Latest news with #PMVishwakarmaYojana
Hans India
09-07-2025
- Business
- Hans India
Expedite approvals for new industries
Chittoor: District Collector Sumit Kumar underlined the need to expedite approvals for setting up industries through the single-window system to boost local employment opportunities. He was speaking at the District Industries and Export Promotion Committee (DIEPC) meeting held on Tuesday under the aegis of the District Industries Centre (DIC). During the meeting, the Collector said that the establishment of industries in the district would directly benefit the local youth by providing employment. He directed officials to speed up the process of granting permissions and to organise skill development training programmes to equip youth for job opportunities. He informed that for the financial year 2025-26, production has already commenced in 547 micro and small-scale industries with an investment of Rs 8.39 crore, generating employment for 1,604 people. Furthermore, initiatives have been taken to approve 13 large and medium industries with an investment of Rs 3,494 crore, and 38 micro and small enterprises with Rs 117 crore under the single-window system. If these proposed units begin operations, an estimated 15,000 jobs could be created. From April 2025 to date, 532 applications were received under the Single Desk system, of which 520 have already been approved. Applications under the Prime Minister's Employment Generation Programme (PMEGP) for 2025-26 are currently being accepted, and the Collector instructed bankers to promptly review and sanction these applications. Under the PM Vishwakarma Yojana, permissions have been granted for 2,131 units, and training sessions have been held, benefiting 1,843 individuals so far. The meeting was attended by Industries GM C Suribabu, Deputy Commissioner of Commercial Taxes Srinivasa Rao, APIIC Zonal Manager YVK Subba Rao, FAPPSI representative K Madhusudan, and Food Processing Association representative K Govardhan Babu, among others.
Hans India
06-07-2025
- Business
- Hans India
Govt initiatives drive India to become fourth most equal country
In yet another significant achievement for the Prime Minister Narendra Modi-led government, India's Gini Index now stands at 25.5, making it the fourth most equal country in the world, after the Slovak Republic, Slovenia and Belarus, according to a World Bank report. The Gini Index is a simple yet powerful way to understand how equally income, wealth or consumption is distributed across households or individuals in a country. It ranges in value from 0 to 100. A score of 0 means perfect equality. A score of 100 means one person has all the income, wealth or consumption and others have none, hence absolute inequality. The higher the Gini Index, the more unequal the country. India's score is much lower than China's 35.7 and far lower than the United States, which stands at 41.8. It is also more equal than every G7 and G20 country, many of which are considered advanced economies. India is not only the world's fourth-largest economy; it is also one of the most equal societies today. This is a remarkable achievement for a country of its size and diversity. It reflects how India's economic progress is being shared more evenly across its population. Behind this success is a consistent policy focus on reducing poverty, expanding financial access, and delivering welfare support directly to those who need it most. According to the government, India's strong standing on the Gini Index is not a coincidence. 'It is closely linked to the country's sustained success in reducing poverty across both rural and urban regions. The Spring 2025 Poverty and Equity Brief by the World Bank highlights this achievement as one of the most significant in recent years,' according to an official statement. According to the World Bank report, 171 million Indians have been lifted out of extreme poverty over the past decade. The share of people living on less than $2.15 a day, which was the global threshold for extreme poverty till June 2025, fell sharply from 16.2 per cent in 2011-12 to just 2.3 per cent in 2022-23. Under the World Bank's revised extreme poverty threshold of $3.00 per day, the 2022-23 poverty rate would be adjusted to 5.3 per cent. India's progress towards greater income equality is backed by a series of focused government initiatives. Some of the key schemes and initiatives are PM Jan Dhan Yojana, Aadhaar and Digital Identity, Direct Benefit Transfer (DBT), Ayushman Bharat, Stand-Up India, Pradhan Mantri Garib Kalyan Anna Yojana (PMGKAY), and PM Vishwakarma Yojana, among others. 'What sets India apart is its ability to balance economic reform with strong social protection. Targeted schemes like Jan Dhan, DBT, and Ayushman Bharat have helped close long-standing gaps. At the same time, programmes such as Stand-Up India and PM Vishwakarma Yojana are helping people create wealth and secure livelihoods on their own terms,' said the government.
Time of India
27-06-2025
- Business
- Time of India
From Charkha to Chandrayaan: MSMEs are the driving force behind India's Viksit Bharat vision, says NSIC CMD on World MSME Day
As India celebrates World MSME Day , Subhransu Sekhar Acharya , Chairman-cum-Managing Director of the National Small Industries Corporation (NSIC), reflects on the transformative journey of India's MSME sector—from supporting rural artisans to powering space missions. In a candid conversation with ET Digital, Acharya outlines NSIC 's role in aligning with flagship government schemes, fostering digital entrepreneurship, and skilling youth through cutting-edge industrial technologies. He asserts that MSMEs will be the backbone of a Viksit Bharat , positioning India to lead the 21st century. Edited excerpts: ET: How do you see the MSME sector evolve over the years? Subhransu Sekhar Acharya (SSA): NSIC is an organization that has a 70-year-old legacy, and you can say that it has witnessed India's development journey. If you are talking about the MSME sector, which was earlier the small industry sector, I can sum it up in just two words: from Charkha to Chandrayaan. In the initial days, our focus was rural industries. But while we consolidate our base in the rural sector, our MSME sector has evolved to, in fact, be a catalyst in the country's growth in its space missions. So, our MSME sector today is truly agrani, adhunik, and Aatmanirbhar. The MSME sector today stands tall among all sectors contributing to India's dream of Viksit Bharat. The large industry sector has a job potential, but it is limited. Every year, about 15 million people graduate from our universities and colleges, but we cannot truly provide jobs for all of them. So, it is the MSME sector that has this potential to constructively engage our youth in job-providing activities, in value-creating activities, and in making everyone add value in our march towards becoming a developed nation. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like An Phu Dong: Unsold Furniture Liquidation 2024 (Prices May Surprise You) Unsold Furniture | Search Ads Learn More Undo ET: NSIC is a nodal agency for key MSME schemes from the Ministry of MSME. So how do you ensure that your schemes remain aligned with the overall national MSME policy? SSA: If we are dreaming about a Viksit Bharat by 2047, we must ensure that everybody adds incremental value addition, even in their existing activities. The Government of India, through its various aspirational schemes—whether it is PM Vishwakarma Yojana, PM SVANidhi, or others—is targeting that everybody doing something adds incremental value so that the sum total propels India to developed nation status. We are fortunate to be part of many of the government initiatives. PM Vishwakarma is a very aspirational scheme that envisages bringing entrepreneurship to traditional activities. We have our shilpakars, sonars, and lohars—but how to add value by making them entrepreneurs? So NSIC is participating in that in its own way. The Government of India has launched a programme called the MSME Trade Enablement and Marketing (TEAM) scheme, where we are in the process of onboarding 500,000 MSMEs on digital market platforms, and 50% of them we are targeting to be women entrepreneurs. ET: NSIC also runs training incubation centres and common facility centres. Please tell us about them. How many such centres are operational today, and what do you want to achieve with them? SSA: Problems that MSMEs face are multi-dimensional. One of them is the lack of adequate skilled manpower to man the shop floors of MSMEs. Today we can possibly install a machine, but then we do not have skilled hands to run those machines. At NSIC, through our technology centres, we are making skilled manpower available by providing them skills in various modern industrial technologies. Then we have incubation centres. We are talking about enterprise creation—that once an enterprise is created, we can develop it. But how do we bring together one mechanism where our youth, who are looking to do something, are skilled in trades of their choice, then given entrepreneurial training and hand-holding support to approach banks and link them to the market? Through our livelihood incubation centres, also called enterprise creation labs, we are training them in various trades, preparing business plans for them and submitting them to banks for credit support, and after they start producing something, linking them to the market. Live Events ET: We are currently in the era of Industry 4.0. What are the key modern technologies and Industry 4.0 solutions that NSIC offers to help MSMEs adapt and grow? SSA: NSIC is offering a range of modern technologies and Industry 4.0 solutions to help MSMEs adapt and grow. Our offerings include Smart Factory Solutions, Augmented Reality (AR), Virtual Reality (VR), CNC and VNC Machine Training, Solar Installation Technologies, Solar Pump Technologies, Electric Vehicle Technologies, and Robotics, etc. The goal is to create a skilled workforce capable of implementing these advanced technologies and helping MSMEs improve their productivity and market positioning. ET: As India celebrates World MSME Day today, what would be your message to the MSME community in the country? SSA: The 21st century is going to be India's century. The 19th century was of Europe, and the 20th century was possibly of the US. Our MSMEs are going to play a pivotal role in helping India acquire that space, acquire that leadership, and contribute to the vision of a Viksit Bharat. MSMEs are going to be the solid rock foundation for our Viksit Bharat dream. To the MSMEs, I will say: this is the best time to grow and touch the next level of success. WATCH THE FULL COVERAGE OF ET MSME DAY 2025
New Indian Express
24-06-2025
- Business
- New Indian Express
Telangana government failed to implement farm loan waiver: Minister Kishan
HYDERABAD: Union minister and BJP state president G Kishan Reddy alleged that despite Central government's efforts, the state government failed to implement the assured Rs 2 lakh farm loan waiver scheme effectively. Addressing the media after chairing the State Level Bankers Committee (SLBC) meeting here on Monday, Kishan Reddy said that around 15,000 eligible farmers were registered with Telangana Grameena Bank. But, funds were not credited to them for the crop loan waiver, he said. Several farmers who took farm loans below Rs 1 lakh were yet to benefit from the loan waiver scheme, he alleged. Kishan Reddy urged the state government to act swiftly, collect accurate information from banks and ensure that eligible farmers receive their crop loan waiver benefits. Kishan Reddy noted that there was a growth in agricultural loans since 2013–14. At that time, the total agricultural loan disbursal in Telangana stood at Rs 27,676 crore. By 2024–25, that figure had increased to Rs 1,37,346 crore — almost a fivefold increase in 11 years, he said and highlighted the Centre's commitment to supporting farmers in Telangana. The meeting mainly reviewed the performance of banks in implementing Central schemes. He reviewed agricultural loans, PM Mudra Loans, PM Vishwakarma Yojana, PM SVANidhi, Stand-Up India and other initiatives. He instructed the officials to prepare detailed information on Vishwakarma Yojana.
Hans India
15-06-2025
- Business
- Hans India
FM hands over loan sanction letters worth Rs 5.13 crore to beneficiaries in Leh
Union Finance and Corporate Affairs Minister Nirmala Sitharaman on Sunday handed over loan sanction letters worth Rs 5.13 crore to beneficiaries in Ladakh's Leh, under various Central government financial inclusion schemes. The move is part of the Centre's continued efforts to empower local communities through targeted economic support and strengthen entrepreneurship in remote regions like Ladakh. The Finance Minister distributed the sanction letters during the Credit Outreach Programme organised in Leh, where beneficiaries of schemes such as the Pradhan Mantri Mudra Yojana (PMMY), the PM Vishwakarma Yojana, the Prime Minister's Employment Generation Programme (PMEGP), the PM Formalisation of Micro Food Processing Enterprises (PM-FME) Scheme, and Joint Liability Group (JLG) loans received official support from participating banks. FM Sitharaman, who is on a four-day visit to Ladakh, also interacted with beneficiaries and bank officials during the programme. Her visit comes at a time when the government is increasing its focus on financial inclusion in aspirational and border regions. Through these initiatives, the government aims to promote local entrepreneurship, generate employment, and ensure equitable access to formal credit systems. Earlier in the day, the Finance Minister visited an exhibition in Leh featuring local handicrafts, handloom products, and sustainable innovations developed by women-led self-help groups (SHGs) and small entrepreneurs. She praised their creativity and the role they play in preserving Ladakh's cultural heritage, while also contributing to rural economic development. The Centre's flagship schemes, like the PM Mudra Yojana and DAY-NRLM, have played a key role in driving financial inclusion across India. Under the PMMY alone, over 52 crore loans worth Rs 32.61 lakh crore have been sanctioned since its launch, with nearly 70 per cent of the beneficiaries being women entrepreneurs. The scheme's emphasis on collateral-free credit has enabled small business owners, particularly in rural and semi-urban areas, to become financially independent. The Finance Minister was also scheduled to meet with officials from the Ladakh Autonomous Hill Development Council (LAHDC) and the Union Territory administration, and inaugurate various developmental projects during her visit.
