KVIB sets up 900 industrial units, 500 coming up in Kashmir

Srinagar, Feb 17 (UNI) An amount of Rs 16.80 crores as credit facility and subsidy component of Rupees five crores has been provided to people to set up 903 industrial units, generating employment avenues for 14,000 persons in the Kashmir valley so far during the current financial year.

Five hundred more such income generating units will be established by the end of this fiscal with a loan facility of Rupees five crore and subsidy of Rupees 1.50 crore by the Khadi and Village Industries Board (KVIB) under the Rural Employment Generation Programme (REGP) in the Kashmir division.

An official spokesman while dwelling upon the activities of the board said that new schemes and projects will be introduced in the newly carved out districts to accelerate the employment generating activities.

He said the government has decided to revive inherent cottage industries and easy financing and subsidy will be provided to the beneficiaries and artisans living in the rural areas of the valley.

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