Prime Minister Rozgar Yojana (PMRY)

Prime Minister Rozgar Yojana was initiated by the Central Government of India to financially assist the educated unemployed youth and women in the establishment of self-employment ventures. The implementation of this scheme is processed by the Directorates of Industries and District Industries Centers

(DIC). In this article, we look at the PMRY scheme in detail.

Objective of the PMRY Scheme

The objective of the Prime Minister Rozgar Yojana scheme is to employ millions of educated youth by establishing 7 Lakh micro enterprises. The Prime Minister Rozgar Yojana scheme relates to the setting up of the self-employment ventures in all economically possible projects except direct agricultural operations.

Subsidy Provided

Subsidy offered under this scheme is limited to 15% of the project cost. This is further limited to Rs.12,500 per entrepreneur. For the North-Eastern Regions, Himachal Pradesh, Uttaranchal and Jammu & Kashmir regions, the limit is extended to Rs.15,000. Self-help Groups can also avail subsidies of up to Rs.15,000 per beneficiary. This is limited to Rs.1.25 lakhs per self-help group.

Features of the Scheme

Collateral - Collateral, which is a form of security, is not necessary for projects up to Rs.2 lakhs. Rate of Interest- The rate of interest will differ based on the loan amount as per the guidelines provided by the government. Moratorium Period - There is a moratorium period under this scheme, which allows the borrower to start earning money from his the venture before the repayment schedule begins. Training - Training for the borrowers is provided to ensure that they can set up their businessThe training is provided for 15 to 20 days.

Eligibility Criteria

The following persons can avail the benefits of this scheme:

Every unemployed educated youth can apply for the PMRY scheme.
The applicant must be a permanent resident.
The age limit should be 18-35 years.
The age limit is extended to 40 years for people under SC/ST category , ex-servicemen, women, and physically handicapped people.
Applicants must have passed 8th standard.
The income of the family should be Rs.1 lakh per annum.

Documents Required

The following documents are to be produced while submitting the application from.

Aadhar card.
Educational qualification certificate.
Passport size photograph.
EDP Training certificate.
Project report

Project Cost Covered under PMRY Scheme

Sector	Project cost
Business sector	Rs. 2 lakhs.
Service sector	Rs. 5 lakhs.
Industry sector	Rs. 5 lakhs.

Application Procedure

To apply for PMRY scheme, follow the steps below:

Step 1: The applicant has to visit the official website / to apply for the PMRY scheme. Step 2: Download the application from and fill it with the required details..

Step 3: Submit the form to the concerned bank which is included under the PMRY scheme . Step 4: After submission of form these applications will be approved by the concerned bank branches. Note: The applicant can avail loan from all the banks which are connected with government schemes.

Back to Learn

Frequently Asked Questions

Common questions about Prime Minister Rozgar Yojana.

The Prime Minister Rozgar Yojana (PMRY) is a scheme initiated by the Central Government of India to financially assist educated unemployed youth and women in establishing self-employment ventures. The implementation of this scheme is processed by the Directorates of Industries and District Industries Centers (DIC).

The objective of the Prime Minister Rozgar Yojana scheme is to employ millions of educated youth by establishing 7 Lakh micro enterprises. The scheme aims to set up self-employment ventures in all economically possible projects except direct agricultural operations.

Under the PMRY scheme, the subsidy offered is limited to 15% of the project cost, with a maximum of Rs.12,500 per entrepreneur. For the North-Eastern Regions, Himachal Pradesh, Uttaranchal, and Jammu & Kashmir regions, the limit is extended to Rs.15,000. Self-help Groups can also avail of subsidies of up to Rs.15,000 per beneficiary, with a limit of Rs.1.25 lakhs per group.

The PMRY scheme features include no collateral requirement for projects up to Rs.2 lakhs, a moratorium period allowing borrowers to start earning before repayment, and training for borrowers to set up their business. The rate of interest differs based on the loan amount as per government guidelines.

Every unemployed educated youth, permanent resident, aged between 18-35 years (40 years for SC/ST, ex-servicemen, women, and physically handicapped), with at least an 8th standard pass, and a family income of Rs.1 lakh per annum, is eligible for the PMRY scheme.

The documents required for the PMRY scheme include an Aadhar card, educational qualification certificate, passport size photograph, EDP Training certificate, and a project report.

The project cost covered under the PMRY scheme is Rs. 2 lakhs for the business sector, Rs. 5 lakhs for the service sector, and Rs. 5 lakhs for the industry sector.

To apply for the PMRY scheme, the applicant must visit the official website, download the application form, fill it with the required details, and submit it to the concerned bank included under the PMRY scheme. The applications will then be approved by the concerned bank branches.

Yes, the applicant can avail loans from all the banks which are connected with government schemes and included under the PMRY scheme.

Yes, training for the borrowers is provided under the PMRY scheme to ensure that they can set up their business. The training is provided for 15 to 20 days.