The government today said it has dissolved the Khadi and Village Industries Commission (KVIC), a move aimed at revamping the institution to make it more effective and efficient and help create job opportunity.
"The government has dissolved the Khadi and Village Industries Commission(KVIC) with effect from July 24," the Ministry of Micro, Small & Medium Enterprises said in a statement.
As per the provisions of the Khadi and Village Industries Commission Act, all members, including the chairman, will have to vacate their office as members/Chairman of the Commission with immediate effect, it said.
"This has been done to revamp the said institution to make it more professionally competent, effective and efficient body for the development and promotion of Khadi and Village Industries and for generation of more employment opportunities in the rural non-farm sector," it added.
All the properties and funds, which immediately before the dissolution were in the possession of the Khadi and Village Industries Commission, shall now vest with the Centre.
