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KVIC breaks all previous records to create highest ever employment under Prime Minister’s Employment Generation Program in Financial Year 2021-22

  • Integrity Education, Delhi
  • 20, Apr 2022
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Khadi and Village Industries Commission  (KVIC) has broken all previous records to create highest ever employment under Prime Minister’s Employment Generation Program (PMEGP) in Financial Year 2021-22.
This is for the first time since the launch of the PMEGP Scheme in 2008, that KVIC has established over one lakh new units in a financial year.

These 1,03,219 units have been established at a total capital of nearly  12,000 crore rupees out of which KVIC disbursed a margin money subsidy of 2978 crore rupees while the bank credit flow was nearly 9,000 crore rupees. With setting up of an unprecedented 1.03 lakh new manufacturing and service units and creation of over 8.25 lakh jobs, PMEGP has emerged as government’s most powerful tool of self-sustainability in the year 2021-22. Though the country was under partial lockdown for the first three months of the year during the second wave of Covid-19 pandemic.

As compared to the previous year, i.e. 2020-21, the number of units and employment created under PMEGP has gone up by 39 per cent each, while the margin money distribution has also witnessed a jump of 36 per cent in FY 2021-22. KVIC Chairman Vinai Kumar Saxena attributed this quantum jump in employment creation to the Prime Minister’s push for local manufacturing to achieve self-reliance.

AIR correspondent reports, in another major step, KVIC has also begun geo-tagging of all PMEGP units so as to verify the actual physical status of the units and their performance at any point of time. So far, more than one lakh PMEGP units have been geo-tagged.

Sources : News on Air