Amidst Covid Gloom, KVIC Blooms; Generates Highest Ever Employment under PMEGP, Gadkari Hails Performance

(File pic : Union  MSME Minister Nitin Gadkari)

Speed Post News Network

New Delhi : In a year marred by the economic despair surrounding the Covid-19 pandemic, Khadi and Village Industries Commission (KVIC) has just recorded its best ever performance in job creation under the Prime Minister’s Employment Generation Programme (PMEGP). In FY 2020-21 ending March 31, that was largely affected by the nationwide lockdown, KVIC disbursed Rs 2,188.78 crore to create a whopping 5,95,320 jobs under PMEGP, the highest ever since its launch in 2008. In 2020-21, KVIC established 74,415 projects across the country.

Union MSME Minister Nitin Gadkari lauded the achievement of KVIC and said that creation of local jobs would provide livelihood to lakhs of people, in turn, bolstering the country’s economy.

In year 2020-21, against the margin money disbursement target of Rs  2,120.81 crore, KVIC doled out Rs 2,188.78 crore and achieved 103.2% of the target, nearly 14% more than margin money disbursed in 2019-20. In setting up of new projects and employment generation, KVIC achieved 106.2% of the target, according to a PIB release.

KVIC Chairman Vinai Kumar Saxena attributed this achievement to the Prime Minister’s clarion call for “Aatmanirbhar Bharat” and “Vocal for Local” and constant guidance and support of MSME Minister Nitin Gadkari.

The government’s thrust on local manufacturing has prompted many youth, women, and distressed people to take up self-employment activities under PMEGP. Two major decisions by KVIC regarding timely execution of applications also helped the cause. First, the timeframe for scrutinising and forwarding the applications to the banks by its state directors reduced from 90 to 26 days. Second, monthly coordination meetings with the banks were started at different levels which has also helped timely disbursal of loans to the beneficiaries.