KVIC Chairman Distributes Margin Money Subsidy of Rs 100.55 cr in West Zone Under PMEGP Scheme

According to Manoj Kumar, efforts are being made under the Gramodyog Vikas Yojana of KVIC to improve the 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.

Taking another step towards self-sufficiency in India, Manoj Kumar, Chairman of Khadi and Village Industries Commission, distributed a margin money subsidy of Rs 100.55 crore to 1463 beneficiaries of the Western Region (Goa, Maharashtra, Gujarat, Daman and Diu, Dadra-Nagar Haveli) against a sanctioned loan of Rs 304.65 crore, of which a margin money grant of Rs 24.38 crore was distributed to 654 beneficiaries of Maharashtra state under PMs' Employment Generation Scheme, an employment-oriented flagship scheme of Government of India, implemented by KVIC.

Chairman KVIC encouraged the beneficiaries to run their units successfully in order to build a prosperous, strong, self-reliant, and happy nation. This would motivate the unemployed youth fulfil the Prime Minister of the country's vision of self-reliant India, Narendra Modi's motto, "instead of job seeker, be a job provider". It is worth noting that the Government of India's Prime Minister's Employment Generation Program is playing an important role in providing employment to unemployed youth in rural and urban areas.

Any entrepreneur can set up a unit worth up to Rs 50 lakh in the manufacturing sector and up to Rs 20 lakh in the service sector under this scheme. The Government of India grants beneficiaries 15% to 25% of the total project cost in urban areas and 25% to 35% in rural areas for the establishment of these units. In addition, after loan approval, beneficiaries receive free entrepreneurship development training to help them become established entrepreneurs.

During the programme, Chairman KVIC interacted with Khadi and Village Industries artisans, organisation representatives, and entrepreneurs in a "Khadi Samvad" discussion organised to promote ongoing Khadi and Village Industries activities in the area, and had lunch in a festive atmosphere.

On this occasion, state dignitaries, PMEGP beneficiaries, representatives from Khadi and Village Industries Institutions, and KVIC officers were present.