KVIC puts J&K ahead of all Indian states in creating self-employment under PMEGP

New Delhi: Khadi and Village Industries Commission (KVIC) has just scripted the golden chapter of industrial growth and employment boom in Jammu & Kashmir (J&K). In the year 2021-22, KVIC, in J&K, has established the highest number of manufacturing and service units under its flagship scheme- Prime Minister's Employment Generation Program (PMEGP) and created the highest number of jobs in comparison with all other states and UTs in India.

With a record 21,640 manufacturing and service units, J&K stands way ahead of bigger states like Uttar Pradesh (12,594 units), Madhya Pradesh (8082 units), Tamil Nadu (5972 units), Karnataka (5877) and Gujarat (4140 units). A massive 1.73 lakh new employment in J&K in 2021-22, under PMEGP alone, is also the highest across all states and UTs in India.

In 2021-22, KVIC had set a target of 3360 PMEGP units in J&K but buoyed by the Centre's major push to local manufacturing, it ended up establishing a whopping 21,640 units and thus exceeding the target by a massive 544 per cent. In J&K, these units have been established with a total capital of Rs 2101 crore. Out of this, KVIC disbursed a record margin money subsidy of Rs 467 crore while the Bank Credit flow was Rs 1634 crore. The margin money subsidy disbursed by KVIC in J&K is also the highest among all states/UTs in the country.

KVIC Chairman Vinai Kumar Saxena attributed this employment spree to the Prime Minister's vision for all-round development and self-sustainability of Jammu & Kashmir. "Such large-scale self-employment in J&K is a contribution of KVIC towards making the state self-sustainable and bringing it at par with other states in terms of development. The record number of PMEGP units in J&K is also a testimony of how people of J&K, after abrogation of Article 370 are participating in government schemes to strengthen the local economy and pave the way for overall development of the state," Saxena said.

It is pertinent to mention that development of J&K has been the focus area of the Government led by PM Narendra Modi. Special thrust has been given on creation of local employment in the state since 2014-15 and the efforts have fortified since 2019 when J&K was made a union territory.

PMEGP was launched in the year 2008 and for the next 6 years, i.e. till 2013-14, this scheme progressed at snail's pace in J&K