Prime minister employment generation programme a boon to the new entrepreneurs
If you are In india and want to start a business and looking around about the population which is more than 140 crores,Then definitely there are lots of opportunities and struggle as well but there is a harsh reality in the society as a child when he/she starts a schooling the expectation from the society and even from the parents is to become a doctor,engineer or even they expect to opt for government position
Mindset of the society towards jobs and business
its been many decades in india that the tradition of education system never changed children will take admission then will study in school also will take tuition by side then slowly he will graduate then race will start for the job either private or government job he have has to run behind it.Many will give there decade to crack the government job examinations.
Business failure vs job security
fear of failing in business due to lack of knowledge is one of the reason,If taken step also fund is required moving towards bank and due to lack of knowledge about process,documentation will make then quit in between or they will never start.In other hand there will job security, fixed income from job,Growth will be slow but steady.
Education system towards business
Even in the education there are not such any broader courses or subject that tilt the mindset of the early growing child to divert himself toward business with confidence,still people have lack of knowledge stepping towards the business model.
Building strong courses and educating parents
Government should first educate the parents,they should be able to join the seminars and even school should come forward to educate children and build a positive mindset.It will help to build a bridge between the student and there parents to step into or think positively without fearing towards the society that what neighbour will think or what society will think.programme like shark tank on tv channel are doing some efforts to some extent.There should be seminar in society level,Ngo’s,Agencies or many teacher should come forward and help them to understand the government schemes and courses from where one can enter into business with support and full guidance.
Government scheme like PMEGP
PMEGP is a credit linked subsidy scheme with loan that was launched in 2008 under kvic and it is implemented by MSME ministry
Here you can get a loan upto 50 lakhs for manufacturing
for the service it is of 20 lakhs
Subsidy (margin money):
General: 15% (urban), 25% (rural).
Special categories (SC/ST/OBC, women, minorities, ex‑servicemen, PH, NE/hill/border): 25% (urban), 35% Ruralguidance how to start a business with the help of PMEGP
First decide the sector you want to go on or if you have knowledge of any particular area it can be manufacturing or service.Then go to kvic office in every district you will have DIC office from where you can get the knowledge
In the given website link of pmegp you can even find various projects sample you can check on it.Decide what suits you study,research, with the help of project visit to the bank and tell them about your planning and if you have good repo with bank and if they are ready with the loan,visit to kvic book an appointment be ready to appear in the nominal discussion with panel where you will have to explain about your project,location and other details once you clear this. you will get an email from kvic portal where you have register yourself before visiting and upload all required document related to your project,location,education as well. then once you are done the official mail will be forwarded to the bank and regarding your project sanction and the subsidy details.Then bank will release your first 20 percent amount rest amount is decided as the loan will be categorized in term loan and cash credit (CC) the amount for the machinery if it is manufacturing will be credited to the supplier account and you have to submit GST bill later to the bank. You will be given grace period minimum 6 month for construction where no emi will be deducted so that you can have ease to perform all the aspect without any hurdle.
Subsidy will get released after three year of locking period after checking your performance and the inspection done by the authority and if it is green signal te subsidy will be adjusted in your loan account.
There is also a provision of 2nd loan or you can call it upgradation after successful of your first loan that is upto 1 crore and with the subsidy of 15 lakhs.
Conclusion
People specially young blood should come forward get educated take the advantage of such loan and help grow themselves and bring the country in coming decade shine more in front of the world.
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