"PMEGP: New micro units set up in FY22 jump 38% from previous year; Rs 3,000 crore subsidy disbursed

The central government scheme — Prime Minister’s Employment Generation Programme (PMEGP) — to promote entrepreneurship and generate employment through financial assistance to individuals has enabled 1,03,219 new micro enterprises in FY22, up 38 percent from FY21, with a margin money subsidy of Rs 2,977 crore disbursed during the year. The number of new micro units set up in FY21 with the support of PMEGP was 74,415 with Rs 2,188 crore in subsidy. In comparison, 66,653 new micro-enterprises were set up with Rs 1,950 crore subsidy pre-Covid in FY20.

Sharing data in the Lok Sabha in a written reply to the question of the scheme’s performance, Minister of State for MSMEs Bhanu Pratap Singh Verma noted that 18,000 new micro units were set up with Rs 550.08 crore subsidy as of July 13, 2022.

Read more at Financial Express