Prime Minister's Rozgar Yojana (PMRY)

- The scheme (PMRY) was launched on October 2, 1993 and initially was in operation in Urban areas.
- From April 1,1994, the scheme is being implemented throughout the country.
- It was proposed to establish 7 lakh tiny units in Industry, Service and Trade areas and to create about 10 lakh employment opportunities during the 8th Plan period.
- During 9th plan period the scheme has been confined in the revised form by the government. Under this scheme every selected educated unemployed youth in the age group of 18-35 years and having family income below Rs. 40,000 was provided a loan of upto Rs. 1 lakh for opening his own enterprise
and Rs.2 lakh for other activities.
- Projects involving two or more than two partners were given a loan upto Rs. 10 lakh. Under this scheme, 15% of the total project cost (maximum Rs. 15,000) was given to the beneficiary as subsidy. 5% of equity was supposed to be invested by the beneficiary himself and the remaining cost of the project was to be financed by the concerned bank.
- The entrepreneurs of these tiny units were provided adequate training and also given assistance of raw material and marketing, if required.
- Self Help Groups (SHGs) were considered eligible for financing under the Prime Minister's Rozgar Yojana (PMRY) effective from December 8, 2003 (terms modified on July 30,2004).