Has KVIC Disbursed Over Rs 300 Crore in Subsidies to 11,480 Service Sector Beneficiaries?
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Synopsis
In a significant boost for self-employment, KVIC has disbursed over Rs 300 crore in subsidies to thousands in the service sector. This initiative is reshaping the economic landscape by empowering youth and artisans. Discover how this program is fostering entrepreneurship and creating jobs across India.
Key Takeaways
- KVIC allocates Rs 300 crore for service sector beneficiaries.
- 11,480 individuals received financial support through PMEGP.
- The scheme fosters self-employment and entrepreneurship.
- Subsidies are distributed across all six zones of India.
- KVIC's initiatives contribute to national economic development.
New Delhi, June 18 (NationPress) The Khadi and Village Industries Commission (KVIC) has successfully allocated a margin money subsidy of Rs 300 crore to 11,480 service sector beneficiaries nationwide as part of the Prime Minister's Employment Generation Programme (PMEGP). This allocation corresponds to a total loan sanction of Rs 906 crore, as reported by the Ministry of Micro, Small and Medium Enterprises.
KVIC Chairman Manoj Kumar stated that under the guidance of Prime Minister Narendra Modi, the vision for a 'Self-reliant and Developed India' is gaining traction, with the PMEGP scheme serving as a vital component.
He emphasized that this initiative extends beyond mere financial assistance, evolving into a social movement that connects countless youth, women, and artisans with opportunities for self-employment and entrepreneurship.
The scheme has played a crucial role in fostering employment and self-sufficiency in villages across the nation, he added.
All six geographical zones of the country actively contributed to this subsidy disbursement program. In the Central Zone, a subsidy of Rs 72 crore was allocated for 2,403 projects in Uttar Pradesh, Madhya Pradesh, Chhattisgarh, and Uttarakhand, with loans totaling Rs 218 crore.
The East Zone saw a subsidy of Rs 22 crore distributed to 996 projects in Bihar, Jharkhand, Odisha, West Bengal, and the Andaman & Nicobar Islands, with loan sanctions near Rs 71 crore.
For the regions of Punjab, Haryana, Himachal Pradesh, Jammu & Kashmir, Ladakh, Rajasthan, and the Union Territory of Chandigarh, 2,713 projects received a subsidy of Rs 61 crore, with sanctioned loans amounting to Rs 184 crore.
The northeast region received a subsidy of Rs 2 crore for 81 projects, covering states such as Assam, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim, and Tripura.
In Andhra Pradesh, Telangana, Karnataka, Tamil Nadu, Kerala, and Puducherry, a total subsidy of Rs 116 crore was allocated for 4,565 projects, with loans exceeding Rs 343 crore.
In the western zone, including Maharashtra, Gujarat, and Goa, a subsidy of over Rs 26 crore was allocated for 722 projects, against loan sanctions of Rs 82 crore, as reported by KVIC.
Point of View
It is imperative to acknowledge KVIC's significant strides in promoting self-employment and entrepreneurship through the PMEGP scheme. This initiative reflects the government's commitment to empowering citizens and fostering economic growth on a national scale. The impact of such programs is profound, resonating with the aspirations of many across the country. We stand with the nation in supporting these transformative efforts.
NationPress
18/06/2025
Frequently Asked Questions
What is the PMEGP scheme?
The Prime Minister's Employment Generation Programme (PMEGP) is a credit-linked subsidy scheme aimed at generating self-employment opportunities through the establishment of micro-enterprises.
How much subsidy has KVIC disbursed?
KVIC has disbursed a total subsidy of Rs 300 crore to 11,480 beneficiaries in the service sector.
Which regions were included in the subsidy distribution?
The subsidy was distributed across all six zones of India, including Central, East, West, North, South, and Northeast.
Who benefits from the PMEGP?
The PMEGP primarily benefits youth, women, and artisans by providing them with financial support to start their own businesses.
What is the role of KVIC in this program?
KVIC is responsible for implementing the PMEGP, providing financial assistance and promoting entrepreneurship across the country.
