Prime Minister’s Employment Yojana (P M EY)
Prime Minister Employment Yojana for providing self-Employment to Educated Unemployed Youth was announced by the Prime Minister on 15th August, 1993 to provide self-employed opportunities to one million educated unemployed youth in country. The Scheme has been formally launched on 2nd October, 1993.
Objectives:
The PMEY has been designed to provide employment to more than a million Person by setting up of 7 lakhs micro enterprises by the educated unemployed youth. It relates to the setting up of the self-employment ventures through industry, service and business routes. The scheme also seeks to associate reputed non-governmental organizations in implementation PMEY scheme especially in the selection, training of entrepreneurs and preparation of project profiles.
Educated constitute nearly 40% of the unemployed. Incidence of unemployment among the educated lab our force is 11.8% against 3.8% for educated and uneducated taken together. Further, the incidence is much higher viz. 26.7% among women than 9.8% among educated men. Women constitute 27% of the educated unemployed level of education. Projection made using alternative techniques put the estimate of educated unemployed at 6-7 million in 1992. This is out of an estimated educated labour force of 52 million. Of the mew employment opportunities that are being generated in the economy in recent years, about 45 per cent are estimate to be going to the educated. But, though relatively high, the employment growth of the educated still falls short of the growth of labour force by about 7 lakhs in a year. The trend of a higher growth of their employment is likely to continue with the introduction of modern technologies There may, in fact be a shift towards employment of the educated in the activities which hitherto were the preserve of the uneducated. Hence, the problem of the educated needs a special focus within the overall strategy for tackling unemployment. Prime Minister’s Employment Yojana (PMEY) seeks to address itself to this problem.