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KVIC plays key role in enhancing employment under PMEGP

Mar '20
Pic: Shutterstock
Pic: Shutterstock
India’s Khadi and Village Industries Commission (KVIC) is playing a pivotal role in enhancing employment opportunities across India under the Prime Minister Employment Generation Programme (PMEGP), according to its chairman Vinai Kumar Saxena, who recently said the scheme encourages traditional artisans, self help groups and the educated unemployed to build an enterprise.

MEGP also helps prevent migration of unskilled workers to urban areas, Saxena was quoted as saying by an Indian media house.
Aligned with the Digital India doctrine of Prime Minister Narendra Modi, KVIC had launched an integrated PMEGP portal in July 2015 to promote small and medium enterprises (SMEs).

On an average, KVIC used to receive less than 10,000 applications every year before 2015. However, after the launch of the online portal, it receives 4,00,000 applications every year on an average. This itself shows the popularity of the scheme, he said.

KVIC, being the nodal agency for PMEGP, receives funds from the ministry of micro, small and medium enterprises, helps in the identification and screening of deserving candidates and then releases the funds to the Corpworation Bank, a nodal bank approved by the ministry.

As on February 5, KVIC has already released ₹1,400 crore to the financing banks, out of which more than ₹1,300 crore has already been disbursed to the respective beneficiaries, he added.

Fibre2Fashion News Desk (DS)

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March 2020

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