Rs 1936 cr subsidy to 1621 IG units in current fiscal

SRINAGAR: To ensure successful implementation of Prime Minister’s Employment Generation Program (PMEGP) for setting up of income generating units and for providing hassle free loan facilities to unemployed educated youth a day long workshop was organized here Monday by J&K Khadi and Village Board (KVIB).
Workshop, according to an official handout, was presided over by the Financial Commissioner, Industries and Commerce, Khurshid Ahmad Ganai, while Director Rural Development, Director Industries and Commerce, Secretary KVIB and representatives of various banks and financial institutions operating in the Valley took part in the function.
The Financial Commissioner impressed upon the representative of banks and other financial institutions to ensure transparent, timely and hassle free loans to the beneficiaries for setting up their income generating units. He also urged them to adopt proper guidelines and ensure completion of targets by the end of current fiscal.
During the workshop various matters concerning providing loans to the beneficiaries were discussed and it was given out that under PMEGP, Rs 1935.64 lakh of subsidy was provided for establishing 1621 income generating units thus providing employment opportunities to 12968 unemployed youth in the Valley during current fiscal.
Meanwhile, the Financial Commissioner had a session with representatives of J&K Chamber of Industries and Commerce and other Trade Association.
During the session, various aspects related trade and commerce were discussed. The representatives of these Associations put forward their demands and aware the Financial Commissioner about the problems being faced by the business community in the Valley. They also put their suggestions for the betterment of handicraft sector in the Valley.
Ganai assured them that their problems and issues will be actively and expeditiously taken up with concerned quarters.
He said that for the development of Handicraft sector government is showcasing State handicrafts at international level by organizing exhibition and shows, while within the country Handicraft Expo’s are being organized for the exhibition and sale of handicrafts to give fillip to the industry, which is a vital component of state economy.