PMMY has opened channels for formal and subsidized access to credit to the youth of the country. The objective is to cater to the bottom of the pyramid and support young skilled workers to become first generation entrepreneurs and facilitate the expansion of existing small businesses, too. Each PMKKs train nearly 1000-1400 candidates per year. 25% of the trained candidates wish to open their own enterprise. Due to no formal -subsidized access to credit, many candidates, post the completion of training are unable to set up their own business.
Hence, it is desirous to have convergence between the two schemes to achieve the end objective; empower the marginalized sections of the society.