Green Hydrogen Fuel Cell Bus showcased by India to Bhutan PM (See 'Corp Brief') Constitution of India-Fundamental right enshrined under Article 21 cannot be arbitrarily subjugated to statutory bar in Section 45 of PMLA, 2002: HC (See 'Legal Desk') CAQM invokes Stage-II GRAP Action Plan Across NCR (See 'Corp Brief') SEBI Act-Primary purpose of statutory enactments is to provide enactment environment conductive to increased participation and investment in securities market which is vital to growth of economy: SEBI (See 'Legal Desk') IBC-Connected persons to ineligible persons are not prohibited to participate as resolution applicant under Section 29A: IBBI (See 'Legal Desk') Sonowal dedicates Key Maritime Projects at 2nd Indian Lighthouse Festival (See 'Corp Brief') Ministry of Coal to host Star Rating Awards Ceremony (See 'Corp Brief') Patents-Inventive contribution of patent should not only improve functionality of system but also achieve innovative technical advantage that is clearly distinct from ordinary operations expected of such systems: HC (See 'Legal Desk') Mandaviya to launch 'eShram-One Stop Solution' for Unorganized Workers (See 'Corp Brief') NCL launches 4th edition of sustainable initiatives campaign (See 'Corp Brief') PMLA- Accused can be termed in category of 'sick and infirm' by showing chronic physical ailment entitling him benefit of proviso to sec 45 wherein he need not satisfy twin test in order to get Bail: HC (See 'Legal Desk') MOIL signs JV with MPSMCL for Manganese ore mining (See 'Corp Brief') Competition Act-Manipulating market price to maintain over-pricing of product or service by collection of independent businesses or organizations is termed as cartel: CCI (See 'Legal Desk') ITU-UN Workshop explores role of standardization and Emerging Technologies (See 'Corp Brief') PC (Amendment) Act, 2018- Overarching objective behind Section 17A is to provide protective shield preventing arbitrary 'enquiry or inquiry or investigation' against public servants: HC (See 'Legal Desk') Arbitration Act -Arbitration agreement is commercial document and must be interpreted so as to give effect to intention of parties, rather than to invalidate it on technicalities: HC (See 'Legal Desk') Pilot projects launched in Steel Sector under National Green Hydrogen Mission (See 'Corp Brief') SARFAESI Act -District Magistrate is not required to give any notice to either borrowers or to third party, he is only required to verify from Bank whether notice under Section 13(2) has been issued or not: HC (See 'Legal Desk') Stamp Act-Stamp duty is payable on date of execution and not on date it is received in State: HC (See 'Legal Desk') Mandaviya chairs meeting with Platform Workers' Associations to discuss Social Security (See 'Corp Brief') SEBI Act-Upon cancellation of certificate of registration, Stock Brokers be responsible for payment of outstanding dues, to SEBI: SEBI (See 'Legal Desk') Patent Act -Controller cannot pass order ignoring newly amended claims which are well within scope of origina PCT claims: HC (See 'Legal Desk') 'Accord and satisfaction' & Arbitration (See 'CORP EINSICHT')

Print

Khadi & Village Industries turnover crosses Rs 1.5 Lakh Crore for First Time

Published: Jul 10, 2024

By TIOLCorplaws News Service

NEW DELHI, JULY 10, 2024: UNDER the leadership of Prime Minister Narendra Modi, the Khadi and Village Industries Commission (KVIC), Ministry of Micro, Small and Medium Enterprises, has set a new record in production, sales, and new employment generation in the financial year 2023-24.

Releasing the provisional figures for the financial year 2023-24 here today, KVIC Chairman Manoj Kumar said that surpassing all previous figures, there has been an increase of 399.69 per cent (approximately 400%) in sales, 314.79 per cent (approximately 315%) in production, and 80.96 per cent (approximately 81%) in new employment generation compared to the financial year 2013-14. In the financial year 2022-23, there was an increase of 332.14% in sales, 267.52% in production, and 69.75% in new employment generation compared to 2013-14.

Kumar said, this remarkable performance of KVIC has made a significant contribution towards realizing the vision of a 'Developed India' by 2047 and making India the third-largest economy in the world. He said, for the first time in the history of independent India, the sales of KVIC products have crossed Rs. 1.55 lakh crore in the financial year 2023-24. The sales figure in the financial year 2022-23 was Rs. 1.34 lakh crore. In the last ten financial years of the 'Modi Government,' the sales of indigenous Khadi and village industry products made by artisans in rural areas, which were Rs. 31154.20 crore in the financial year 2013-14, have increased to the highest level of Rs. 155673.12 crore in the financial year 2023-24, which is the greatest achievement so far. In the financial year 2023-24, KVIC's efforts have created 10.17 lakh new jobs in rural areas, strengthening rural India's economy.

KVIC Chairman has attributed this historic achievement to the inspiration of revered Bapu, the guarantee of Prime Minister Narendra Modi, and the tireless efforts of crores of artisans working in remote villages of the country. He said that Prime Minister Narendra Modi's endorsement of Khadi  has increased people's confidence in Khadi products. Khadi has become a 'new status symbol' of fashion for the youth. The demand for Khadi and village industry products is increasing rapidly in the market, which is reflected in the production, sales, and employment figures. He further said that in the last ten years, major changes and decisions have been taken under the guidance of Prime Minister Narendra Modi to increase the production of Khadi and village industries, which are yielding positive results. He further said that these figures are proof that the trust of the people of the country has increased in 'Make in India,' 'Vocal for Local,' and 'Swadeshi products.'

TIOL CORP SEARCH

TIOL GROUP WEBSITES

taxindiaonline
taxindiainternational
tioltube
taxindiaonline
A Taxongo Website. Copyright © 2016-2022 tiolcorplaws.com All rights reserved.