KVIC disburses ₹300 crore subsidy to 11,480 service sector beneficiaries under PMEGP

KVIC disburses ?300 crore subsidy to 11,480 service sector beneficiaries under PMEGP

The Khadi and Village Industries Commission (KVIC) on Tuesday disbursed over ₹300 crore as margin money subsidy to 11,480 service sector beneficiaries across the country under the Prime Minister’s Employment Generation Programme (PMEGP). The subsidy was released virtually from KVIC’s Rajghat office in New Delhi by Chairman Manoj Kumar.

The disbursal corresponds to a total loan sanction of ₹906 crore and was conducted in the presence of KVIC CEO Roop Rashi and other senior officials. All six zones of the country actively participated in the virtual event.

In his address, Manoj Kumar highlighted that PMEGP has become a vital pillar of the government’s vision for a self-reliant and developed India. He emphasized that the scheme has transformed into a social movement by empowering lakhs of youth, women, and artisans with self-employment opportunities.

Zone-wise, the South Zone received the highest subsidy of ₹116 crore for 4,565 projects, followed by the Central Zone with ₹72 crore for 2,403 projects. The North Zone saw a subsidy of ₹61 crore for 2,713 projects, while the East Zone received ₹22 crore for 996 projects. The North East Region got ₹2 crore for 81 projects, and the West Zone was allocated ₹26 crore for 722 projects.

Since its inception, PMEGP has helped establish over 10.18 lakh micro enterprises with loans amounting to ₹73,348 crore and margin money subsidies of ₹27,166 crore. The program has generated employment for over 90 lakh individuals, making it one of India’s most impactful self-employment initiatives.