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SHORT ANSWER: The Prime Minister Employment Generation Program (PMEGP) provides financial assistance for setting up small businesses. DETAILS: - It is a credit-linked subsidy scheme aimed at generating self-employment opportunities. - The scheme is implemented by the Ministry of Micro, Small and Medium Enterprises (MSME). - Eligible beneficiaries include individuals above 18 years of age, including women and SC/ST/OBC categories. - The maximum project cost is Rs. 25 lakh for manufacturing and Rs. 10 lakh for service sectors. - The subsidy ranges from 15% to 35% depending on the category of the beneficiary and the location of the project. PUNISHMENT / IMPLICATIONS (if applicable): - Misuse of funds or false information can lead to recovery of subsidy and legal action. SOURCE: - Prime Minister Employment Generation Program (PMEGP) Guidelines, Ministry of MSME.
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