Amidst Covid Gloom, KVIC Blooms; Generates Highest Ever Employment under PMEGP; MSME Minister Shri Nitin Gadkari Hails Performance
Posted On: 03 APR 2021, Delhi
In a year marred by the economic despair surrounding the Covid-19 pandemic, Khadi and Village Industries Commission (KVIC) has just recorded its best ever performance in job creation under the Prime Minister’s Employment Generation Program (PMEGP). In FY 2020-21 ending March 31, that was largely affected by the nationwide lockdown, KVIC disbursed Rs. 2188.78 crore to create a whopping 5,95,320 jobs under PMEGP, the highest ever since its launch in 2008. In 2020-21, KVIC established 74,415 projects across the country.
Hon’ble Minister for MSME, Shri Nitin Gadkari lauded the achievement of KVIC and said that creation of local jobs would provide livelihood to lakhs of people, in turn, bolstering the country’s economy.
In year 2020-21, against the margin money disbursement target of Rs. 2,120.81 crore, KVIC doled out Rs. 2,188.78 crore and achieved 103.2% of the target, nearly 14% more than margin money disbursed in 2019-20. In setting up of new projects and employment generation, KVIC achieved 106.2% of the target.
KVIC Chairman Shri Vinai Kumar Saxena attributed this achievement to the Hon’ble Prime Minister’s clarion call for “Aatmanirbhar Bharat” and “Vocal for Local” and constant guidance and support of MSME Minister Shri Nitin Gadkari.
The government’s thrust to local manufacturing has prompted many youths, women and distressed people to take up self-employment activities under PMEGP.
Two major decisions by KVIC regarding timely execution of applications also helped the cause. First, the timeframe for scrutinizing and forwarding the applications to the banks by its state directors reduced from 90 to 26 days. Second, monthly coordination meetings with the banks were started at different levels which has also helped timely disbursal of loans to the beneficiaries.
|YEAR||No of Projects Established||Margin Money Disbursed (Rs crore)||Employments Created|