KVIC generates highest ever employment under PMEGP amidst raging pandemic
05 April 2021
In a year marred by the economic despair caused by the Covid-19 pandemic, Khadi and Village Industries Commission (KVIC) has recorded its best ever performance in job creation under the Prime Minister’s Employment Generation Programme (PMEGP).
In financial year ending 31 March 2021, an year of despair arising from the pandemic and the nationwide lockdown, KVIC disbursed Rs2,188.78 crore to create a whopping 5,95,320 jobs under PMEGP, the highest ever since its launch in 2008. In 2020-21, KVIC also established 74,415 projects across the country.
MSME Minister of micro, small and medium industries (MSME) 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 Rs2,120.81 crore, KVIC doled out Rs2,188.78 crore and achieved 103.2 per cent of the target, nearly 14 per cent more than margin money disbursed in 2019-20. In setting up of new projects and employment generation, KVIC achieved 106.2 per cent of the target.
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 to local manufacturing has prompted many youths, 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.