New business? Avail 35% subsidy on loans and boost your startup

Good news for aspiring entrepreneurs! The central government has launched an excellent scheme to encourage young entrepreneurs. You can receive a subsidy of up to 35% on the loan amount. Let's explore more details about this amazing scheme.

Ajay Joseph | Published : Jan 31 2025, 11:46 AM

1 Min read

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Youngsters prefer business over jobs due to low salaries and long hours. The government's PMEGP scheme encourages this trend.

Apply through the PMEGP scheme for a 35% subsidy on your business loan. A well-prepared project report is crucial for loan approval.

Banks offer up to Rs 10 lakhs loan for service sector businesses under the PMEGP scheme with a potential 35% subsidy.

Up to Rs 25 lakhs loan is available for manufacturing businesses under PMEGP, also with a potential 35% subsidy. Also read: Create a home theater for Rs 3,999!

PMEGP isn't just for startups; existing businesses can also use it for expansion. Contact your nearest bank for details and application.

About the Author

Ajay Joseph

With over eight years of journalistic experience, Ajay Joseph Raj. P has been a dedicated member of the Asianet Newsable team, where he serves as the Chief Copy Editor. His expertise spans Business, Career, Stock Market, National, International, and viral/trending topics, with a knack for crafting compelling narratives that connect with diverse audiences. Before joining Asianet Newsable, Ajay honed his skills at OneIndia News and Opoyi English, gaining extensive experience in delivering impactful stories across various beats. Read More...

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