KVIC Disburses Rs.116 Cr For Telangana, AP And Other Southern States Under PMEGP Scheme
A subsidy of Rs.116 crore was disbursed for Telangana, Andhra Pradesh, Karnataka, Tamil Nadu, Kerala and Puducherry
Hyderabad: Khadi and Village Industries Commission (KVIC) disbursed margin money subsidy of Rs 300 crore to 11,480 service sector beneficiaries across the country under the Prime Minister’s Employment Generation Programme (PMEGP) on Wednesday at Rajghat office in New Delhi.
This disbursement was done against the loan sanction of Rs 906 crore. In the southern states of Telangana, Andhra Pradesh, Karnataka, Tamil Nadu, Kerala and Puducherry, a subsidy of Rs 116 crore was disbursed, covering 4,565 projects while loans exceeding Rs 343 crore were sanctioned for these projects.
The amount was released by KVIC chairman Manoj Kumar to the bank accounts of beneficiaries through a virtual medium. Speaking on the occasion, Kumar said the scheme is not limited to providing only financial assistance, but it has also become a social movement, which is connecting lakhs of youth, women and artisans with self employment and entrepreneurship. Since its inception till the financial year 2024-25, the PMEGP has become a pillar of entrepreneurship and self-reliance in urban and rural India. A total of 10,18,185 micro enterprises have been set up under the scheme, for which loans up to Rs 73,348 crore have been sanctioned by the government of India.
