Under the PMEGP scheme, financial assistance is provided for setting up new micro- and small businesses, thereby facilitating self-employment and job creation among unemployed youth. The scheme encourages the establishment of small projects in sectors such as manufacturing, services, and agro-based industries.
Guided by the Deputy Commissioner, Baseer-Ul-Haq Chaudhary, all banks are implementing the PMEGP scheme effectively across the district and have disbursed a total amount of Rs 1627.38 Lakh among 211 young entrepreneurs during the first, second, and third quarters of the fiscal year 2023-24 to start their business units and generate job opportunities.
The Khadi and Village Industries Board, Ramban, has played a significant role in fostering entrepreneurial ventures in the district. KVIB has sponsored 202 cases, in which 117 cases of Rs. 1005.72 lakh have been sanctioned. Notably, Rs 852.57 Lakh has been disbursed among 102 unemployed youth by the Khadi and Village Industries Department during the current FY 2023-24.
Similarly, the District Industries Centre (DIC) Ramban, under the supervision of General Manager Ravinder Anand, has also fostered entrepreneurial ventures within the district. In the fiscal year 2023-24, DIC sponsored a total of 256 cases, with 150 cases successfully sanctioned. A substantial loan amount of Rs 629.91 Lakh has been disbursed among 91 young entrepreneurs through various banks.
Moreover, KVIC has also got 20 cases of Rs. 191.11 sanctioned under PMEGP Scheme with a disbursement figure of Rs. 144.90 lakh of 18 candidates. These initiatives have not only propelled economic growth but have also significantly contributed to employment generation within the district. A commendable 126 individuals have found employment opportunities through these entrepreneurial endeavors, positively impacting the local economy.
Overall Rs.1627.38 lacs have been disbursed among 211 young entrepreneurs which has generated 633 job opportunities in the district. A substantial Rs. 223.73 subsidy has also been released to 87 beneficiaries of PMEGP in the current FY 2023-24.
The success stories of ventures established under PMEGP in the district are inspiring. One such example is Naina Gupta Tringla from Batote District Ramban, J&K, who established a thriving servicing unit of Gym-cum-Fitness Centre. Under the PMEGP loan of Rs 15 Lacs, with a subsidy of Rs 3.75 Lakh, sanctioned and disbursed in 2022-23 by the State Bank of India, Batote, the venture has flourished.
Speaking about her venture, Naina Gupta emphasized her commitment to addressing the community's needs and providing employment opportunities to local people and up-skilling unskilled workers. Her Gym-cum-Fitness Center has not only thrived but also employed 07 unemployed youths, including gym coaches and fitness trainers.
The success of ventures like Naina Gupta's highlights the transformative impact of PMEGP in fostering entrepreneurship, generating employment, and meeting the demands of local communities.