J&K ‘KVIB releases Rs 348 cr subsidy to young entrepreneurs of J&K’

Jammu: Jammu and Kashmir Khadi and Village Industries Board (J&K KVIB) have released a whopping amount of Rs. 348.48 crore as margin money (subsidy) in favor 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 benefitting 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 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 a subsidy 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 the Union Ministry of MSME, she informed.

 

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).