KVIC Boosts Rural Economy: Rs 300 Crore Disbursed To 11,480 PMEGP Beneficiaries

KVIC disburses Rs 300 crore to 11,480 PMEGP beneficiaries, boosting self-employment & rural entrepreneurship across India.

KVIC Chairman Manoj Kumar announces Rs 300 crore subsidy for 11,480 PMEGP beneficiaries, empowering rural entrepreneurs nationwide

Source : Rural areas expenses

Khadi and Village Industries Commission (KVIC) has disbursed margin money subsidy of Rs 300 crore to 11,480 service sector beneficiaries across the country under the Prime Minister’s Employment Generation Programme (PMEGP).

This disbursement was done against loan sanction of Rs 906 crore, according to Ministry of Micro, Small and Medium Enterprises.

KVIC Chairman Manoj Kumar said that under the leadership of Prime Minister Narendra Modi, the vision of 'Self-reliant and Developed India' is being recognised and PMEGP scheme has become its strong pillar.

He reiterated that this scheme is not limited to providing only financial assistance, but has also become a social movement which is connecting lakhs of youth, women and artisans with self-employment and entrepreneurship.

The role of this scheme has been significant in creating employment and self-reliance in every village, he added.

All the six zones of the country actively participated in this disbursement programme. Under the Central Zone, subsidy of Rs 72 crore was disbursed for a total of 2,403 projects in Uttar Pradesh, Madhya Pradesh, Chhattisgarh and Uttarakhand for which a total loan of Rs 218 crore was sanctioned.

In the East Zone, subsidy of Rs 22 crore was disbursed to 996 projects in Bihar, Jharkhand, Odisha, West Bengal and Andaman & Nicobar Islands while loan sanction was about Rs 71 crore.

For Punjab, Haryana, Himachal Pradesh, Jammu & Kashmir, Ladakh, Rajasthan and Union Territory Chandigarh, a total of 2,713 projects were given subsidy of Rs 61 crore and loan of Rs 184 crore was sanctioned for these projects.

The 81 projects of northeast region received subsidy of Rs 2 crore, which included states like Assam, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim and Tripura.

For Andhra Pradesh, Telangana, Karnataka, Tamil Nadu, Kerala and Puducherry, a subsidy of Rs 116 crore was disbursed covering 4,565 projects, while loans of more than Rs 343 crore were sanctioned for these projects.

In the west zone states of Maharashtra, Gujarat and Goa, a subsidy of more than Rs 26 crore was disbursed for a total of 722 projects, against the loan sanction of Rs 82 crore, informed KVIC.

(This report has been published as part of the auto-generated syndicate wire feed. Apart from the headline, no editing has been done in the copy by ABP Live.)