pmegp: Over 8.25 lakh jobs created underneath PMEGP in FY22: Govt

The federal government on Tuesday mentioned 1.03 lakh new manufacturing and repair items have been arrange underneath its flagship scheme PMEGP together with creation of over 8.25 lakh jobs within the final monetary 12 months. “As in comparison with the earlier 12 months, 2020-21, the variety of items and employment created underneath PMEGP has gone up by 39 per cent every, whereas the margin cash distribution (subsidy) has additionally witnessed a bounce of 36 per cent in FY 2021-22,” the Ministry of Micro, Small and Medium Enterprises mentioned in an announcement.

In line with the ministry, that is for the primary time for the reason that launch of the Prime Minister Employment Technology Programme (PMEGP) Scheme in 2008, that Khadi and Village Industries Fee (KVIC) has established over one lakh new items in a monetary 12 months.

“These 1,03,219 items have been established at a complete capital of almost Rs 12,000 crore out of which KVIC disbursed a margin cash subsidy of Rs 2,978 crore whereas the financial institution credit score circulate was almost Rs 9,000 crore,” the assertion mentioned.

The margin cash subsidy of Rs 2,978 crore given by KVIC within the monetary 12 months 2021-22 can be the best since 2008.

A whopping 8,25,752 new employment have been created throughout the nation, which can be the best to this point underneath PMEGP, the assertion mentioned.

Total, the variety of items arrange underneath PMEGP since 2014-15 has elevated by 114 per cent, employment creation has gone up by 131 per cent, and the margin cash distribution has seen a quantum bounce of 165 per cent in 2021-22.

KVIC Chairman Vinai Kumar Saxena attributed this quantum bounce in employment creation to the prime minister’s push for native manufacturing to realize self-reliance.

“This massive thrust to native manufacturing and self-employment in wake of the Covid-19 pandemic has accomplished wonders. A lot of youths, ladies and migrants have been prompted to take up self-employment actions underneath PMEGP.

“Additional, a slew of coverage choices taken by the Ministry of MSME and KVIC to expedite the execution of tasks underneath PMEGP helped KVIC obtain its finest ever efficiency,” Saxena mentioned.