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Rs 1,276 crore released to support MSME projects: Govt

Tags: MSME, K H Muniyappa, government, IITF, trade fair, jobs, khadi village

November 15, 2012 | COMMENTS ( 0 )

Rs 1,276 crore released to support MSME projects: Govt

Minister of Micro, Small and Medium Enterprises (MSMEs) KH Muniyappa has said that the government has released Rs 1,276 crore in the current fiscal to support 53,826 projects that are expected to generate about 4.31 lakh jobs.

The minister at the inauguration of Techmart at the India International Trade Fair (IITF) 2012 on Wednesday said, "During 2012-13, Rs 1,276 crore for 53,826 projects has been released, which are likely to generate jobs for around 4.31 lakh jobs."

“An outlay of Rs 9,700 crore had been proposed for the Prime Minister's Employment Generation Programme (PMEGP) in the XII Five-Year Plan to set up 4 lakh projects at the cost of (at Rs 23 lakh margin money per project) with creation of 32-lakh employment,” he added.

Under the PMEGP, urban and rural entrepreneurs in the general category can avail a subsidy of 15 per cent and 25 per cent on the project cost. In the case of weaker sections of society, 25 per cent and 35 per cent subsidy is provided for urban and rural businessmen.

The minister asked the Khadi Village Industries Commission to explore further avenues for the development of village and cottage industries.

The Khadi and Village Industries Commission, the nodal agency to implement the PMEGP, assigns targets to its field officers and the khadi and village industries boards of various states.

Meanwhile, the Muniyappa also inaugurated the MSME Expo-2012 showcasing a wide variety of products and the Coir Pavillion at the fair.

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