only helps address unemployment but also promotes economic development through small businesses.
The government also offers a 35% subsidy on loans. If you take out a loan of ₹1 lakh, you’ll only have to repay 65% ​​of the amount; the rest amout paid bt government. This scheme provides a strong support to the youth of the country towards economic independence, business success and employment generation.
Eligibility
- The beneficiary must be at least 18 years of age or older.
- The beneficiary must have passed at least the eighth grade.
- The family’s annual income must not exceed ₹40,000.
- The applicant must be a permanent resident.
- Not a defaulter of any bank or nationalized financial institution.
Documents Required for PM Rozgar Yojana
- EDP training certificate
- Driving license
- Copy of proposed project profile
- Qualification, experience, and technical certificates
- Date of birth proof (SSC certificate or TC from school where one studied)
- Proof of residence for three years, ration card, or any other residency proof
- Income certificate issued by the Mandal Revenue Officer (MRO)
- Caste certificate issued by the MRO if it is applicable
How to apply for Pradhan Mantri Rojgar Yojana
Step 1 : For registration visit the official website – https://pmrpy.gov.in/
Step 2 : Click on the PMRY application form for download.
Step 3 : Download the form and fill all the details.
Step 4 : Attached documents to the designated bank as indicated on the website
Step 5 : Once you have submitted the form and have complied with the documentary requirement the bank starts the loan approval process
Step 6 : After the bank scrutiny of the submitted documents is satisfied, the loan gets disbursed into your account
Step 7 : Banks have the right to call for any additional documents if they feel so
The main objective of the Pradhan Mantri Rojgar Yojana (PM Rojgar Yojana) is to make unemployed youth self-reliant and provide them with self-employment opportunities. This will reduce unemployment and make the youth self-reliant and promote economic development through small industries.
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