The Prime Minister’s Rozgar Yojana or PMRY was developed to generate self-employment opportunities that are sustainable to about 1 million unemployed and educated youth of India.
Launched in 1993, this scheme aims to make financial assistance available to the economically viable activities that are inclusive of agricultural and allied activities, other than direct agriculture operations like crop raising, manure purchase, and many more.
The applicant must fulfil the following eligibility criteria in order to avail of the benefits of the Prime Minister’s Rozgar Yojana:
The applicant must have passed the 8th standard. Preferences will be given to those individuals who have undergone training for any other kind of trade in government-recognized institutions for a minimum period of 6 months
The applicant should be between the age of 18 and 35 years of age. A relaxation of 10 years is also available for Scheduled Caste, Scheduled Tribe candidates, women, ex-servicemen and physically challenged applicants that are up to the age of 45 years
- Loan default
The individual must not have been a loan defaulter in the past. He or she should not be related with or linked to any other subsidy-linked government schemes also
- Family income
The income of the applicant’s family should not be more than Rs 40000 per year. This includes the income of the individual and spouse or the income of the parents.
The individual should be a permanent resident of the area in which he or she is residing at the moment. He or she should have been staying there for a minimum period of 3 years
In order to apply for the Prime Minister’s Rozgar Yojana, an applicant should have the following documents in possession:
- Proof of date of birth like a birth certificate, SSC certificate or TC from a school they have studied in
- Proof of permanent residence for a minimum period of 3 years like a ration card, or any other document which provides proof of residency
- Mandal Revenue Officer or MRO issued income certificate
- Driving license
- EDP training certificate
- Experience, qualification and technical certificates
- A copy of the proposed project profile
Application for a loan
For applying for a Prime Minister’s Rozgar Yojana loan, the applicant must look into the following steps of application:
- Once the project idea is finalised, the applicant is needed to fill up a form and submit it by enclosing the relevant photographs and documents. These documents will later be submitted to the District Industries Centre or DIC or the bank from where the loan is sought
- The applications are reviewed and the selected candidates are invited for an interview. The interviews are generally held at main places in all districts.
- If eligible candidates are unable to avail of the benefits of the scheme due to lack of awareness, the process is explained in detail by the DICs or local banks
- It is also probable to apply for a loan under PMRY at any time during the year. On the other hand, it is advisable to apply between the months of April and June
- In a year and in all districts, only three PMRY interviews are held. The Task Force Committee is responsible for conducting the interviews and selecting eligible applicants for the loan.