Pradhan Mantri Rozgar Yojana

Launched in 1993, Pradhan Mantri Rozgar Yojana (PMRY) encourages self-employment among the educated but unemployed youth. The scheme offers financial aid to individuals wanting to start a business in service, manufacturing, or trading sectors.

In addition to the financial support, the scheme also offers the necessary training to help them manage their ventures. 

To apply for a loan under the PMRY scheme, you need to meet the following eligibility requirements:

• You should be between the age of 18-35 years.

• Relaxation of 10 years for SC/STs, physically handicapped, ex-servicemen, and women applicants is provided 

• You should have cleared the 8th standard exam

• The total of your income combined with your spouse’s or your parent's income should not exceed ₹40,000 per annum

• You should be a permanent resident of the area for at least 3 years

• You should not be a defaulter for any financial institution or a beneficiary of other government-linked schemes

Here is an overview of the implementing agencies of the Pradhan Mantri Rozgar Yojana:

• The Development Commissioner (Small-Scale Industries) under the Ministry of Small Scale, Rural and Agro, Industries Government of India is the apex body

• The implementation of the scheme at the State level, except for 4 metropolitan cities, is under the respective Commissioner/Director of Industries

• In the metropolitan cities, Small Industries Service Institute (SISI) implements the scheme

• DCSSI formulates the regulations, rules, and guidelines and offers clarification on matters about the PMRY scheme

• DCSSI is also responsible for monitoring the progress of the scheme

• On a state level, the State Level PMRY Committee is responsible for monitoring the progress

To apply for a loan under the PMRY scheme, follow these steps:

• Step 1: Visit the official website at https://pmrpy.gov.in/ 

• Step 2: Fill in the application form with the required details

• Step 3: Submit the form to the local DIC or PMRY-registered bank

• Step 4: Appear for the interview after your application is reviewed

After the interview, the responsible authorities will shortlist candidates they consider to be eligible for a loan under the scheme.