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Pradhan Mantri Rozgar Yojana – An introduction


The Pradhan Mantri Rozgar Yojana (PMRY) is an ambitious scheme of the Central Government of India. It aims to offer self-employment to educated youths and who are unemployed.

The Prime Minister Rozgar Yojana was launched in 1993 and offers a loan of up to Rs.5 lakh to unemployed youth and women.

The key prospect of the Prime Minister Rozgar Yojana is to help people to kick off their business ventures in sectors such as manufacturing, trade and services.

What are the features of the Pradhan Mantri Rozgar Yojana?

  • The repayment tenor of the Pradhan Mantri Rozgar Yojana for unemployed and educated youths stands between 3 and 7 years. It is after the completion of the moratorium period.

  • You can get the cost coverage of the project amounting to Rs.2 lakh and Rs.5 lakh. You are also allowed Rs.5 lakh for business sector, industry and service sector.

  • You can get a collateral free loan of up to Rs.1 lakh.

  • The plan also covers all sectors that are economically viable, and it includes allied activities and agriculture. Direct agricultural operations are not included under the PMRY scheme.

  • You can opt for an unemployed loan through the PMRY scheme.

  • For a maximum of Rs.12,500 for all, the PMRY scheme also offers a subsidy of 15%. But the amount exceeds Rs.15,000 for regions such as North-East, Jammu & Kashmir, Uttaranchal and Himachal Pradesh.

If you are an unemployed youth between the age of 18 and 35 years and looking to start self-employment opportunities, then you can opt for the PMRY scheme.

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