Latest news with #PrimeMinisterEmploymentGenerationProgramme
Hans India
25-07-2025
- Business
- Hans India
Promote industrial growth extensively
Nellore: District Collector O Anand has directed the officials to ensure establishment of more industries to generate employment to the unemployed youth in the district. Addressing the District Industries and Export Promotion Committee (DIEPC) meeting, the Collector has disclosed that as many as 1,616 applications against total 1,700 received under Single Desk Portal (SDP) were solved, while 64 applications were rejected, another 64 are kept pending. The Collector said that most of the applications which were kept pending were related to Pollution Control Board (PCB) and Legal Metrology (LM) departments. He ordered that officials should show special attention over pending applications and solve them by discussing the issues with PBC and LM departments. He said that officials should organise awareness programmes about the World Bank supporting programme called 'Ramp' to promote more indistries in the district. The Collector said that as many as 76 units were physically grounded under Prime Minister Employment Generation Programme (PMEGP) in the district. On the occasion, the Ceollector reviewed the progress related to the proposed industrial units of Jakson Infra, Utkarsha Alluminimum, Dhathu Nigam Limited and Cribco Green Energy Limited. Joint Collector Kollabathula Karthik, District Industries GM Maruthi Prasad, APIIC JD Sivakumar, Atmakur RDO Pavani and others were present.
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Business Standard
11-07-2025
- Business
- Business Standard
Loans against gold, silver pledge up to limit not norm violation: RBI
The Reserve Bank of India (RBI) on Friday clarified that loans sanctioned by banks against the voluntary pledge of gold and silver as collateral—up to the collateral-free limit—will not be considered a violation of the central bank's guidelines on collateral. As per RBI guidelines, banks have been mandated not to accept collateral security for loans up to ₹10 lakh extended to units in the micro and small enterprises (MSE) sector. They have also been instructed to extend collateral-free loans up to ₹10 lakh to all units financed under the Prime Minister Employment Generation Programme (PMEGP). Additionally, banks may, based on the good track record and financial position of the MSE units, increase the limit to dispense with the collateral requirement for loans up to ₹25 lakh (with the approval of the appropriate authority). On the other hand, banks have been mandated by RBI to waive collateral security and margin requirements for agricultural loans, including loans for allied activities, up to ₹2 lakh per borrower.
Fibre2Fashion
06-07-2025
- Business
- Fibre2Fashion
Indian minister Manjhi highlights MSME growth, credit surge in FY25
Indian MSME Minister Jitan Ram Manjhi has highlighted the rapid strides made by the Micro, Small and Medium Enterprises (MSME) sector. He was addressing a press conference in Mumbai on July 4, 2025, following his review visits to IDEMI and the Khadi & Village Industries Commission (KVIC) offices on July 3. Calling MSMEs the second largest contributor to India's economy, Manjhi noted that the sector contributes 30.1 per cent to the country's GDP, 35.4 per cent to manufacturing, and 45.73 per cent to exports. The Minister shared that the Udyam portal, which enables paperless registration for MSMEs, now has over 3.80 crore units registered, the Ministry of Micro, Small and Medium Enterprises, said in a release. Additionally, the Udyam Assist Portal—launched to formalise informal micro-enterprises—has recorded over 2.72 crore units. Together, these 6.5 crore MSMEs have created employment for 28 crore people. The number of MSME units has grown fifteen-fold in the past five years, he stated. Indian MSME Minister Jitan Ram Manjhi has highlighted the sector's growth, noting its 30.1 per cent GDP share and 6.5 crore units employing 28 crore people. He cited record credit guarantees (~$36 billion in FY25), PMEGP's rural job impact, and the MSME Samadhaan portal's reduced backlog. He praised KVIC and others, reaffirming support for artisans via PM Vishwakarma. Highlighting government support schemes, Manjhi said the Prime Minister Employment Generation Programme (PMEGP) has facilitated employment for 80.33 lakh individuals, with 80 per cent of the beneficiaries in rural India. Under the Credit Guarantee Scheme, over 1.18 crore guarantees worth ₹9.80 lakh crore (~$117.6 billion) have been approved so far, with a record ₹3 lakh crore (~$36 billion) credit guarantees extended in fiscal 2025 (FY25) alone. The number of beneficiaries is expected to triple by 2029. He added that the MSME Samadhaan portal, designed to resolve delayed payment issues, has seen its case backlog drop from 93,000 in October 2017 to 44,000 at present. The Minister also lauded institutions like KVIC, the Coir Board, and the National Small Industries Corporation Ltd for their efforts in promoting small industries and contributing to GDP and exports. He reaffirmed the government's commitment to empowering artisans through initiatives like the PM Vishwakarma scheme, which supports 18 traditional trades with end-to-end assistance. Fibre2Fashion News Desk (HU)
Time of India
23-04-2025
- Business
- Time of India
Mysuru attracted Rs 1,800cr investments in 3 yrs
Mysuru: Mysuru district drew Rs 1,800 crore in investments over the last three years with the establishment of 11,471 industries. This development generated nearly 28,000 direct and indirect jobs, making chief minister Siddaramaiah's home district a major hub for industrial activity. With Mysuru developing rapidly after Bengaluru, with better road, rail, and air connectivity, coupled with the availability of drinking water and land, it has attracted investors, industrialists, and entrepreneurs. The industrial-friendly, conducive atmosphere also boosted the promotion of industries. Mysuru is also known for tourism and has emerged as an education, health care, and yoga hub. According to the department of industries and commerce, the district attracted an investment of Rs 404 crore with the establishment of 2,823 major, small, and minor industries in 2022-23, creating 7,001 jobs. It attracted an investment of Rs 601 crore with the establishment of 3,276 industries in 2023-24, creating 8,245 jobs for individuals. It has attracted Rs 795 crore with the establishment of 5,372 industries in 2024-25 so far, creating 11,700 jobs. So far, Mysuru district has attracted an investment of Rs 17,026 crore with the establishment of 38,903 major, small, and minor industries, providing both direct and indirect jobs for 3,07,644 individuals. Industrial areas developed by the district administration, such as Hebbal, Hootagally, Belagola, Belavadi, Nanjangud, Thandavapura, Koorgalli, Kadakola, Yadavagiri, Metagally, and Hinakal, even taluk headquarters' surroundings like Hunsur and Nanjangud, are attracting investors. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Free P2,000 GCash eGift UnionBank Credit Card Apply Now Undo The industrial estates established by govt in Mysuru for automobiles, electronics and electricals, chemicals, food processing, leather industries, paper and printing, rubber and plastics, textiles, and several other industrial parks are attracting investors. The Union govt-sponsored programmes like PM Vishwakarma and PMEGP (Prime Minister Employment Generation Programme) for entrepreneurship development have all given a big boost to the promotion of industries in Mysuru. Around 1.8 lakh individuals have registered under the PM Vishwakarma scheme that aims at supporting artisans working in more than 18 traditional trades, including carpentry, tailoring, metallurgy, laundry and washing, and several other sectors. About 20,000 registered for jobs under the PMEGP scheme. Speaking to TOI, joint director of industries and commerce Shivalingaiah said Mysuru district attracted an investment of Rs 1,800 crore with job creation for 28,000 individuals in the last three years. "The department has been registering the establishment of new industries every month and sanctioning an average of Rs 50 crore every month for the establishment of micro and minor industries. In recent years, women entrepreneurs are also coming forward along with SC and ST entrepreneurs for the establishment of industries after govt started providing loans with an annual interest rate of 5% per annum for them," he said. Mysuru Chambers of Commerce and Industries president KB Lingaraju said Mysuru started witnessing an increase in the registration of small-scale industries over the last five years, along with job creation, after both Union and state govts started to encourage entrepreneurs under Make in India, startup ecosystem, promotion of swadeshi, and marketing of products.
