8.34 lakh MSME units aided with Rs 20,643 cr margin money subsidy under PMEGP

New Delhi, Dec 19 (KNN) Since the inception of Prime Minister’s Employment Generation Programme (PMEGP) in 2008-09, about 8.34 lakh units have been assisted with Margin Money subsidy of Rs 20,643 crore, informed Minister of State for MSME, Bhanu Pratap Singh Verma in a written reply in Rajya Sabha on Monday.

The scheme has so far helped in generating estimated employment for about 68 lakh youths across the country.

Ministry of MSME, through Khadi and Village Industries Commission (KVIC) is implementing PMEGP to facilitate generation of employment opportunities by assisting in setting up of micro-enterprises in non-farm sector.

It also implementing Scheme of Fund for Regeneration of Traditional Industries (SFURTI) since 2014-15 and till date 498 clusters have been approved with GoI commitment of Rs 1292 crore, providing sustainable employment to around 2.94 lakh artisans. 

Under this scheme it organizes traditional industries and artisans into collectives to make their products competitive and provide the artisans with sustainable employment.  (KNN Bureau)