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Pradhan Mantri Rozgar Yojana – PMRY

About Pradhan Mantri Rozgar Yojana Scheme

As a means to promote self-reliance and generate employment, the Government of India has launched multiple schemes and programmes. Pradhan Mantri Rozgar Yojana is one of such schemes formulated to provide monetary assistance to the youth of India and the organised sector in general.

To become a beneficiary of the PMRY, find out more about this scheme and its offerings.

What is Pradhan Mantri Rozgar Yojana – PMAY ?

Pradhan Mantri Rozgar Yojana is a government-backed scheme that was launched to promote self-employment. It is targeted towards benefiting the educated unemployed youth of India. Under this scheme, eligible candidates can avail financial assistance to set up their manufacturing or trade business or a start-up. Under the Ministry of Small Scale, Rural, and Agro Industries, the Development Commissioner is the regulatory body for this scheme.

PMRY scheme aims to incentivise employers to generate more employment and provide workers unrestricted access to social security benefits common within the organised sector. Moreover, under this scheme, the government has decided to pay for the employer’s contribution towards EPS and EPF. 

Features & Benefits of PMRY Scheme

The features and benefits of Prime Minister Rozgar Yojana –

Feature Description
Implementation This scheme is implemented at the state level with the help of banks, Directories of Industries and District Industry Centres.
Collateral Prime Minister Yojana offers the eligible candidate a loan of maximum Rs.1 lakh without any collateral.
Tenor Beneficiaries can avail an extended PMRY loan repayment tenor ranging from 3 years to 7 years.
Training facility Borrowers are also entitled to receive 15-20 days of training under this scheme. The training is mostly aimed at educating about the basics of setting up a business and making sound investments.
Subsidy Prime Minister Rozgar Yojana Scheme also extends subsidy to qualified individuals. They can receive 16% of the project in question’s cost as a subsidy. However, the upper limit for the project cost is set at Rs.12500 per individual.
EMI Beneficiaries have the option to receive a PMRY loan in the form of EMIs. They can also choose to repay the sanctioned loan in monthly instalments.


Note that the State Lever PMRY Committee monitors the progress of this scheme. Also, this scheme is implemented in all Indian cities except – Mumbai, Delhi, Kolkata and Chennai. 

Documents & Eligibility Requirements for PMRY scheme

To become a beneficiary of this scheme, meet its eligibility criteria and submit the required documents.

  1. Eligibility Criteria for Pradhan Mantri Rozgar Yojana

To qualify for a PMRY loan, meet these criteria –

  • Applicants should be between the age of 18 years and 35 years.
  • Applicants should have passed at least the 8th standard. Individuals who had received training for the field of trade from a government recognised institution will be given more preference among applicants.
  • Their annual family income (inclusive of spouse and parents’ income) should not exceed Rs.40,000.
  • Applicants should be permanent residents of the given region and must have stayed there for a minimum of 3 years.
  • Must not be a beneficiary of other government backed-subsidy programmes.
  • They must not have any default history. 

Note that SC/ST candidates, ex-servicemen, physically challenged individuals, and women can avail relaxation of 10 years in the age criteria. Also, the upper age limit for the residents of North Eastern States is set at 40 years, while women, physically handicapped, ex-servicemen, and SC/ST applicants would be considered eligible for up to 45 years.

  1. Documents Required for Pradhan Mantri Rozgar Yojana

Submit these documents to avail this government-backed scheme –

  • Proof of residence - ration card, Aadhaar card, passport, etc.
  • Proof of date of birth  - birth certificate, TC from school, SSC certificate, etc.
  • Driving license
  • Technical certificate, qualification certificate, etc.
  • EDP training certificate
  • A copy of the proposed project

Find out the online application process of Pradhan Mantri Yojana for unemployed youths in advance to apply for it without any hassle.

How to Apply for the PMRY Loan ?

Apply for PMRY online by following these steps –

Step 1 – Visit PMRY’s official website

Step 2 – Download PMRY’s application form.

Step 3 – Fill up the form with the required information.

Step 4 – Scan and upload essential documents and attach them to the application form.

Step 5 – Submit the duly filled application form along with required documents to the designated bank/financial institution. 

After these steps are complete, an executive from the bank will share loan-related details.

Note that Pradhan Mantri Rozgar Yojana now includes allied activities. It also covers agriculture except for activities directly related to the purchase and use of manure, producing crops, etc. To make the most of this scheme, make sure to check its limitations and exclusions in detail.

You can opt for Loan against property from Bajaj Housing Finance by mortgaging your residential or commercial property.