Mandaviya inaugurates First ESIC Hospital in J&K at Ompora in Srinagar (See 'Corp Brief') IPC signs MoU with Institute of Pharmaceuticals Education, Hajipur (See 'Corp Brief') Modi greets Public Representatives on National Panchayati Raj Day (See 'Corp Brief') Farmer ID & scientific farming models will give agriculture new direction: Chouhan (See 'Corp Brief') NMDC leadership Meets Dantewada Panchayat Heads, Promises Action on Water, Electricity and Roads (See 'Corp Brief') Veep addresses 6th Convocation of AIIMS Rishikesh (See 'Corp Brief') RRM highlights Vital Role of Naval Civilians in Delhi (See 'Corp Brief') IPR - As Constitutional Court under Article 215 of Constitution, appropriate orders are warranted to ensure that its directions are not taken in perfunctory or dismissive manner: HC (See 'Legal Desk') Green Economy: Youth to Play Key Role in India's Sustainability-Driven Growth: MoS (See 'Corp Brief') Scindia lauds BSNL's 'Transformative Performance (See 'Corp Brief') Bharat Coking Coal introduces Cash Discount Scheme for Power Sector Consumers (See 'Corp Brief') Prohibition of Benami Property Transactions Act, 1988 - Mere involvement of cash does not exclude transaction from ambit of benami, particularly where source is undisclosed & transaction is structured to legitimize unaccounted money during demonetization: SAFEMA Tribunal (See 'Legal Desk') Ministry of Steel to hold Open House on Steel Import Issues on Monday (See 'Corp Brief') RM & German counterpart hold bilateral talks in Berlin (See 'Corp Brief') India records Historic Growth in Wind Energy with 6.1 GW addition in 2025-26 (See 'Corp Brief') PMLA - Mere fact that some allegations in predicate FIR were quashed, or that attached property was allegedly purchased before crime period, did not invalidate attachment if companies were recipients of proceeds of crime: SAFEMA (See 'Legal Desk') Agricultural leadership of North India to converge in Lucknow tomorrow (See 'Corp Brief') Railways plants 81.6 lakhs trees in 2025-26 across Zones (See 'Corp Brief') PMLA - If proceeds of crime directly or indirectly obtained or derived out of criminal activity relating to scheduled offence are not traceable, then any other property of accused of equivalent value falls within definition of ‘proceeds of crime': SAFEMA (See 'Legal Desk') MSDE drives skill-led transformation across India's border villages (See 'Corp Brief') Nadda emphasizes 70% of NCD Risk Factors Are Lifestyle-Driven (See 'Corp Brief') Workshop on New Textile Schemes held in Bengaluru (See 'Corp Brief') IPR - Claim for injunction on the ground of breach of confidentiality cannot succeed if plaintiff fails to establish an enforceable confidentiality obligation and has himself publicly disclosed the relevant work: HC (See 'Legal Desk') Farmers need trust and simpler Systems, Not Just Credit: Chouhan (See 'Corp Brief') India's civilisational openness key to future leadership: William Dalrymple (See 'Corp Brief') A&C - Even if arbitration clause expressly names particular official as party-appointed arbitrator, such appointment cannot be sustained if that person is rendered ineligible u/s 12(5) read with Seventh Schedule: HC (See 'Legal Desk') NFRA Circular 2026- lessons to auditor on communication (See CORP EINSICHT) India-ROK Framework for Partnership in Shipbuilding, Shipping and Maritime Logistics (See 'Corp Brief') Food Business Startup Enabler Programme 2.0 conducted (See 'Corp Brief') Policy Support, Startups and Industry participation accelerate Circular Economy Transition (See 'Corp Brief' CCI okays restructuring by Vishakha Renewables and merger with Vishakha Glass (See 'Corp Brief') Scindia highlights historic 16% revenue growth of Department of Posts (See 'Corp Brief') IPR - Scope & clarity of invention are to be ascertained not just from independent claim in isolation, but by reading it together with dependent claims and accompanying drawings: HC (See 'Legal Desk') Samriddh Gram Initiative of India Nominated for WSIS Prizes 2026 (See 'Corp Brief') DARPG to observe 18th Civil Services Day on April 21, 2026 (See 'Corp Brief') IPR - Amended claims that significantly alter original claims transitioning from composition to non-native pancreatic ß cell must be duly considered by Controller independently without being influenced from prior conclusions - YES: HC (See 'Legal Desk') States showcase Best Practices in Digital Health at NHA Chintan Shivir (See 'Corp Brief') PMLA - Cricket betting involves cheating, which constitutes predicate offence under Prevention of Money Laundering Act, 2002, when FIR is registered for scheduled offences such as Section 420 IPC: SAFEMA (See 'Legal Desk') Chouhan reviews Kharif preparedness (See 'Corp Brief') CAQM reviews enforcement actions across NCR (See 'Corp Brief') PMLA - If actual tainted property or proceeds of crime are not traceable or available, authorities are empowered to attach alternative attachable property or untainted property of person involved: SAFEMA (See 'Legal Desk') Corporate laws (Amendment) Bill 2026 - Proposals affecting auditors (See CORP EINSICHT)

Print

KVIC Chairman distributes margin money subsidy of Rs 299 Crore

Published: Jun 12, 2024

By TIOLCorplaws News Service

NEW DELHI, JUNE 12, 2024: WITH the formation of the 'Modi Government' for the third time at the Center, the Khadi and Village Industries Commission (KVIC), Ministry of Micro, Small and Medium Enterprises has once again increased the pace of delivering government schemes to the beneficiaries. Last Monday, KVIC Chairman Manoj Kumar distributed margin money subsidy of Rs 299.25 crore to 7444 units across the country under the Prime Ministers' Employment Generation Programme (PMEGP) through video conference. 81,884 new jobs were created by the sanctioned loan amount for the beneficiaries across the country.

In a statement, Chairman KVIC  congratulated Hon'ble Prime Minister Narendra Modi on behalf of 'Khadi Parivar' for becoming the Prime Minister for the third time and said that the distribution of subsidy of Rs 299.25 Crore directly in the accounts of beneficiaries by KVIC on the very next day of swearing-in is an indication that under the leadership of Prime Minister Narendra Modi, government schemes will now be delivered to the public at double speed.

Manoj Kumar informed that as per the vision of Prime Minister Narendra Modi, to achieve the goal of 'Developed India' by the year 2047, KVIC is working on a plan to strengthen 'Khadi Gram Swaraj Abhiyan' in every village. All preparations have been made to take Khadi from local to global. Along with this, Prime Ministers' Employment Generation Programme (PMEGP) is also being expanded to increase the quality and reach of products related to village industry. In this sequence, KVIC has distributed Rs 299.25 Crore in the accounts of 7444 beneficiaries of all its 6 zones through online medium. Under this, subsidy of Rs 75.17 crore has been distributed to 2017 beneficiaries of Central Zone, Rs 22.92 crore to 763 beneficiaries of Eastern Zone, Rs 91.78 crore to 2477 beneficiaries of North Zone, Rs 9.2 crore in the account of 223 beneficiaries of Northeast Zone, Rs 72.97 crore to 1539 beneficiaries of South Zone and Rs 27.13 crore in the account of 425 beneficiaries of West Zone through online medium. 22187 jobs have been created in Central Zone, 8393 jobs in Eastern Zone, 27247 jobs in North Zone, 2453 jobs in Northeast States, 16929 jobs in South Zone and 4675 jobs in West Zone.

Chairman KVIC further said that under the guidance of Prime Minister various schemes of Khadi and Village Industry are being run by KVIC in the last 10 years to provide employment to the unemployed. PMEGP has taken a revolutionary initiative in the field of setting up cottage industries. The entire process from applying for PMEGP to issuing subsidy is online. From the start of PMEGP scheme till the last financial year, 9.40 lakh new projects have been set up in the country, which has provided employment to more than 81.48 lakh new people. For these schemes, till the last financial year, the Government of India has distributed margin money subsidy of more than Rs 24520.19 Crore. He further said that 52% units have been approved for SC/ST category and women. 80% PMEGP units have been set up in rural areas, 20% units in urban areas. About 67% PMEGP units are set up in manufacturing sector and 33% in service sector. Under this scheme, a grant of 15% to 25% is given to general category candidates and 25% to 35% to reserved category candidates by the Government of India.

Manoj Kumar emphasized that the guarantee of Modi Government has made Khadi and Village Industry products popular globally. In the last 10 years, 'New Khadi of New India ' has given a new direction to the 'Aatmanirbhar Bharat Abhiyan' . As a result, more than four times the sales of Khadi products have been recorded in this period. With the increase in production and sales of Khadi, artisans of rural India have become economically prosperous. The increase of more than 233 percent in the remuneration of artisans in the last 10 years has attracted artisans towards Khadi work, while the 'Vocal for Local' and 'Make in India' mantra has made Khadi popular among the youth. KVIC officers and employees were present in the programme.

TIOL CORP SEARCH

TIOL GROUP WEBSITES

taxindiaonline
taxindiainternational
tioltube
TKF
TIOLawards
A TIOL Website. Copyright © 2025 TIOLcorplaws.com All rights reserved.