KVIC & DoP Sign MoU For Physical Verification of PMEGP

Khadi and Village Industries Commission (KVIC), Ministry of Micro, Small and Medium Enterprises (MSME) signed an important MoU with the Department of Posts working under the Ministry of Communications at KVIC, Rajghat New Delhi office on August 20.

Attendees on this occasion

In the august presence of Chairman, KVIC, Shri Manoj Kumar, Jt Secretary, MSME Shri Vipul Goyal, CEO, KVIC Shri Vatsalya Saxena and General Manager, Department of Posts, Ms. Manisha Bansal Badal, the MoU was signed by Dy. General Manager, Dr. Amanpreet Singh on behalf of Department of Posts and Dy. CEO, PMEGP, Shri Rajan Babu on behalf of KVIC. 

About this MoU

Under this, the employees of the Postal Department working across the country will do physical verification of new units being set up across the Country under the Prime Minister Employment Generation Programme (PMEGP). KVIC will also train the employees of the Postal Department for physical verification.

Importance of this MoU

KVIC has signed this MoU with the Postal Department to promote co-operative work culture between the two government departments. Through this, KVIC will get the benefit of the more than 150-year-old communication network of the Postal Department spread across the country. Through this, along with physical verification of PMEGP units, margin money subsidy will also be settled at a faster pace.

Benefits of this MoU

Through this, KVIC will get the benefit of the services of 1,65,000 post offices spread across the country, out of which 139,067 are working in rural areas.

Margin money subsidy

So far, margin money subsidy of Rs 25563.44 crore has been distributed through this scheme against a loan of Rs 69021.29 crore. In the last financial year 2023-24 itself, PMEGP has generated employment for more than 9.80 lakh entrepreneurs and distributed margin money subsidy of more than Rs 3093 crore.

Turnover of Khadi and Village Industries

Under the leadership of Prime Minister Shri Narendra Modi and guidance of the Ministry of MSME, for the first time in the history of independent India, the turnover of Khadi and Village Industries has crossed the figure of 1 lakh 55 thousand crore. The Prime Minister’s brand power has led to a five-fold increase in the sale of Khadi and Village Industries products and a four-fold increase in production in the last 10 years.

New employment opportunities

KVIC Chairman said that PMEGP has promoted entrepreneurship throughout the country and created new employment opportunities. Since the inception of the scheme, PMEGP has supported the setting up of more than 9.69 lakh new projects and generated employment for more than 84.64 lakh entrepreneurs.

Jobs Creation through KVIC

For the first time, 10.17 lakh new jobs have been created in this sector. Officers and employees of the Department of Posts and KVIC were present at the event.