Current Affairs · Government Scheme Eligibility
An entrepreneur established a high-tech manufacturing unit for drone components with an initial project cost of 6 crore. After one year of operations, the unit recorded a turnover of 12 crore. The entrepreneur now wants to apply for a subsidy under the PMEGP scheme for a new vertical in solar panel assembly. However, the bank informs the entrepreneur that they might not be eligible for a new PMEGP grant. Evaluate the scenario and identify the primary reason for the ineligibility regarding a new project.
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1The entrepreneur has already taken a loan of 5 crore, which is above the PMEGP ceiling.
- 2Tier-2 cities are not eligible for PMEGP subsidies as it is a rural-only scheme.
- 3PMEGP is only for units with a project cost up to 50 lakh in manufacturing.✓
- 4The turnover of the existing unit exceeds the MSME micro-enterprise limit.
Correct answer
PMEGP is only for units with a project cost up to 50 lakh in manufacturing.
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