Did the bank not release the subsidy to the beneficiaries on time?
The government was asked in the lok sabha whether the subsidy should be released within 24 hours as per PMEGP guidelines? If yes, then why is there a delay? In response to this question, the government said that in the financial year 2023-24, 417 claims could not be settled due to budget constraints, which include margin money subsidy of Rs 20.73 crore. The government says that this delay is due to lack of money.
Under the PMEGP scheme, KVIC checks whether the subsidy sought for starting a business is correct or not. If everything is fine, KVIC asks the bank to send the money within 3 days. The bank has to send this money to the bank account of the person starting the business within 24 hours.
PMEGP: What is the basis of the success of the scheme?
The government has taken several steps to ensure the success of the Prime Minister's Employment Generation Program (PMEGP). The government said that a special website has been created where you can see the entire process from applying to getting the money. This shows at what stage your application is and when you will get the money. Government officials themselves visit those small businesses that have started with the help of PMEGP. They see whether the business is in the right place or not and whether it is running or not. For this, they also take photos and location of that place.
The government holds meetings with banks to ensure that people are getting loans easily and subsidy money is also being received on time. The government holds meetings with all the departments that help in running the PMEGP scheme. Like Khadi and village Industries Commission, district Industries Center etc. This shows whether the scheme is running properly or not.
There is a committee in every district which monitors the PMEGP scheme. This committee sees whether the money of the scheme is being spent at the right place or not and whether people are getting benefits or not. From time to time, the government gets the PMEGP scheme audited by some other organization. This shows how much people have benefited from the scheme and what improvements can be made in it.
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