: KVIB releases subsidy worth Rs 348.48 cr to young entrepreneurs of JK #FinanceIndia #StockMarketNEWS KVIB releases subsidy worth Rs 348. 48 cr to young entrepreneurs of JK New Delhi, Feb 23 (KNN) Jammu

@StockMarketNEWS Wed 23 Feb, 2022

Posted in: #FinanceIndia #StockMarketNEWS

KVIB releases subsidy worth Rs 348.48 cr to young entrepreneurs of JK #FinanceIndia #StockMarketNEWS
KVIB releases subsidy worth Rs 348. 48 cr to young entrepreneurs of JK New Delhi, Feb 23 (KNN) Jammu and Kashmir Khadi and Village Industries Board (J&K KVIB) has released a whopping amount of Rs. 348. 48 crore as margin money (subsidy) in favour of entrepreneurs who had applied for loans from the board since 2019.

These details were given in a presser held today by Vice Chairperson KVIB, Dr Hina Shafi Bhat at Press Club, Jammu.

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

Dr Bhat said that 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 that 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.

She stated that 5338 women entrepreneurs have been assisted by the board under its various programmes including providing subsidies of Rs. 1. 58 crore to 49 ex-servicemen and war widows.

Besides, J&K KVIB is establishing eight clusters under handloom, handicrafts and beekeeping sectors under the 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 an 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.

Under the National Scheduled Caste Scheduled Tribe Hub (NSSH) scheme the board has conducted 23 awareness camps, 10 workshops, 10 vendor development programmes and 06 exhibitions besides imparting training to 922 SC and ST candidates under Skill Development and Entrepreneurship Development Programme (EDP).

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 a few simple steps before submitting their applications for availing the benefits on offer.

Regarding the role of board 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.