Interest Rates, Repayment Schedule, and RBI’s Role in PMEGP Scheme The Prime Minister’s Employment Generation Programme (PMEGP) is a vital initiative by the Government of India that encourages entrepreneurship and self-employment. While the eligibility criteria for beneficiaries are crucial, understanding…
Who can get PMEGP Subsidy Loan
Eligibility Conditions for Beneficiaries under PMEGP Scheme The Prime Minister’s Employment Generation Programme (PMEGP) is a flagship initiative of the Government of India aimed at promoting self-employment and entrepreneurship among individuals. The scheme focuses on providing financial assistance for setting…
Subsidy amount available under PMEGP Scheme
Levels of funding under PMEGP Categories of beneficiaries Beneficiaries contribution (of project cost) Rate of subsidy of project cost Area (location of project/unit) Urban Rural General Category 10% 15% 25% Special (including SC / ST / 05% 25% 35%OBC /Minorities/Women, Ex-servicemen,…
Businesses that are Not Allowed in PMEGP Loan
Activities Not Allowed in PMEGP: What You Need to Know Introduction:The Prime Minister’s Employment Generation Programme (PMEGP) is a special plan to help people start small businesses in India. But there are some things you can’t do under this plan. These…
PMEGP Loan Scheme and Eligibility
Empowering Employment and Entrepreneurship: Prime Minister’s Employment Generation Programme (PMEGP) The Government of India has taken a significant step towards fostering employment opportunities and entrepreneurship by introducing the Prime Minister’s Employment Generation Programme (PMEGP). This initiative merges two previously operational…
A Closer Look at Priority and Non-Priority Sectors Lending as per RBI Classification
The Reserve Bank of India (RBI) plays a pivotal role in shaping the lending landscape in the country. One of its key initiatives is the categorization of lending into various sectors, each with its own distinct purpose and impact on…
Which are the priority sectors in lending
The Reserve Bank of India (RBI) has established guidelines for lending in various sectors to promote economic growth and financial inclusion. Here are some of the different types of sectors as per RBI’s priority sector lending (PSL) guidelines: These guidelines…
India’s First Women’s Bank: Woman Empowerment
In a significant stride towards women’s financial empowerment, India witnessed the inauguration of its first women’s bank on November 19, 2013, named the “Bharatiya Mahila Bank.” This pioneering institution aimed to address the unique financial needs of women, offering them…
Powering up Electric Vehicle Adoption: A Potential Boost through Priority Sector Lending
Government is thinking about making it easier for people and businesses to buy electric vehicles (EVs). They want to do this by including EVs in Priority Sector Lending (PSL) guidelines. These PSL rules make banks give a certain amount of…
Inputs to be Claimed while filing GSTR-3B whether as per GSTR-2A or GSTR-2B
It’s a very common question while filing GSTR-3B, which Inputs to be considered whether as per GSTR-2A which stood as on the date of filing GSTR-3B or as per the Inputs available in GSTR-2B for the respective Month. Some people are…
Due Date of Income Tax return for AY 2019–20 Extended
CBDT has issued circular to extend the due date for filing Income tax return for the assessment year 2019–20 from 31.07.19 to 31.08.19 for the tax payers who were liable to file their income tax return by 31st July 2019. The…