KVIC disburses margin money subsidy of Rs 300 crore to 8,794 beneficiaries
Mumbai: Khadi and Village Industries Commission (KVIC) on Thursday said it has disbursed margin money subsidy of Rs 300 crore to 8,794 beneficiaries across the country under the Prime Minister's Employment Generation Programme (PMEGP).
The disbursement was made against loan sanction of about Rs 884 crore, said KVIC which comes under the Ministry of Micro, Small and Medium Enterprises.
KVIC Chairman Manoj Kumar said that under the visionary leadership and guidance of Prime Minister Narendra Modi, PMEGP scheme 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 youth, but has also connected them with the power of entrepreneurship,' he added,
All the six zones of the country actively participated in the disbursement programme.
In total, 2,445 projects were approved for Andhra Pradesh, Telangana, Karnataka, Tamil Nadu, Kerala, Puducherry of South Zone, for which subsidy of Rs 80.26 crore was disbursed.
In the Central Zone, subsidy of Rs 91.13 crore was disbursed for 2,366 projects of Uttar Pradesh, Madhya Pradesh, Chhattisgarh and Uttarakhand.
A subsidy of Rs 62.68 crore was provided to a total of 2,167 projects in Eastern Zone for Bihar, Jharkhand, Odisha, West Bengal and Andaman and Nicobar and Assam, Manipur, Meghalaya, Mizoram and Tripura in the Northeast.
A subsidy of Rs 41.80 crore was given for 1,320 projects of Haryana, Himachal Pradesh, Jammu and Kashmir, Ladakh, Punjab, and Rajasthan in the northern region.
At the same time, 496 projects in Gujarat, Maharashtra, and Goa of the Western region received a subsidy of Rs 24.12 crore.
Since its beginning till the financial year 2024-25, 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 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.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hans India
28 minutes ago
- Hans India
SIT finds liquor scam links to 2024 MP candidates
Tirupati: The ongoing investigation into the sensational liquor scam in the State has taken a significant political turn, with the Special Investigation Team (SIT) reportedly uncovering fresh links involving candidates who contested the 2024 Lok Sabha elections. It was learnt that the SIT has found evidence suggesting that liquor money was allegedly routed to certain MP candidates during the general elections. The funds were reportedly funnelled by the prime accused, Raj Kasireddy, through his driver, and delivered to political candidates via their own drivers or gunmen. In a bid to dig deeper into these alleged connections, a SIT team recently camped in Tirupati for two days. During their stay, officials questioned several individuals and reportedly gathered crucial evidence to support the emerging claims. The probe is now intensifying, focusing on the origin of the funds used for distributing cash and other inducements to voters during the elections. Investigators are said to be tracing both the source and the flow of this money. In the midst of these developments, former Chandragiri MLA and YSR Congress Party's Ongole MP candidate in the last elections, Chevireddy Bhaskar Reddy, has publicly claimed that attempts werre being made to implicate him in the case. Speaking to the media on Thursday and Friday, Chevireddy maintained his innocence and declared he was ready to cooperate with any investigation. He alleged that the SIT had coerced a former Armed Reserve constable named Giri, who once served as his gunman, into making a false statement against him. 'When I served as government whip, constable Giri worked with me. The SIT summoned him and interrogated him for five days. They pressured him to falsely claim that I moved funds ranging from Rs 250 crore to Rs `500 crore. If they want to arrest me, there's no need for battalions. I'll surrender voluntarily if called. The truth will come out in court,' Chevireddy stated. He further alleged that his associate, Venkateswar Naidu, was also being subjected to harsh interrogation by the SIT in an attempt to extract a statement implicating him. Chevireddy urged investigators to question him directly rather than harassing those associated with him. He also reiterated his long-standing opposition to liquor, citing personal loss due to alcohol. 'I lost both my father and brother to alcohol. I have no association with liquor and I never will,' he asserted. As the SIT's probe deepens, more names from the political and administrative spheres are expected to emerge. With multiple layers being peeled back, the scandal is fast becoming one of the most politically charged controversies in the State's recent history.
The Hindu
34 minutes ago
- The Hindu
Small gold loan LTV increased to 85% from 75%
The Reserve Bank of India (RBI) has decided to increase the loan to value (LTV) amount for small gold loans of up to ₹2.5 lakh from one borrower from 75% to 85% including interest, RBI Governor Sanjay Malhotra said on Friday. He said the final directions on loans given against gold as collateral would be issued on Friday or on Monday. 'First of all the direction was only a draft, it was not final. There is nothing new in the draft direction, it is a consolidation of past regulations and we have recreated it. It was observed that some regulated entities (REs) were not implementing it because it lacked clarity. Because now everything is in black and white, that is why we have been getting comments,' the governor said. He said the draft makes it clear that at the absence of invoice, one can give a self-declaration and there was no need to worry in that front. More clarity will be provided on the final direction as and when it is published, he said. 'On credit appraisal, it will not be applicable for small loans of upto Rs 2.5 lakh if gold is pledged. End use will only be monitored if benefit is being taken under priority sector lending,' he clarified. He said the LTV formula will be applicable on consumption loans and not on others. 'Today LTV is 75%. For small loans we have increased it to 85% including interest for loans below Rs 2.5 lakh per borrower,' he said.
Indian Express
42 minutes ago
- Indian Express
Mukesh Ambani to give Rs 151 crore grant to his alma mater ICT in Mumbai
Mukesh Ambani, Chairman and Managing Director of Reliance Industries, has announced an unconditional grant of Rs 151 crore to his alma mater, the Institute of Chemical Technology (ICT), Mumbai. The announcement was made during his visit to the institute for the launch event of a biography titled Divine Scientist, chronicling the life and work of his former mentor, Professor M.M. Sharma. Ambani, who graduated from the institute in the 1970s when it was known as the University Department of Chemical Technology (UDCT), paid tribute to Prof. Sharma. Recalling his first lecture, Ambani said it left a lasting impression on his academic and professional journey. He praised Prof. Sharma not only as an academic giant but also as a quiet architect of India's economic liberalisation. 'Like my father, Dhirubhai Ambani, he had a burning desire to transform Indian industry — from a system of scarcity to global leadership,' Ambani remarked. 'These two visionaries believed that science, technology, and private enterprise could open the gates to national prosperity,' he added. Ambani described Sharma as a 'Rashtra Guru – a Guru of Bharat,' and credited him for influencing policymakers to dismantle the license-permit raj, enabling Indian industries to scale up, reduce imports, and compete globally. The Rs 151 crore donation was made in honor of Prof. Sharma's request. 'When he tells us something, we just listen. We don't think. He told me, 'Mukesh, you have to do something big for ICT.' This is my Guru Dakshina,' Ambani said. The contribution is expected to significantly strengthen ICT's research infrastructure and global collaborations.
