In a notable achievement, Jammu and Kashmir (J&K) has emerged as the top performer in providing employment opportunities under the Prime Minister’s Employment Generation Programme (PMEGP) for the past two years, as highlighted by MSME Minister Narayan Rane. The developmental strides in J&K post the abrogation of Article 370 in 2019 have contributed to the success of the PMEGP scheme in the region.
Unprecedented Development in J&K
Minister Narayan Rane emphasized the unprecedented pace of development in Jammu and Kashmir post the removal of Article 370. Under the leadership of Prime Minister Narendra Modi, J&K has excelled in generating employment through the PMEGP scheme for the last two years.
Empowering Youth Through Self-Employment
Rane highlighted that a significantly larger number of youth in J&K have achieved self-reliance through self-employment under the PMEGP scheme. In just two years, approximately 23,000 units received assistance with margin money amounting to about Rs 455 crore, resulting in the creation of more than 1.80 lakh self-employment opportunities.
PMEGP Overview
Launched in 2008, PMEGP facilitates loans of up to Rs 50 lakh for aspiring entrepreneurs to establish new manufacturing units and up to Rs 20 lakh for new service units. The scheme, extended over the 15th Finance Commission Cycle (2021-22 to 2025-26), has an outlay of Rs 13,554.42 crore.
National Employment Impact
As per the MSME Ministry’s Dashboard data, in the current financial year, 22,050 units have been assisted, leading to the creation of 1.76 lakh employment opportunities across India. Notably, J&K tops the employment tally with 29,808 opportunities, followed by Uttar Pradesh, Bihar, and Tamil Nadu.
This success underscores the positive impact of developmental initiatives in J&K and the effectiveness of the PMEGP scheme in fostering entrepreneurship and employment.
