KVIC Chairman distributes margin money subsidy of Rs 299.25 Crore

In a statement, Chairman KVIC extended congratulations to Hon'ble Prime Minister Shri Narendra Modi on behalf of 'Khadi Parivar' for his third term.

In response to the formation of the third consecutive 'Modi Government' at the Center, the Khadi and Village Industries Commission (KVIC), under the Ministry of Micro, Small and Medium Enterprises, has intensified its efforts in delivering government schemes to beneficiaries. KVIC Chairman Shri Manoj Kumar, via video conference on Monday, distributed a margin money subsidy totaling Rs 299.25 crore to 7,444 units nationwide under the Prime Ministers' Employment Generation Programme (PMEGP), resulting in the creation of 81,884 new jobs.

In a statement, Chairman KVIC extended congratulations to Hon'ble Prime Minister Shri Narendra Modi on behalf of 'Khadi Parivar' for his third term. He highlighted the significance of promptly distributing the subsidy directly into beneficiaries' accounts the day after the swearing-in ceremony, illustrating the government's commitment to expedited service delivery under Prime Minister Shri Narendra Modi's leadership.

Shri Manoj Kumar outlined KVIC's plans to strengthen the 'Khadi Gram Swaraj Abhiyan' in every village, aligning with Prime Minister Shri Narendra Modi's vision of achieving 'Developed India' by 2047. KVIC is geared towards globalizing Khadi and expanding the reach and quality of products related to village industry. The distribution of Rs 299.25 crore in subsidies across all six zones, benefiting 7,444 beneficiaries, marks a significant step in this direction.

Under the Prime Ministers' Employment Generation Programme (PMEGP), KVIC has distributed subsidies as follows: Rs 75.17 crore to 2,017 beneficiaries in the Central Zone, Rs 22.92 crore to 763 beneficiaries in the Eastern Zone, Rs 91.78 crore to 2,477 beneficiaries in the North Zone, Rs 9.2 crore to 223 beneficiaries in the Northeast Zone, Rs 72.97 crore to 1,539 beneficiaries in the South Zone, and Rs 27.13 crore to 425 beneficiaries in the West Zone.

Chairman KVIC underscored the transformative impact of various Khadi and Village Industry schemes over the past decade, particularly the PMEGP, which has facilitated employment opportunities and set up cottage industries across the country. He highlighted the online process from application to subsidy issuance and shared that until the last financial year, over 9.40 lakh new projects have been set up, providing employment to more than 81.48 lakh individuals.

Furthermore, Chairman KVIC emphasized that the 'Modi Government' has played a pivotal role in promoting Khadi and Village Industry products globally, contributing to the 'New Khadi of New India' initiative and the 'Aatmanirbhar Bharat Abhiyan.' The surge in Khadi sales, accompanied by a more than 233 percent increase in artisan remuneration over the last decade, reflects the success of these endeavors. The principles of 'Vocal for Local' and 'Make in India' have also heightened Khadi's appeal among the youth.

KVIC officers and employees were present at the distribution program, underscoring the collective commitment to driving economic prosperity through Khadi and Village Industries.