When was the Prime Minister’s Employment Generation Programme (PMEGP) launched?
Show answer & explanation
Correct answer: D
Explanation
The correct answer is option 4 i.e. 2008.
The Prime Minister’s Employment Generation Programme (PMEGP) was launched in 2008 to generate employment and promote entrepreneurship by supporting micro and small enterprises.
The program offers financial assistance through subsidies and bank loans, targeting economically weaker sections.
PMEGP plays a significant role in economic development by fostering local businesses and creating jobs, especially in underdeveloped areas, thereby reducing regional imbalances.
Subsidy: PMEGP provides financial assistance in the form of subsidies to eligible individuals and groups for setting up new enterprises. The amount of subsidy varies depending on the region (urban or rural) and the category of beneficiaries (general or special categories like SC/ST, women, etc.).