KVIC disburses margin money subsidy of Rs 300 crore to 8,794 beneficiaries
Khadi and Village Industries Commission (KVIC) on Thursday said it has disbursed margin money subsidy of Rs 300 crore to 8,794 beneficiaries across the country under the Prime Minister’s Employment Generation Programme (PMEGP).
The disbursement was made against loan sanction of about Rs 884 crore, said KVIC which comes under the Ministry of Micro, Small and Medium Enterprises.
KVIC Chairman Manoj Kumar said that under the visionary leadership and guidance of Prime Minister Narendra Modi, PMEGP scheme has presently created a strong and effective base of self-employment in India.
“Khadi and Village Industries is not just a product today, but it is the essence of vision of Aatmanirbhar Bharat. This scheme has not only provided employment to lakhs of youth, but has also connected them with the power of entrepreneurship,” he added,
All the six zones of the country actively participated in the disbursement programme.
In total, 2,445 projects were approved for Andhra Pradesh, Telangana, Karnataka, Tamil Nadu, Kerala, Puducherry of South Zone, for which subsidy of Rs 80.26 crore was disbursed.
In the Central Zone, subsidy of Rs 91.13 crore was disbursed for 2,366 projects of Uttar Pradesh, Madhya Pradesh, Chhattisgarh and Uttarakhand.
A subsidy of Rs 62.68 crore was provided to a total of 2,167 projects in Eastern Zone for Bihar, Jharkhand, Odisha, West Bengal and Andaman and Nicobar and Assam, Manipur, Meghalaya, Mizoram and Tripura in the Northeast.
A subsidy of Rs 41.80 crore was given for 1,320 projects of Haryana, Himachal Pradesh, Jammu and Kashmir, Ladakh, Punjab, and Rajasthan in the northern region.
At the same time, 496 projects in Gujarat, Maharashtra, and Goa of the Western region received a subsidy of Rs 24.12 crore.
Since its beginning till the financial year 2024-25, PMEGP has become a pillar of entrepreneurship and self-reliance in rural and urban India.
A total of 10,18,185 micro enterprises have been established under the scheme so far, for which the government has sanctioned a loan of Rs 73,348.39 crore.
In return, margin money subsidy of Rs 27,166.07 crore has been provided to the beneficiaries.
So far, more than 90,04,541 people across the country have got direct and indirect employment through this scheme, which makes it one of the most effective self-employment schemes in the country.
