Padmalochan Becomes Self-Reliant Through Prime Minister’s Employment Generation ProgrammeLaunches His Own Hairdressing Salon

Mahasamund : The Prime Minister’s Employment Generation Programme (PMEGP) is a significant initiative aimed at empowering the youth of the country by enabling them to become self-reliant. The scheme provides financial assistance to individuals starting small businesses, thereby encouraging self-employment. One such success story is that of Mr. Padmalochan Barik, a resident of Saraipali block, who achieved success through his hard work and determination, supported by the assistance he received under this scheme.

After completing his postgraduate education, Padmalochan began exploring self-employment opportunities. During this period, he learned about the PMEGP through the Chhattisgarh Khadi and Village Industries Department. Inspired by the scheme, he decided to start a hairdressing and salon business. Following the required procedures, he applied for a loan, which was approved by the State Bank of India, Saraipali branch. The bank sanctioned a project cost of ₹3,68,400, of which 25% was provided as a subsidy. With this amount, he purchased the necessary tools and equipment to set up his salon.

Thanks to the PMEGP, Padmalochan not only became self-employed but is now earning a steady monthly income of ₹30,000 to ₹35,000 and is regularly repaying his loan installments on time.

It is noteworthy that the PMEGP is a flagship scheme implemented under the Ministry of Micro, Small & Medium Enterprises (MSME). The scheme aims to generate self-employment opportunities for unemployed youth, offering subsidies of up to 35% in rural areas and 25% in urban areas, enabling individuals to start their own businesses.