KVIB releases 348.48-crore subsidy to young entrepreneurs in J&K

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KVIB releases 348.48-crore subsidy to young entrepreneurs in J&K

 

Jammu, Feb 22: Jammu and Kashmir Khadi and Village Industries Board (J&K KVIB) hahaveeleased a whopping amount of Rs 348.48 crore as margin money (subsidy) in favour entrepreneurs who had applied loloansrom the board since 2019.

This was informed in a presser held on Tuesday by the ce chairperson of KVIB, Dr Hina Shafi Bhat.

Bhat informed that the board has released this amount to 15,459 unit holders under JK the  Rural Employment Generation Program (JKREGP) and Prime Minister's Employment Generation Program (PMEGP) directly benefitting 118,188 individuals of the UT in these 3 years.

She stated that 5338 women entrepreneurs have been assisted by the board under its various program including providing subsidies for Rs. 1.58 crore to 49 ex-servicemen and war widows.

KVIB has no cap on extending assistance to local youth and can provide handholding to any number of youth willing to start their enterprises in the UT, she said, adding, the board has created employment avenues for lakhs of educated unemployed, poor, down-trodden and marginal sections of the society.

She also revealed that KVIB under the mission Sabka Saath Sabka Vikas is ensuring its reach to all segments of the society.

Besides, J&K KVIB is establishing eight clusters under handloom, handicrafts and beekeeping sectors under Scheme of Fund for Regeneration of Traditional Industries (SFURTI) of Union Ministry of MSME, she informed.

She added that the scheme aims at protecting the interests of traditional artists and craftsmen who have adopted the traditional trades for earning their livelihoods.

She informed that the clusters are being established with approved assistance of Rs 20 crore from the Union Ministry of MSME involving 10000 artisans/beekeepers, directly and indirectly, in line with the promises made by PM Modi.

Dr Bhat said that she encourages the youth of J&K to apply for the relevant schemes being implemented by the board. She said that it could be done online by following fea w simple steps before submitting their applications for availing the benefits on offer.

Regarding the role of bothe ard during the ensuing pandemic, VC highlighted that KVIB has worked hard in fighting Covid-19 by manufacturing more than 11 lakh masks through its Khadi institutions and PMEGP/JKREGP unit holders thereby creating approximately 10,500 man-days of work. The masks were supplied to district administrations, government organizations, police and military forces.

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