Prime Minister Modi has launched a new scheme. Under this scheme, the youth of India will be given the opportunity of employment. This scheme is for both illiterate and educated people.
Under Prime Minister's Employment Scheme, the youth will be given a loan of Rs 1 lakh for starting their own business under the scheme and Rs 2 lakh for the industrial and agricultural sector. This scheme was started in 1993. Now it is being changed a few times and it is being renewed. Online application for Prime Minister's Plan can also be made.
To avail the scheme, the age limit has been fixed till age of 18-35 years. 10 years' discount for reserved persons. Talking about education, applicants should have at least and eighth pass. Household income should not exceed 40,000 rupees per annum. The applicant must be permanent resident of any area for at least 3 years. The applicant also needs to have taken loan from any bank earlier, Already repaid According to RBI, interest rates can be changed from time to time. Every businessman will be provided with 15% on the basis of his industry. The maximum amount is fixed at Rs 7500.