Government Sponsored Schemes

1. Government Sponsored Schemes

2. Government Sponsored Schemes For the upliftment of the downtrodden in society, the Government of India has implemented financial assistance in the form of subsidized loans. The individuals/ group of individuals who are eligible for these schemes are selected by various channelizing agencies and banks provide loans to these candidates sponsored by these agencies.

3. General guidelines One family, One Subsidy: For these Government sponsored schemes, only one candidate/family member from a family is eligible for the subsidy. The candidate/ family member should not be a Government or a quasi government employee. Certificate from concerned authorities is required for differently abled candidates. These schemes are backed by interest/ capital subsidy from the sponsoring agencies. No interest will be applied for subsidy amount and corresponding loan amount in case of backend subsidy.

4. Prime Minister's Employment Generation Programme (PMEGP) Objective: To generate opportunities by setting new self-employment ventures/ projects / micro enterprises. To provide continuous and sustainable employment to unemployed youth in rural and urban areas. To increase the earning capacity of skilled workers/artisans. Eligibility Criteria: Any individual above 18 years of age. No income ceiling to set up projects mentioned under this scheme. Educational qualification: Min 8th standard pass for projects costing Rs.10 lakhs and above in manufacturing sector and above Rs. 5 lakh in business /service sector. Financial assistance under this scheme is available only for new projects (existing units/ units already availed this subsidy not eligible).

5. DeenDayalAntyodayaYojana National Rural Livelihood Mission (DAY-NRLM) NRLM: DAY-NRLM was launched by replacing the existing Swarnajayanti Gram SwarojgarYojana (SGSY) scheme w.e.f 1st April 2013. The aim of this mission is to eliminate poverty by building strong institutions of the poor, particularly women and enabling these institutions to access a range of financial and livelihood services. In this mission, women SHGs will be promoted on the basis of affinity unlike common activity as it was in the SGSY scheme. Under this scheme, compliant women SHGs are eligible for interest subvention. Subvention will be available in two ways across the country: Category I Districts: In 250 identified NRLM intensive Districts, banks lend an aggregate loan amount up to 3.00lakh @7.00% p.a to all women SHGs. On prompt payment these SHGs will get additional interest subvention of 3.00%, making the effective rate of interest to 4.00%. Category II Districts: Interest subvention will be there till the extent of difference between the lending rates of the Bank and 7.00% for loan up to Rs. 3.00 lakh by the State Rural Livelihood Mission for all NRLM compliant prompt repaying women SHGs.

6. DeendayalAntyodayaYojana- National Urban Livelihood Mission (DAY-NULM) NULM: This scheme was launched by replacing the existing SwarnaJayantiShahariRozgarYojana (SJSRY) scheme w.e.f. 24th September 2013. The main Objective of this scheme is to reduce poverty and vulnerability of the poor households in urban area by providing them access to gainful self-employment and skilled wage employment opportunities. At least one member (preferably a woman) from each urban poor household should be brought under the SHG network in a time-bound manner. Salient features: For beneficiaries, there is no minimum educational qualification required. For loans up to Rs.10.00 lakhs, no collateral required Repayment is within time period - 5 to 7 years after initial moratorium of 6-18 months. Additional 3.00% interest subvention is available for prompt repaying women SHGs. Maximum project cost covered under this scheme is Rs. 2.00 lakhsfor individual micro enterprise and Rs. 10.00 lakhs for Group micro enterprise.

7. Self Employment Scheme for Rehabilitation for Manual Scavengers (SRMS) “Manual scavenger” are those persons who are engaged/employed for manually cleaning, carrying, disposing of, or otherwise handling human excreta in any manner. Maximum Project Cost allotted is Rs. 10.00 lakhs and it is Rs.15 lakh in case of sanitation related projects like Vacuum loader, Suction Machine with vehicle, Garbage disposal vehicle, Pay & Use toilets etc. Interest: 4 to 6% p.a under interest subvention scheme. Repayment: Within 5 to 7 years including moratorium.

8. Differential Rate of Interest (DRI) Scheme Under this scheme need based financial assistance is offered to all those who intend to take up any productive activity. Eligibility Criteria: Family income not exceeding Rs.24,000/- p.a in metropolitan/ urban/ semi-urban areas Rs.18,000/- p.a. in rural areas. Loan Limit: Rs.15000 for any productive activity Rs. 20000/- for housing loan. Interest: 4% p.a Repayment: Within 5 years for term loan.

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