written by | April 27, 2022

PMRY Full Form, Scheme, Loan, Apply Online

The Prime Minister's Rozgar Yojana (PMRY) aims to provide 1 million qualified jobless youngsters with long-term self-employment prospects. The program offers money for commercially feasible agrarian and associated enterprises (except for direct agriculture activities such as crop production, manure procurement and so on). 

Did you know?

Till now, 25.32 crore loans amounting to ₹12.91 lakh crore have been handed out under Pradhan Mantri Rozgar Yojna.

Also Read: Government Loan Schemes for Small Businesses In India

What is Pradhan Mantri Rozgar Yojna?

The Pradhan Mantri Rozgar Yojna is a government-sponsored initiative initially implemented in 1993. The Indian government has adopted this move to provide prospects for self-employment. The program's target population is the country's literate jobless young.

The Pradhan Mantri Rozgar Yojna is a loan plan available to the nation's educated youth. The youngsters in need of monetary aid and support can use this loan plan to create their start-up or entrepreneurial endeavour in industries including service, manufacturing and commerce.

Objectives of PMRY

The Pradhan Mantri Rozgar Yojna aims to achieve two key goals. One of which is to create a financial inducement for businesses to create additional jobs in their enterprises. The Indian government will pay 8.33 percent of the employer's EPS payment for the new position.

The second goal of PMRY is to assist a significant number of skilled jobless people in finding work in their respective sectors. These employees will have immediate access to the social security advantages that come with participating in the organised sector as a result of doing so.

Features of PMRY


The PMRY program provides compensation of ₹2 lakhs, ₹5 lakhs and ₹15 lakhs for the commercial, service, and industries sectors.


This initiative provides a no-collateral loan of up to ₹1 lakh.


When it concerns the loan settlement, the recipient gets a 3 to 7-year grace period from the commencement of the moratorium.

Additional Training

Those who register for and borrow from the PRMY program will get a 15–20-day training term. This training phase teaches the applicant the ups and downs of starting their enterprise. The program aims to provide borrowers with the necessary knowledge of where and how to effectively deploy their funds to create their business enterprise.


The Developmental Commissioner, under the Ministry of Small Scale, Local and Agro Industries, is the principal body of this government initiative.


The borrower can receive their loan funds in EMIs, which makes it easier for them to start and run their enterprise. Alternatively, the borrower can return the loan balance in comparable EMIs so that the newly formed firm/business does not experience financial strain or loss.


In addition, the Pradhan Mantri Rozgar Yojna gives a 16 percent subsidy on the cost of construction for which the borrower took the loan. The total cost of the project is limited to ₹12,500 per person.

How Did the Government Implement the Scheme?

  • From April to March, the DSCSSI sets the objective for the year. The committee determines the objectives and rigorously examines based on the population, unemployment and underdevelopment of the locality, among other factors. 
  • The state government assigns state goals to each municipality's District Industries Centers (DIC). 
  • The financial institutions and the DICs will play a vital role in the loan program's execution. The institutions will inform The Reserve Bank of India's Chief General Manager of the state government's objectives for the different DICs. The lenders may offer set guidelines and funding to the states' prominent institutions. 
  • The next stage will be to send out invitations to enrol for PMRY loans. The registration form will be accessible at the DIC, regional banks and the affected localities' local Industry Promotion Offices. The applicant must fill out the registration form's basic information. 
  • The GM and the DIC have formed a task force group that will execute the applicant interviews. 
  • The following stage will be to offer the selected individuals with the requisite training. It is the obligation of the GM and the DIC to provide the qualified applicants with the appropriate training and resources so that they would learn the mechanics of running their own business. The GM and DIC will train the applicants in the business segment for 15 to 20 days, while applicants in the business/service field for 7 to 10 days. 
  • The authorities that supplied the PMRY loan will actively monitor the qualified applicants after completing the course. On a monthly, quarterly and annual basis, the districts will disclose details on sanctions, reimbursements, training and recovery of debt sanctioned. The authorities will recommend them to the Commissioners of Industry, who will create the final statement for the state authority.

Eligibility Criteria For the Scheme

  • Employees with a monthly income less than or equivalent to ₹15,000 are the PRMY's primary target. Those who earn more than ₹15000 per month are not entitled to the PMRY initiative. 
  • Employees with a college diploma and jobless persons should be between the age group of 18 and 35. 
  • Graduation in the eighth grade is the minimum academic prerequisite. 
  • The applicant must have lived in their current location for at least three years. 
  • The beneficiary's household income must be less than ₹40,000 per month. 
  • Employers must have hired new workers to be eligible for the program. These new hires must have an Aadhaar-seeded Unique Account Number but have never worked for an EPFO before.

Also Read: How Beneficial Is PM SVANidhi Scheme and What Is the Procedure to Avail It?

How to Apply Online For the Pradhan Mantri Rozgar Yojna?

  • Visit the official website of the Pradhan Mantri Rozgar Yojna. 
  • Download the scheme's application file and finish that out with the right and required details. 
  • Scan and attach any essential documents like pictures and the completed application form. 
  • Send the completed application form to the designated bank and the required papers. Following successful registration, the lender will contact you with loan specifics on time.

Documents Required

  • Identity proof (driving license, PAN card, etc.).
  • SSC certificate/TC from the institution where the candidate studied as verification of birth date.
  • A caste certificate, granted by the MRO (if applicable).
  • Income certificates.
  • Proof of residence for at least three years. 
  • EDP certification of training.
  • A copy of the proposed project profile.

Changes Made to the Pradhan Mantri Rozgar Yojna

There have been some adjustments to the PMRY over the years. The government made these modifications to serve the needs of prospective candidates best. These improvements also provide improved enrollment chances for the nation's diverse population.

  • The government lifted the maximum age restriction for those living in India's north-eastern areas from 35 to 40 years.
  • The government extended the maximum age to enrol for the plan from 35 to 45 years for women and those who belong to the Scheduled Caste or Schedule Tribe.
  • The eligible group finance has been enhanced to a meagre ₹5 lakhs.
  • The PMRY currently requires an 8th-grade graduate rather than a class ten grad as the minimum academic requirement.
  • Except for direct agricultural operations such as manure usage and purchasing and crop growing, the Pradhan Mantri Rozgar Yojna will now embrace associated activities and farming.
  • Previously, the cost of a project could not exceed ₹1 lakh. The government raised this sum to ₹2 lakhs.


The Central Government of India has launched the Pradhan Mantri Rozgar Yojana (PMRY) to offer 10 lakh educated jobless men and women in India long-term self-employment prospects. PMRY began this mission in 1993 by providing financial support to anyone who wanted to start an independent business in the commerce, manufacturing or service industries.
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Q: What is the minimal educational need to be eligible for the PMRY program?


The minimal educational qualification is a passing grade in eighth grade. Those who have completed at least six months of training in a specific industry from a Government Accredited Institution are the priority.

Q: Is the scheme subject to any reservations?


According to the PMRY plan, people recognised as SC or ST are entitled to a 22.5 percent quota, while those from Other Weaker Sections are entitled to a 27 percent reserve. Women and the disadvantaged sectors of society are the priority in terms of reservations.

Q: Is the PMRY program eligible for a special rate of interest?


No, the Pradhan Mantri Rozgar Yojna would levy the standard rate of interest on the loan.

Q: Is there any collateral exemption in a partnership?


The exemption of security in the case of a joint venture would be restricted to an amount of ₹1 lakh per individual participating as a companion in the initiative.

Q: What activities does the PMRY Scheme cover?


All commercial activities, such as agriculture, are covered by the PMRY. However, the plan doesn't cover direct farming operations such as purchasing fertiliser or cultivating crops.

Q: Is it possible to use PMRY perks with other government subsidies?


If you currently get a government subsidy, you would not be liable again for Pradhan Mantri Rozgar Yojna.

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