KVIC Distributes Rs 299 Cr Subsidy to Boost Employment Under PMEGP Scheme

New Delhi, Jun 11 (KNN) The Khadi and Village Industries Commission (KVIC) has distributed a subsidy of Rs 299.25 crore to 7,444 units across the country under the Prime Minister's Employment Generation Programme (PMEGP).

This massive subsidy disbursement is expected to create 81,884 new jobs.

The distribution was announced on Monday by KVIC Chairman Shri Manoj Kumar through a video conference.

He congratulated Prime Minister Narendra Modi on his third term in office and stated that the swift subsidy disbursal is a sign that government schemes will be delivered at an accelerated pace under Modi's leadership.

The PMEGP scheme provides margin money subsidy to help establish cottage industries and generate employment opportunities.

The recently distributed funds include Rs 75.17 crore for 2,017 beneficiaries in the Central Zone, Rs 22.92 crore for 763 beneficiaries in the Eastern Zone, and similar allocations for the other zones.

Since its inception, the PMEGP scheme has facilitated the establishment of 9.4 lakh new projects nationwide, providing employment to over 81.48 lakh individuals.

The government has distributed a total subsidy of more than Rs 24,520 crore under the scheme until the last financial year.

The KVIC Chairman emphasised the Modi government's commitment to promoting Khadi and village industries, positioning them as integral to the 'Aatmanirbhar Bharat Abhiyan' (Self-Reliant India Campaign).

He stated that the increased production and sales of Khadi products have contributed to the economic prosperity of rural artisans, with their remuneration increasing by over 233 percent in the last decade.

(KNN Bureau)