Latest news with #KVIC
The Hindu
19-06-2025
- Business
- The Hindu
Southern States receive subsidy of ₹116 crore from KVIC
The Khadi and Village Industries Commission (KVIC) has disbursed margin money subsidy of ₹300 crore to 11,480 service sector beneficiaries across the country, under the Prime Minister's Employment Generation Programme (PMEGP) through a virtual event held on June 17. In the southern States of Andhra Pradesh, Telangana, Karnataka, Tamil Nadu, Kerala and Puducherry, a subsidy of ₹116 crore was disbursed covering 4,565 projects, with loans of more than ₹343 crore sanctioned for these projects, according to a statement issued by KVIC, on Thursday. Since its inception in the financial year 2024-25, the PMEGP has become a pillar of entrepreneurship and self-reliance in rural and urban India, the release added.
Fashion Network
16-06-2025
- Business
- Fashion Network
KVIC disburses money subsidy of Rs 300 crore to 8794 beneficiaries under PMEGP
The Khadi and Village Industries Commission (KVIC) disbursed margin money subsidy of Rs 300 crore ($34.8 million) to 8794 beneficiaries across the country through virtual mode program organized under the Prime Minister's Employment Generation Programme (PMEGP). All the six zones of the country participated in this disbursement program. In total 2445 projects were approved for south zone, 2366 projects for central zone, 2167 projects in eastern India & northeast, 1320 projects in the northern zone and 496 projects in the western zone. Commenting on the disbursement program, Manoj Kumar, chairman of KVIC in a statement said, 'Under the visionary leadership and guidance of Prime Minister Shri 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. Since its beginning till the financial year 2024-25, PMEGP has helped 10,18,185 micro enterprises sanctioning total loans of Rs 73,348 crore.
Time of India
10-06-2025
- Business
- Time of India
Rs 67 crore plot allotted to KVIC for training centre in Ahmedabad cancelled
Ahmedabad: A prime piece of land on Sola-Science City Road, once earmarked for a training centre by the central govt's Khadi and Village Industries Commission (KVIC), is now back on the market. The Ahmedabad Municipal Corporation (AMC) had valued the 3,974 sq m plot at Rs 1.75 lakh per square metre, bringing the total to Rs 69.54 crore. However, KVIC failed to deposit this substantial amount within the stipulated timeframe, prompting the AMC to cancel the land allocation. This decision is set for final approval at the standing committee meeting on June 12. The journey to this cancellation began on Feb 22, 2024, when the standing committee initially approved the allocation of Final Plot Number 171, reserved for commercial use in Sola-Hebatpur's TP Scheme No. 41. Following this approval, the AMC's land disposal and price-fixing committee set the price. Despite an intimation letter sent to KVIC, the payment never materialized by the deadline, leading to the current situation. This is not an isolated incident for the AMC. Recently, on June 5, the corporation cancelled the allocation of a 6,495 sq m commercial plot in Gota's TP Scheme No. 32 to the Directorate General of Goods and Services Tax (Intelligent Zonal Unit, Ahmedabad). Approved on Jan 18 last year, this land was valued at Rs 1.61 lakh per sq m, totalling Rs 104.56 crore. The GST department, too, failed to deposit the amount for a year after receiving an intimation letter. Consequently, the allocation was cancelled in a standing committee meeting held on June 5. In a contrasting move, the AMC is set to recover a record-breaking Rs 209.58 crore from the National Highway Authority of India (NHAI). About a year ago, the AMC handed over 20,958 sq m of land from two service roads under different TP schemes to the NHAI. In Dec 2024, the land price and fixing committee fixed the price at Rs 1 lakh per sq m. The corporation's estate department will soon issue a demand letter to the NHAI for this significant sum, marking the first time such a large amount will be recovered for land from the authority. A proposal for this recovery will also be presented to the Standing Committee shortly.
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Business Standard
05-06-2025
- 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
05-06-2025
- 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.
