Stating that Rs 340 crore has been allocated to Khadi and Village Industries Commission in the Union Budget, Mishra said: "It is expected that Khadi production will cross a record Rs 1,300 crore in 2016-17 creating employment for 19.5 lakh persons".
He said that Village Industries production is expected to cross Rs 45,000 crore during 2016-17, creating employment for more than 163 lakh persons.
The MSME Minister said that 2016-17 will be the development year for the sector with more allocation and increased job creation.
Briefing about the roadmap and budget allocation of MSME Ministry here today, Mishra said that under Prime Minister's Employment Guarantee Programme (PMEGP) a sum of Rs 1,139 crore will be utilised during 2016-17 to assist 55,000 projects with Margin Money which will generate employment for more than 4,25,000 persons.
Mishra said that to promote the interest of rural artisans, the Government has decided to take up development of 39 clusters with an approximate cost of Rs 60 crore which will benefit more than 10,000 artisans.
He also said that for both SFURTI and ASPIRE, a web based application and monitoring system will be designed and implemented.
The Minister said that a sum of Rs 43.56 crore has been allotted to take the Coir products to the level of 5.5 lakh metric tonnes and create employment for more than 7.25 lakh persons and exports of more than Rs 1,500 crore.
"This Hub will provide professional support to Scheduled Caste and Scheduled Tribe entrepreneurs to fulfill the obligations under the Central Government Procurement Policy, 2012, adopt global best practices and leverage the Stand Up India initiative," Mishra said.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
