Prime Minister's Rozgar Yojana and its Impact on Entrepreneurial Development

Abstract

Since 1970s, when poverty alleviation became the first item in our National agenda, a number of employment generation programmes are being given a fair trial. The TRYSEM (Training for Rural Youth for self-employment) and SEEUY (Scheme for Providing self-Employment to Educated Unemployed Youth) 'perhaps the biggest experiment by any nation" are a class by themselves. The schemes brought to fore the need for and virtues of self-employment. Such employment cater to the requirements of the educated unemployed, help the building up of a stock of enlightened entrepreneurs and act as a bulwark for economic, social and political democracy. Above all, self-employment promotion schemes are finely in tune with the New Economic Policy (NEP) as well. It was in this background that Prime Minister Mr.P.V. Narasimha Rao announced from the rampart of Red Fort on 15th August 1993 the Prime Minister's Rozgar Yojana (P.M.R.Y). The aim of the schemes is to provide self-employment to 10 lakh educated youths of the country through setting up 7 lakh micro enterprises during the Eighth Plan Period. The scheme is being implemented from second October 199, by the District Industries Centre (DIC) in collaboration with the Commercial Banks.