When was the Prime Minister's Rozgar Yojana (PMRY) launched?

Correct option is D

​The correct answer is (d) 1993​

Explanation:

• The Prime Minister's Rozgar Yojana (PMRY) was indeed launched in 1993.
• It is a significant scheme introduced by the Government of India with the goal of providing self-employment opportunities to the educated unemployed youth in rural and urban areas.
• The scheme was designed to encourage small-scale businesses and enable beneficiaries to start their own ventures.
  

Information Booster:

Key Features of PMRY:

1. Target Group: The scheme primarily targeted educated unemployed youth, especially those between the ages of 18 and 35 years. It also aimed to assist women, scheduled castes, and scheduled tribes in starting small-scale businesses.

2. Financial Assistance: Under the PMRY, financial assistance was provided in the form of loans for setting up small businesses. The loan amount could vary, but generally, it was up to ₹2 lakh for manufacturing units and ₹1 lakh for service or business units. The loan was given at a subsidized interest rate.

3. Support & Training: Beneficiaries were given assistance in terms of training and guidance to enhance their entrepreneurial skills. This included help with project preparation, loan processing, and business operations.

4. Objectives:

   • To reduce unemployment by fostering self-employment.
   • To promote entrepreneurship in rural and urban sectors.
   • To enhance the overall economic development of the country by creating small enterprises.

5. Implementation: The scheme was implemented through various financial institutions, including public sector banks and regional rural banks, in collaboration with state governments.