Central government's Ministry of Skill Development and Entrepreneurship had proposed PM Umeed Scheme back in 2020 to promote entrepreneurship among youth. Umeed stands for Udyam Mitra Excellence in Entrepreneurship Development. Even in 2026, this scheme has not been officially launched or notified on any government scheme portal.
Update for readers: PM Umeed Scheme was reported by media in late 2020 as a proposal under discussion between ministries. There is no official notification, press release, or listing for this scheme on myScheme.gov.in, PIB, or the Ministry of Skill Development and Entrepreneurship (MSDE) website till date. The scheme appears to have been shelved or merged into other entrepreneurship schemes. Details below are based on the original draft plan, along with the current status found through 2026 research.
PM Umeed Scheme 2026
As per the original draft, PM Udyam Mitra Excellence in Entrepreneurship Development (PMUmeed) Scheme was meant to give training to more than 3 lakh youth to become entrepreneurs over 5 years. It was planned to help these entrepreneurs get loans and connect them with markets, so they could also create jobs for others.
What Was Planned in PM Umeed Scheme
PM Umeed Scheme was meant to be a demand driven scheme, where states would identify possible entrepreneurs and ventures for support. Support was planned for 18 months after a 2 month entrepreneurship training. Training was to be given at 610 entrepreneurship development centres set up at district level. Three out of every four people selected for training were to be new entrepreneurs, while the rest would be people already running a business but struggling to grow it.
After training, entrepreneurs were to be linked with markets and banks or credit institutions for raising money. They were also to be connected with a digital aggregator platform for entrepreneur related services. This part of the plan never moved past the draft stage.
Current Status in 2026
Ministry of Skill Development and Entrepreneurship's recent annual reports and year end reviews list schemes such as STRIVE and SANKALP for entrepreneurship support, along with skill training schemes like Pradhan Mantri Kaushal Vikas Yojana (PMKVY) 4.0. PM Umeed or PMUmeed does not figure in any of these official documents. This means the scheme, at least under this name, has not gone live even after more than 5 years since it was first reported.
Anyone looking for entrepreneurship support in 2026 should instead check active government schemes. For business loans without collateral, Pradhan Mantri Mudra Yojana remains open and offers loans up to ₹20 lakh to small entrepreneurs. For skill and entrepreneurship training, PMKVY 4.0 and MSDE's STRIVE and SANKALP schemes are the ones currently running.
| Detail | Information |
|---|---|
| Scheme Name | PM Umeed Scheme (PM Udyam Mitra Excellence in Entrepreneurship Development) |
| Proposed By | Ministry of Skill Development and Entrepreneurship |
| First Reported | November 2020 |
| Current Status (2026) | Not officially launched, not listed on myScheme.gov.in or PIB |
| Planned Beneficiaries | Youth aged 18 to 35 (as per original draft) |
| Active Alternatives | PMKVY 4.0, STRIVE, SANKALP, Pradhan Mantri Mudra Yojana |
| Official Website | msde.gov.in |
Source of Original Report
Original details about PM Umeed Scheme were first reported through media coverage of the draft proposal being discussed among ministries. Readers can also refer to msde.gov.in for updated lists of entrepreneurship schemes actually running under Ministry of Skill Development and Entrepreneurship.
Source / Reference Link: https://www.timesnownews.com/business-economy/economy/article/govt-to-launch-new-scheme-to-help-create-more-entrepreneurs-as-pandemic-takes-toll-on-job-market/699195
FAQ's
Has PM Umeed Scheme been launched?
No. As of 2026, PM Umeed Scheme has not been officially launched or notified by the central government. It remains a draft proposal first reported in 2020.
What was PM Umeed Scheme meant to do?
It was planned to train around 3 lakh youth to become entrepreneurs over 5 years, through 610 district level entrepreneurship development centres, and connect them to loans and markets.
Which government schemes can I apply for instead?
Pradhan Mantri Mudra Yojana offers business loans up to ₹20 lakh without collateral. PMKVY 4.0, STRIVE, and SANKALP are active skill and entrepreneurship development schemes run by Ministry of Skill Development and Entrepreneurship.
Where can I check updates on PM Umeed Scheme?
Official updates, if any, would appear on msde.gov.in or myscheme.gov.in. This page will be updated if the scheme gets an official launch.