In a major step towards a self-reliant India, the Chairman of the Khadi and Village Industries Commission (KVIC), Shri Manoj Kumar, recently distributed a margin money subsidy of Rs 100.55 crore to 1463 beneficiaries in the Western Region.
This subsidy was given against a sanctioned loan of Rs 304.65 crore and was distributed under the Prime Minister’s Employment Generation Program, a flagship scheme of the Government of India aimed at generating employment opportunities for artisans.
During the event, the Chairman of KVIC highlighted the crucial role that the Prime Minister’s Status Generation Program is playing in realizing the dream of a self-reliant India as envisioned by Prime Minister Narendra Modi. He also mentioned the various programs run by KVIC to generate employment opportunities for artisans in remote areas and to improve their economic and social status.
Shri Manoj Kumar emphasized the importance of running units successfully in order to build a prosperous, strong, self-reliant, and happy nation. He encouraged the beneficiaries to fulfill Prime Minister Modi’s vision of a self-reliant India by becoming job providers instead of job seekers.
The Prime Minister’s Status Generation Program provides financial assistance and free entrepreneurship development training to entrepreneurs to set up units in the manufacturing and service sectors. The grant amount provided by the Government of India varies from 15% to 35% of the project cost, depending on the location of the unit.
The distribution of the Rs 100.55 crore subsidy by the KVIC is a significant step towards a self-reliant India and will help in providing employment opportunities for unemployed youth in rural and urban areas. The Chairman’s interactions with artisans, organization representatives, and entrepreneurs during the event have further strengthened the ongoing efforts to promote Khadi and Village Industries in the area.
