New Delhi: The Khadi and Village Industries Commission (KVIC) has broken all previous records to create the highest ever employment under the Prime Minister’s Employment Generation Program (PMEGP) in the financial year 2021-22.
This is for the first time since the launch of the PMEGP Scheme in 2008 that KVIC has established over 1,00,000 new units in a financial year.
These 1,03,219 units have been established at a total capital of nearly Rs 12,000 crore, out of which KVIC disbursed a margin money subsidy of Rs 2978 crore while the bank credit flow was nearly Rs 9,000 crore.
With the setting up of an unprecedented 1.03 lakh new manufacturing and service units and the creation of over 8.25 lakh jobs, the flagship PMEGP has emerged as the government’s most powerful tool of self-sustainability in the year 2021-22.
This was achieved even though the country was under partial lockdown for the first three months of the year during the second wave of the Covid-19 pandemic.
Compared to the previous year, 2020-21, the number of units and employment created under PMEGP has gone up by 39 per cent each, while the margin money distribution has also witnessed a jump of 36 per cent in FY 2021-22.
KVIC Chairman, Vinai Kumar Saxena, attributed this quantum jump in employment creation to Prime Minister Narendra Modi’s push for local manufacturing to achieve self-reliance.
Sources said the KVIC has also begun geo-tagging of all PMEGP units so as to verify the actual physical status of the units and their performance at any point in time.