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Business Standard
3 days ago
- Business
- Business Standard
KVIC disburses ₹300 cr subsidy to 8,794 beneficiaries under PMEGP scheme
The Khadi and Village Industries Commission (KVIC), under the Ministry of Micro, Small and Medium Enterprises (MSME), has disbursed ₹300 crore in margin money subsidy to 8,794 beneficiaries under the Prime Minister's Employment Generation Programme (PMEGP). The subsidy was released during a virtual programme held on Tuesday at KVIC's Central Office in Vile Parle (West), Mumbai. It corresponds to loans amounting to approximately ₹884 crore. Manoj Kumar, Chairman of KVIC, transferred the subsidy to beneficiaries via a virtual platform. CEO Roop Rashi and other senior officials were also present at the event. 'Khadi is the essence of Aatmanirbhar Bharat': KVIC chairman Since its inception, PMEGP has supported the establishment of 1.02 million micro enterprises up to FY 2024–25. Loans worth ₹73,348.39 crore have been sanctioned under the scheme, with margin money subsidies totalling ₹27,166.07 crore. The programme has generated direct and indirect employment for over nine million individuals across the country. Zone-wise disbursement details All six zones participated in the event. South Zone (Andhra Pradesh, Telangana, Karnataka, Tamil Nadu, Kerala, Puducherry): 2,445 projects received ₹80.26 crore Central Zone (Uttar Pradesh, Madhya Pradesh, Chhattisgarh, Uttarakhand): 2,366 projects received ₹91.13 crore Eastern Zone (Bihar, Jharkhand, Odisha, West Bengal, Andaman & Nicobar Islands, Northeast states): 2,167 projects received ₹62.68 crore Northern Zone (Haryana, Himachal Pradesh, Jammu & Kashmir, Ladakh, Punjab, Rajasthan): 1,320 projects received ₹41.80 crore The event marked another step in KVIC's ongoing efforts to boost rural entrepreneurship and employment generation through its flagship PMEGP scheme.
Hans India
3 days ago
- Business
- Hans India
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.
Hans India
27-05-2025
- Business
- Hans India
MSMEs are key to leading green mission: Manjhi
Hyderabad: Union Minister for Micro, Small and Medium Enterprises (MSMEs), Jitan Ram Manjhi said that in the present era of global warming, only MSMEs are using traditional practices, which are not harmful to the environment. Hence, the MSMEs are playing a crucial role to protect the environment and lead the green environment mission. The Union Minister was addressing after inauguration of the State Level Vendor Development Programme for SC, ST Entrepreneurs conducted at National Institute for MSME, Yousufguda by National SC-ST Hub. He said that to protect the environment 33 per cent area of the earth should be green, which can produce better oxygen. However, in the present era, there are a large number of industries, which are emitting carbon dioxide. The Minister stressed to design a new integrated education system, which can develop our new generation to become self-dependent. He appealed to rethink about situations and make MSMEs flourish for a better world. He appreciated the Vishwakarma scheme, which is providing skill development facilities as well as other assistance to the traditional artisans.
The Hindu
24-05-2025
- Business
- The Hindu
Andhra Pradesh government launched ‘One Family, One Entrepreneur', to foster a culture of entrepreneurship in every household, says MSME Minister
Minister for Micro, Small and Medium Enterprises (MSME) Kondapalli Srinivas launched Confederation of Indian Industry (CII) Andhra Pradesh Entrepreneurs Development Forum and CII Tirupati Entrepreneurs Development Forum in Tirupati on Saturday. He also unveiled the CII Project 'Abhivrudhi Padham lo Swarna Andhra Pradesh Nuthana Prayanam.' Addressing the gathering, he said, 'The A.P. government has launched the flagship programme 'One Family, One Entrepreneur', with a mission to foster a culture of entrepreneurship in every household. This initiative plays a pivotal role in the development of MSMEs as drivers of self-reliance, innovation and job creation.' The Minister further said, 'In a landmark move under Phase 1, the Chief Minister has inaugurated MSME Parks and Flatted Factory Complexes in 11 Assembly constituencies and the foundation stones were laid in 39 other constituencies at Narempeta village in Atmakur mandal of SPSR Nellore district on 1st May, 2025.' 'In order to sustain the annual growth rate exceeding 15% and achieving $2.4-trillion economy, as mandated under Swarna Andhra@2047, the Chief Minister has reiterated the need for establishment of at least one MSME Park in each constituency for extending infrastructural support by developing plug and play facilities, approach road and power, which would reduce the initial capital costs,' he added. Tirupati District Collector S. Venkateswar said, 'At present, the growth in Tirupati is 18% and there are more than 15,000 MSMEs in the district generating 2.5 lakh employment which is more than the large industries in the district.' S. Narendra Kumar, vice-chairman, CII Andhra Pradesh, said, 'India must create 7.85 million non-farm sector jobs annually by 2030. Microenterprises, being the engine of job growth in dynamic economies, are vital to meeting this challenge. A.P.'s focus on mass entrepreneurship is aligned with national employment goals.' CII project 'The project titled 'Abhivruddhi Patham Lo Swarna Andhra Pradesh' (A new journey towards development) is the first major step by the CII as a part of its Centre of Excellence on Employment and Livelihood (CEL). This has been officially launched with the support from the State government and Volvo Group Trust,' he informed.
Time of India
24-05-2025
- Business
- Time of India
Factory workers' complex along e-way to boost MSMEs, startups in Noida
Noida: Eleven flatted factory complexes, each tailored for the proposed industrial parks—medical device, semiconductor, IT, apparel and toy—are set to come up off the Yamuna expressway. The multi-storey industrial buildings will offer around 3,000 affordable and ready-to-use industrial spaces, primarily to (Ministry of Micro, Small and Medium Enterprises) MSMEs and startups, which often lack the capital to establish large-scale standalone factories due to high land allotment costs spurred by Noida International Airport and International Film City, officials said. Flatted factory complex is a multi-storeyed industrial building subdivided into small, separately occupied units, which are used for manufacturing, assembly, and storage purposes. These complexes have separate elevators for goods. The first flatted factory is to come up in Sector 28 where 74 large plots have been allotted for the 350-acre medical device park. The five-acre flatted factory, to be built at an estimated Rs 125 crore, will have 240 units with a mix of 50 units of 120 sqm, 60 of 90 sqm and 126 of 60 sqm. The second complex is to come up in Sector 10 to support the 206-acre electronics manufacturing cluster (EMC) with 228 units along with facilities like a convention centre, a 45-bed hostel, a daycare facility and a 500-seat skill development centre. Two large plots measuring 20,234 sqm and 44,515 sqm have been earmarked for additional flatted factories. CEO Arun Vir Singh said the Authority will lease, not sell, these units to make it easier for emerging businesses to set up operations without the burden of land ownership. Seventy-five per cent of these units will be reserved for MSMEs and 25% for startups. Similar flatted factory projects are also being planned in other parks such as apparel, handicrafts, IT park, data park, semiconductor, EV, and aviation sectors to further support small and emerging enterprises. YEIDA has also initiated a process to appoint a consultant for designing and managing the infrastructure development of Sector 10, where a tech hub is planned, at an estimated cost of over Rs 450 crore. Get the latest lifestyle updates on Times of India, along with Brother's Day wishes , messages and quotes !
