Mughashe Assumi, Branch Manager, SBI Main Branch Zunheboto along with others at PMEGP Awareness Programme at DIC Zunheboto on January 20. (Morung Photo)
Morung Express News
Zunheboto | January 20
The District Industries Centre (DIC), Zunheboto organised the Prime Minister’s Employment Generation Programme Awareness Programme at the DIC office on January 20 to sensitise aspiring entrepreneurs on self-employment opportunities and enterprise development.
Er. N. Toky Chishi, General Manager, DIC Zunheboto, clarified that the common perception of PMEGP being a “35 per cent subsidy scheme” is a misconception. He said that Entrepreneurship Development Programme (EDP) training is mandatory to avail subsidy under the scheme. Highlighting the growing number of educated unemployed youth, he stated that academic degrees alone do not guarantee livelihood and stressed the need for skill development. He encouraged participants to acquire proper knowledge before venturing into any business, stating that PMEGP is one of the best schemes available to promote entrepreneurship and job creation.
HV Achumi sharing his entrepreneurial journey, a representative from V Enterprise, Zunheboto, narrated his and his brother's success story in the chow manufacturing business. He said he spent three months closely observing the manufacturing process before starting the venture. In 2023, he began acquiring machines and gradually expanded the business. He’s one of the youngest entrepreneurs from Northeast
Nagaland India At present, the unit employs 10 workers and produces four to five bags of flour per day, with each bag weighing 45 kilograms. The products are supplied to Tuensang, Kiphire, Dimapur and Kohima. He said upgrading machinery through loans helped improve production capacity and encouraged aspiring entrepreneurs to start small, remain patient and never give up. And quoting Proverbs 3:6 “Put God first” as one of the bible verses he is always up to.
Mughashe Assumi, Branch Manager, SBI Main Branch Zunheboto, who attended as a guest speaker, informed that PMEGP subsidy stands at 25 per cent for urban areas and 35 per cent for rural areas, with an interest rate of 11.15 per cent. He stated that the subsidy component is locked for a minimum period of three years. Emphasising financial discipline, he said many businesses fail due to poor management, improper cash handling and mixing of family and business finances. He cautioned that PMEGP is not free money but a support mechanism, and loans must be repaid on time. He advised entrepreneurs to maintain separate bank accounts for personal and business use, reinvest profits for growth, maintain a good CIBIL score and never miss EMI payments. He also stressed the importance of keeping reserve funds for machinery repairs and business sustainability.
The programme began with an invocation by Vihuli Assumi, HA Chairperson, Ikupu Tuccu, Inspector, and concluded with a benediction by Kihito FM.
