PMRY - Scheme Eligibility, Documents, Implementation

In an attempt to curb unemployment among the educated youth, the Government of India has in place the Pradhan Mantri Mantri Rozgar Yojana initiative. This scheme was launched on 2 October 1993, and has had its provisions undergo several modifications ever since to keep with the changing times. PMRY offers subsidised financial assistance to the uneducated youth of India to enable them to set up self-sustaining employment in manufacturing, trade, service and business sectors, thus making it extremely beneficial to those with entrepreneurship goals.

To know more about the PMRY scheme in detail, especially regarding the eligibility and the scheme’s implementation, read on. 

What are the criteria you must meet to qualify for the PMRY scheme?

In order to qualify for funding under PMRY, below are criteria you need to meet. 

• You must be an unemployed individual between 18 and 35 years of age. However, ex-servicemen, physically handicapped, women, and those from the SC/ST category get a 10-year relaxation.

• You must have completed standard 8th schooling and preference is given to those with training from Government-recognised institutions.

• You must be a resident of the locality for at least 3 years.

• Your income, including that of your spouse, cannot exceed Rs.40,000 annually. The same holds true for your parent’s income.

• You must not have defaulted on payments to any nationalised financial institution.

• You must not have received assistance through any other subsidy-linked Government scheme in the past.

What are the documents you must produce to avail funding under PMRY?

To prove your eligibility for funding under the Prime Minister Rozgar Yojana

initiative, here are the documents you need to furnish. 

• Proof of birth

• Income certificate issued by Mandal Revenue Officer

• Driving license

• Entrepreneurship Development Programme (EDP) Training certificate

• Proof of residence such as ration card

• Copy of proposed project files

How can you apply for the PMRY Scheme?

To apply for the scheme, it is absolutely vital that you have ready the project plan in its entirety. This planning can be done independently, or you can also approach development agencies such as your District Industries Centre (DIC) or a Small Industries Service Institute (SISI) to help draft viable projects. After this step, here are the steps you can take to apply for PMRY.

• Prepare the project report alongside the project profile and fill the form.

• Attach necessary documentation, photographs and submit it to the DIC or local bank.

• Prepare for the Task Force Committee interview to be held at a DIC centre near your residence.

• Upon successfully passing the said interview, collect the intimation letter and proceed with bank clearance procedures. 

How is the Prime Minister Rozgar Yojana scheme implemented?

The Pradhan Mantri Rozgar Yojana initiative is implemented in 7 precise steps. They are as follows. 

• Fixing of targets: Annual beneficiary target for each state is fixed by the Development Commissioner, Small Scale Industries (DCSSI) and is applicable from April to March.

• Allocation within states: The respective state government then reallocates targets amongst the DICs, based on popularity.

• Allocation of targets to banks: Lead banks of states are provided with guidelines to accommodate said targets, from which instructions are then passed down to bank branches to enable disbursement. 

• PMRY applications: The DIC along with the enforcing banks enable prospective applicants to apply for the PMRY loans.

• Task Force Committee interviews: The GM and DIC form the Task Force Committee and the committee conducts interviews to approve scheme beneficiaries as well as allocate the bank. 

• Provide training to selected candidates: As per the DCSSI guidelines, beneficiaries undergo training to help them successfully run their enterprise.

• Monitoring and Reviewing: Districts furnish PMRY-related reports on a timely basis to Industry Commissioners and they prepare the state report. These are then submitted to the DCSSI and Rural Planning and Credit Department (RPCD) of the RBI for further review. 

As you’ll notice, the Pradhan Mantri Rozgar Yojana initiative is designed to tackle youth unemployment and build a self-sustaining model of employment that can bring about the development of the country. As an educated youth, PMRY can help you become the entrepreneur you’ve dreamed of being in a more supported and structured manner. So, get started with your applications right away and take the first step to contributing to the development of India and yourself.