STATE
POLICIES

DELHI

6.0 Prime Minister's Rozgar Yozna

The PMRY has been designed to provide employment by setting up micro enterprise by the educated unemployed youth. It relates to the setting up of the self employment ventures through industry service and business routes.

Eligibility

  1. Age : between 18 to 35 yrs.
  2. Qualification : Matric (Passed or Failed) or ITI passed or Govt. sponsored technical course for a minimum duration 6 months.
  3. Residence: Permanent resident of Delhi for at least 3 years.
  4. Family Income : Upto Rs.24000/- per annum
  5. Defaulter : Should not be a defaulter to any nationalised Bank/Financial Institution/Co-operative Banks etc.

Reservation

22.5% for SC/ST and 27% for Other Backward Classes (OBC)

Activities Covered

Entrepreneurs can take loan for any enterprise-industry, service or business, however, not more than 30 percent enterprise should be from business sector.

Project Cost

Projects upto Rs. 1 lakhs are covered under the scheme in case of individuals. If two or more eligible persons join together in a partnership, the project with higher cost can also be covered provided share of each person in the project cost in Rs. 1.00 Lakh or less. In such cases total project cost may exceed Rs. 1 Lakh and there is no upper ceiling on the same.

Margin Money, Bank Loans and Rates of Interest

Entrepreneur is required to contribute 5 percent of project cost as margin money in cash.

Collateral Guarantee on Bank Loans

The loans would not require any collateral guarantee. Only assets created under the scheme would be hypothecated to the bank.

    Subsidy

    Government of India would provide subsidy at the rate of 15 percent or the project cost subject to a ceiling of Rs.7500/- per entrepreneur. In case more than one entrepreneur join together and set up a project under partnership, subsidy would be calculated for each partner separately, at the rate of 15 percent of his share in the project cost, limited to Rs.7500/- (per partner).

    Repayment Scheme

    Repayment schedule would range from 3 to 7 years after in initial moratorium of 6 to 18 months.

    Training

    Scheme envisage compulsory training for entrepreneur for a period of 15 to 20 working days under Industrial sector and 7 to 10 working days under Business and Service Sector after the loan is sanctioned.

    Location of Work Space

    The applicants have to arrange their own work premises in conformity with the land use permissible in the Master Plan of Delhi-2001. NOC from high power committee will have to be obtained in case the premises are located in residential area for establishing manufacturing activity.