KVIC launches 72 units under PMEGP

September 17, 2022

The Union MSME minister Narayan Rane recently inaugurated 72 units assisted under the PMEGP and disbursed margin money subsidy to 720 PMEGP beneficiaries.

What is PMEGP?

The Prime Minister’s Employment Generation Programme (PMEGP) is a flagship scheme of the Union MSME ministry.
It was launched in 2008 by subsuming the erstwhile Rural Employment Generation Programme (REGP) implemented by KVIC and Pradhan Mantri Rojgar Yojana (PMRY) implemented by District Industries Centers.
Its purpose of this credit linked subsidy scheme is to boost jobs through the establishment of micro enterprises and factories in rural and urban regions of India.
The Khadi and Village Industries Commission (KVIC) is the nodal agency involved in the implementation of this scheme at the national level.
The maximum cost of the project eligible for subsidy under this scheme in manufacturing sector is Rs.50 lakh and in service sector, it is Rs.20 lakh.
Till September 15, 2022, the KVIC has sanctioned around 25,100 projects and released more than 802 crore margin money. It has generated around 2 lakh jobs.
The KVIC is currently geo-tagging all PMEGP units to as to verify the actual physical status of the units and monitor their performance during a specific period of time.
Till date, more than 1 lakh PMEGP units have been geotagged, enabling anyone to locate the unit using a mobile application.
The role of the District Level Task Force Committee has been removed for approving the PMEGP projects. The approvals are directly given by the state directors of the KVIC and are sent to the banks for loans.

About KVIC

The Khadi and Village Industries Commission (KVIC) is a statutory body set up in 1957 under the MSME ministry to promote, facilitate and assist in the establishment and development of khadi and village industries in rural India. Its purpose is to boost jobs in rural regions and achieve self-reliance amongst people and build a strong rural community spirit.

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