Rajdev Pandey, Patna. Proper employment generation is not being done in Bihar through Prime Minister’s Employment Generation Program (PMEGP). Margin money could not be paid in as many projects in the last three years in which margin money was claimed. In the last three financial years 2020-21, 2021-22 and 2022-23, a total of 11417 MEGP projects claimed margin money. Out of this, margin money could be paid only in 9177 projects. Here the situation is that in the absence of positive attitude, out of 51973 applications sent to the banks in the last three years, only 14057 applications could be approved.
Margin money not received
In these three financial years, the margin money could not be received as per the claim even in a single year. For example, in the financial year 2020-21, 2382 project applicants claimed margin money. This year only 2186 applicants got it. After this, in the next financial year 2021-22, margin money was given in only 2473 projects against claim margin money in 2680 projects. In the financial year 2022-23, 6355 applicants claimed margin money. Out of this, margin money could be given only in 4458 projects. Margin money is given to the banks. Actually it is a subsidy, which the government gives to the banks in the name of the project holders. An amount equal to the margin money is not given to the banks by the project applicants.
There was a tremendous jump in applicants in PMEGP after Corona
According to official information, the number of applicants used to be around the target during the Corona period. Now it has exceeded the target many times. Although the targets are coming many times more than the applications. At present, 67277 applications have been received in the last three financial years. Out of this, only 9177 applicants could get the benefit of this scheme. It is clear that the banks did not take a positive attitude in the matter of acceptance. Sources reveal that the highest ever 30229 applications in PMEGP came in the last financial year 2022-23. Right after Corona, the number of applicants has crossed 20 thousand in 2020-21.
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Approval rate by banks is also low, some of the important reasons for this were told
bad civil score
project not clear
Doubt in the success of the project
Not useful in specific area
Indirect demand for bank guarantee is also the biggest reason.
Highlights related to PMEGP in the last three years
Total applications received – 67277
Sent to Bank – 51973
Sanctioned Project- 14057
Margin money claimed – 11417
Payment of Margin Money – 9117
Note: All these figures have been officially taken from the Industries Department.
PMEGP Scheme
In this scheme, 25 lakh loans are given in the service sector and 50 lakh in manufacturing.
15 to 35 percent subsidy is given in this scheme.
