NHAI gets warm response from Bidders for Four-Laning of Dhamasiya-Bitada in Gujarat (See 'Corp Brief') Metro in India a 'Silent Revolution' transforming Urban Mobility and Society (See 'Corp Brief') CCI approves acquisition by Cube V of road asset business of DYIPL, DVIPL, DGIPL and DTEHPL (See 'Corp Brief') CCI approves acquisition of stake in Curefit Healthcare by MacRitchie Investments (See 'Corp Brief') IBC - Once Resolution Plan is approved by NCLT u/s 31 of IBC, it becomes binding on all stakeholders, and all claims not provided for in plan stand extinguished: HC (See 'Legal Desk') Country ready for any Unprecedented Demand for Coal: Govt (See 'Corp Brief') DPIIT signs MoU with Voltas Limited to support Industry-Start-up Collaboration for Smart Appliance Technologies (See 'Corp Brief') New Delhi Frontier AI Impact Commitments were Signed by 13 Leading Model Providers (See 'Corp Brief') APEDA showcases Agri and Processed Food Export Strength at AAHAR 2026 (See 'Corp Brief') IPR - Party seeking cancellation of registered trademark on grounds of similarity and prior rights must first establish its own prior and continuous use of its mark as trademark: HC (See 'Legal Desk') Capacity Building Commission hosts workshop on sustainable financing & resource mobilisation (See 'Corp Brief') Govt boosts Credit Flow to Agriculture Sector through targeted Policy Measures (See 'Corp Brief') IBC - Application of Discount for Lack of Marketability is permissible valuation methodology under Indian Accounting Standards for determining fair value of unlisted, illiquid shares in context of capital reduction: SC (See 'Legal Desk') IICA holds 4th Batch of Directors' Certification for Defence Officers (See 'Corp Brief') Financial inclusion campaign was held in 2.7 lakh Gram Panchayats and ULBs (See 'Corp Brief') A&C - Award can be set aside only on specific grounds such as being contrary to fundamental policy of Indian law, violating basic notions of morality or justice, or suffering from patent illegality that goes to root of matter: HC (See 'Legal Desk') ICANN85 in Mumbai highlights Collaboration for resilient Internet (See 'Corp Brief') Minister chairs 35th Meeting of Standing Committee of Voluntary Agencies (See 'Corp Brief') A&C - amendment to petition filed u/s 34 of Arbitration Act, cannot be permitted under Order VI Rule 17 of CPC if its effect is to introduce challenge to distinct part of arbitral award: HC (See 'Legal Desk') NITI Aayog convenes Regional Best Practices Seminar (See 'Corp Brief') FTAs opening New Opportunities for Pharma, Healthcare and MedTech Sectors: Goyal (See 'Corp Brief') MSME Ministry promotes Energy Efficiency and Green Practices in MSME Sector (See 'Corp Brief') Transforming Mined Landscapes: NLC India's Journey in Sustainable Mine Restoration (See 'Corp Brief') IEPFA-NCAER jointly organise Investor Education and Protection Workshop (See 'Corp Brief') IPR - Proprietorship of trademark, as general rule, vests in manufacturer who affixes mark on product, not in importer or distributor of those goods: HC (See 'Legal Desk') Chouhan holds post-Budget discussion with coconut farmers in Chennai (See 'Corp Brief') IBC - Creditor cannot be forced to elect its remedy or apportion its claim between principal debtor and guarantor: SC (See 'Legal Desk') IBC - Judicial review by NCLT & NCLAT does not extend commercial wisdom of Committee of Creditors in evaluating and approving resolution plan: SC (See 'Legal Desk') A&C - Pre-award and post-award interest operate in distinct fields and contractual bar applicable to former cannot, by implication, be extended to latter: SC (See 'Legal Desk') MoS interacts with beneficiaries of desalination plant in Kavaratti (See 'Corp Brief') A&C - Court will not grant specific performance of contractual obligation that is contingent upon discretionary approval of third-party government authority: HC (See 'Legal Desk') A&C - Contractual clause that expressly and widely bars payment of interest on ‘any moneys due to contractor' prohibits arbitral tribunal from awarding pre-reference and pendente lite interest on all claims: HC (See 'Legal Desk') Supreme Court Clears Path For Single Insolvency Proceedings Against Linked Group Companies (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.