New Delhi, Oct. 29 -- Union Minister for Micro, Small and Medium Enterprises Jitan Ram Manjhi released Rs 1,000 crore in margin money subsidy under the Prime Minister's Employment Generation Programme (PMEGP) to support 11,333 beneficiaries setting up new micro enterprises across India.

The subsidy will support bank-sanctioned project loans worth approximately Rs 3,260 crore and is expected to generate more than 1.02 lakh employment opportunities.

Since FY 2014-15, PMEGP has supported the establishment of more than 8.38 lakh micro enterprises through bank-sanctioned loans exceeding Rs 70,000 crore and margin money subsidies of over Rs 25,193 crore. The programme has generated approximately 75 lakh employment opportunities, according to ...