: PMEGP scheme helps to prevent migration of unskilled workers to urban areas, says KVIC chairman #FinanceIndia #StockMarketNEWS PMEGP scheme helps to prevent migration of unskilled workers to urban

@StockMarketNEWS Thu 12 Mar, 2020

Posted in: #FinanceIndia #StockMarketNEWS

PMEGP scheme helps to prevent migration of unskilled workers to urban areas, says KVIC chairman #FinanceIndia #StockMarketNEWS
PMEGP scheme helps to prevent migration of unskilled workers to urban areas, says KVIC chairman New Delhi, Mar 3 (KNN) Lauding the Prime Minister Employment Generation Program (PMEGP), Khadi and Village Industries Commission (KVIC) Chairman Vinai Kumar Saxena has said that the scheme helps to prevent migration of unskilled workers to urban areas.

KVIC chairman said India is passing through a transitional phase from developing nation to a developed nation.

"We aim not only to provide employment at the doorstep, but also to encourage the traditional artisans, self-help groups and educated unemployed to build an enterprise of their dreams. This scheme (PMEGP) also helps to prevent migration of unskilled workers to urban areas," he added.

Saxena said aligned with the Digital India doctrine of Prime Minister Narendra Modi, KVIC had launched an integrated PMEGP portal developed in July 2015 to promote more number of small and medium enterprises in rural and urban areas.

"Before 2015, on an average, KVIC used to receive less than 10,000 applications yearly, however, after the launch of the online portal we receive an average 4,00,000 applications annually ,this itself shows the popularity of the scheme," he said.

Saxena further said that this year KVIC will establish more projects and disburse money.

''We aim to break this record and aim to establish 77, 000 projects and disburse Rs 2,400 Crore of margin money giving employability to more than 6 lakh people. This, in spite of the fact that KVIC could not implement the PMEGP program due to model code of conduct imposed by the Election Commission between March 10 to May 26 2019", Saxena said.

Later, he said KVIC being the nodal agency for PMEGP receives funds from the Ministry of Micro, Small and Medium Enterprises (MSMEs), helps in the identification and screening of deserving candidates and then releases the funds to the Corporation Bank, a nodal bank approved by the ministry.

The Corporation Bank then releases it to the financing banks for beneficiaries in a transparent disbursement mechanism.

''This year, as on February 5, KVIC has already released Rs 1,400 crore to the financing banks, out of which more than Rs 1,300 crore has already been disbursed to the respective beneficiaries,'' he added.

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