Excelsior Correspondent
JAMMU, Feb 26: Minister of State for Industries and Commerce, Sajjad Ahmed Kichloo informed the Upper House that an attractive Central Government package through Prime Minister’s Employment Generation Programme (PMEGP) is available for youth self-employment.
Replying to a question of Subash Gupta in the Legislative Council, the Minister informed that as per the package, the maximum cost of the project/ unit admissible under manufacturing and service sector is Rs. 25 lakh and Rs. 10 lakh, respectively. The beneficiary contribution for Reserved Category i.e SC/ST/OBC Minorities/ Women, Ex-Servicemen, Physically Handicapped, NER, Hill and Border areas etc. is 5% and subsidy @ 25% and 35% for urban and rural areas, respectively. The balance amount of total project cost is provided by the banks as term loan.
The Minister said that 2886 kanal of land has been transferred to SIDCO for development of the Industrial Estate Ghati in Kathua. The cost of the project is envisaged at Rs. 58.23 crores. The development works have been taken up and the project is being completed in two phases over a period of three years for which administrative approval stands accorded. Consequent to the grant of Environmental clearance by the Union Ministry of Forest & Environment, the action on allotment of land to the prospective entrepreneurs has been initiated.
Mr. Kichloo further informed that to encourage entrepreneurs to setup their units in the State, the State and Central Government provided various incentives to aspiring entrepreneurs.
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