Khadi and Village Industries Commission (KVIC) has signed a Memorandum of Understanding (MoU) with the Department of Posts, which is part of the Communications Ministry.

Under this MoU, the postal department employees will physically verify new units being set up across the country under the Prime Minister Employment Generation Programme (PMEGP). KVIC will also train the postal department employees for physical verification.

The MoU was signed by Dy.General Manager, Amanpreet Singh on behalf of Department of Posts and Dy. CEO, PMEGP, Rajan Babu on behalf of KVIC. 

It was signed by KVIC Chairman Manoj Kumar, MSME Ministry joint secretary Vipul Goyal, and KVIC CEO Vatsalya Saxena.

Through this, KVIC will benefit from the services of 1,65,000 post offices spread across the country, out of which 1,39,067 are working in rural areas. 

KVIC Chairman Manoj Kumar said KVIC has signed this MoU with the Postal Department to promote co-operative work culture between the two government departments. 

Through this, along with physical verification of PMEGP units, margin money subsidy will also be settled at a faster pace, he noted.

Kumar 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. So far, a margin money subsidy of ₹25,563.44 crore has been distributed through this scheme against a loan of ₹ 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 ₹3,093 crore.

For the first time in the history of independent India, the turnover of Khadi and Village Industries had crossed the ₹1.55 lakh crore mark in 2023-24. For the first time, 10.17 lakh new jobs have been created in this sector. 

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