MUMBAI, 5 Jun: The Khadi and Village Industries Commission (KVIC) disbursed margin money subsidy of Rs 300 crore to 8,794 beneficiaries across the country on Tuesday under the Prime Minister’s Employment Generation Programme (PMEGP).
This disbursement was made against loan sanction of about Rs 884 crore.
Releasing the subsidy to the beneficiaries through the virtual mode from the KVIC central office here, KVIC Chairman Manoj Kumar said that the PMEGP has presently created a strong and effective base of self-employment in India.
“Khadi and Village Industries is not just a product today, but it is the essence of vision of Aatmanirbhar Bharat. This scheme has not only provided employment to lakhs of youths, but has also connected them with the power of entrepreneurship,” the KVIC chairman said.
Since its beginning till the financial year 2024-25, the PMEGP has become a pillar of entrepreneurship and self-reliance in rural and urban India. A total of 10,18,185 micro enterprises have been established under the scheme so far, for which the Government of India has sanctioned a loan of Rs 73,348.39 crore. In return, margin money subsidy of Rs 27,166.07 crore has been provided to the beneficiaries.
So far, more than 90,04,541 people across the country have got direct and indirect employment through this scheme, which makes it one of the most effective self-employment schemes in the country, said a KVIC release.
