Meeting dwells on potential of PM’s employment scheme
In a significant development for the Ministry of Micro, Small & Medium Enterprises (MSME) sector, Upkar Singh Ahuja, president of the Chamber of Industrial and Commercial Undertakings (CICU), joined the meeting of the Parliamentary Standing Committee on Industry (Rajya Sabha) held in Chandigarh.
The meeting focused on the transformative potential of the Prime Minister’s Employment Generation Programme (PMEGP).
The PMEGP is a flagship initiative designed to promote entrepreneurship and generate employment across rural and urban India. Ahuja, representing CICU, shared vital recommendations to enhance the programme’s impact and urged for streamlined policies to boost the MSME growth.
The PMEGP has made remarkable strides, creating over 64 lakh jobs through the establishment of 7.8 lakh micro enterprises since its launch.
This year, the government has allocated a substantial Rs 2,500 crore for margin money subsidies and an additional Rs 100 crore to modernize existing units.
The programme offers subsidies of up to 35 per cent for special categories and 25 per cent for general categories, with a focus on sectors such as manufacturing and services.
Speaking at the meeting, Ahuja emphasised the critical role of MSMEs in driving India’s economic growth.
“The PMEGP is a game-changer, especially for rural artisans and unemployed youth. It not only creates self-employment opportunities but also curbs urban migration and fosters local economic development,”
he said.
