THE ROLE OF COMMERCIAL BANKS IN PRIME MINISTER EMPLOYMENT GENERATION PROGRAM SCHEME: A STUDY IN THE CONTEXT OF BIHAR

Author Name: Mr. Rakesh Kumar

Volume: 01 &  Issue:

Country: Mr. Rakesh Kumar

DOI NO.: 08.2020-25662434 DOI Link: http://www.doi-ds.org/doilink/03.2021-62468883/UIJIR

Affiliation:

1. Research Scholar, University department of economics, L.N.M.U., Darbhanga, Bihar, India

ABSTRACT

Various types of schemes have been run by the Government of India from time to time to encourage entrepreneurship and alleviate youth unemployment, one of which is the Prime Minister Employment Generation Program Scheme. The scheme was launched in the year 2008 by combining two schemes, the Rural Employment Generation Program and the Prime minister employment scheme (Pradhan Mantri Rojgar Yojana). The success of the Prime Minister Employment Generation Program depends on banking facilities. Entrepreneurs face a lot of problems due to banking inconvenience. The subsidy amount is not available to most of the beneficiaries. Most of the applications that come to the banks are rejected, due to which unemployed educated youth are not able to become entrepreneurs, that is, they are not able to take advantage of the employment generation program scheme. Therefore, the flexibility of banking facilities is absolutely essential for the success of the scheme. Secondary data has been used in the research paper. Secondary data is collected from KVIC, District Industries Center and Bihar Economic Survey. The data has been analyzed through graphs and charts. The area of research study is Bihar and study year 2011-12 to 2015-16 has been taken.

Key words: Unemployment,bank,prime minister employment generation program etc.