IAS Labs by Aptness.ai
PIB digest for Wednesday, 28 October

₹1,000 Crore PMEGP Subsidy Released for Micro Enterprises

Ministry of Micro,Small & Medium Enterprises · Economy · Posted 28 OCT 2026 9:29PM

What happened

The Union Minister for MSME released ₹1,000 crore in Margin Money subsidy under the Prime Minister's Employment Generation Programme (PMEGP) to support 11,333 new micro enterprises. The initiative facilitates ₹3,260 crore in bank credit and aims to create over 1.02 lakh sustainable jobs.

Why it matters for UPSC

This release highlights government initiatives in employment generation and inclusive growth through credit-linked subsidy schemes, relevant for the UPSC syllabus under Indian Economy and Inclusive Growth.

Key objectives

  1. Released ₹1,000 crore in Margin Money subsidy to support 11,333 new micro enterprises under PMEGP.
  2. Facilitated bank-sanctioned project loans of approximately ₹3,260 crore.
  3. Expected to generate over 1.02 lakh sustainable employment opportunities, primarily in rural areas.