Srinagar, Mar 12: Jammu and Kashmir has emerged as the frontrunner in generating maximum employment opportunities under the Prime Minister’s Employment Generation Programme (PMEGP), surpassing even larger states like Uttar Pradesh and Tamil Nadu.
According to official figures, the union territory saw a staggering 44,542 projects assisted between 2021-22 and 2023-24 (until January 30, 2024), receiving a substantial margin money subsidy of ₹921.38 crore. This remarkable feat has led to an estimated 3,56,336 employment opportunities, accounting for a significant 18 percent of the total employment generated nationwide under the scheme during this period.
Overall, the PMEGP has assisted 2,53,710 projects with a margin money subsidy of ₹8,099 crore, generating an estimated 20,29,680 jobs over the past three years. Since its inception in 2008-09, the scheme, implemented by the Ministry of MSME through the Khadi and Village Industries Commission (KVIC), has assisted a total of 9.35 lakh enterprises, creating employment for 76.35 lakh individuals.
Recognisng the scheme’s potential, the Jammu and Kashmir government has also enhanced financial support through various programs to empower youth to generate employment for themselves and others. According to figures presented during the UT Level Bankers Committee Meeting, banks operating in the region have sanctioned ₹1,213.60 crore in favor of 25,875 beneficiaries under various employment generation schemes, including PMEGP, NRLM, NULM, PMWMY, CCS for artisans and weavers, and JKREGP, up to September 30, 2023.
This concerted effort by the central and UT governments to promote entrepreneurship and self-employment has not only provided a much-needed boost to the region’s economy but has also instilled a sense of hope and empowerment among the youth, paving the way for a brighter future.
