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With an aim to facilitate generation of employment opportunities for unemployed youth across the country, the government has approved the extension of its scheme for employment generation ‘Prime Minister’s Employment Generation Programme’ (PMEGP) over the 15th Finance Commission Cycle from 2021-22 to 2025-26 with an outlay of Rs 13,554.42 crore.

In addition, multiple modifications have also been made to the scheme including increasing the maximum financial assistance offered from existing Rs 25 lakh to Rs 50 lakh to entrepreneurs for setting up new manufacturing units and from existing Rs 10 lakh to Rs 20 lakh for new service units.

Besides, all Implementing Agencies are allowed to receive and process applications in all areas irrespective of the rural or urban category. As per the notification, the scheme will create sustainable estimated employment opportunities for about 40 lakh persons in five financial years. All the States/UTs will be covered under the Scheme.