KVIC disburses ₹100.55 cr margin money subsidy to 1463 beneficiaries under PMEGP scheme
1 min read . Updated: 08 Feb 2023, 03:32 PM IST
PremiumUnder the scheme, an entrepreneur can set up a unit at a cost of up to ₹50 lakh in the manufacturing sector and up to ₹20 lakh in the services sector
New Delhi: Khadi and Village Industries Commission (KVIC) chairman Manoj Kumar on Wednesday distributed margin money subsidy of Rs. 100.55 crore to 1,463 beneficiaries of the western Region (Goa, Maharashtra, Gujarat, Daman and Diu, Dadra-Nagar Haveli) against the sanctioned loan of ₹304.65 crore under the Prime Minister Employment Generation Programme (PMEGP) scheme.
“Khadi and Village Industries Commission through its various programs has generated employment opportunities for artisans at their door steps in remote areas at very low cost," Kumar said.
Under the Gramodyog Vikas Yojana of KVIC, efforts are being made to improve economic and social status of more and more artisans by providing advanced training and tool kits through schemes such as Kumhar Sashaktikaran Yojana, Honey Mission, Charm Karigar Sashaktikaran Yojana, Incense Sticks Making, Handmade Paper and so on.
“The Prime Minister’s Employment Generation Program of the Government of India is playing vital role in providing employment to the unemployed youth of rural and urban areas," he added.
Under the scheme, an entrepreneur can set up a unit at a cost of up to ₹50 lakh in the manufacturing sector and up to ₹20 lakh in the services sector. “For the establishment of these units, 15% to 25% of the entire project cost is provided to the beneficiaries in urban areas and 25% to 35% in rural areas as grant by the Government of India. Along with this, free entrepreneurship development training is also provided to the beneficiaries after loan approval to make them established entrepreneurs," Kumar said.
