Which of the following statements with reference to Khadi and Village Industries Commission KVIC is ...........

Jammu and kashmir Economy

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Which of the following statements with reference to Khadi and Village Industries Commission (KVIC) is/are correct?

It is a statutory body under the Ministry of Micro, Small and Medium Enterprises
It was formed by the Government of India in April 1957.

1 only

2 only

Both

None

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Explanation:

The Khadi and Village Industries Commission (KVIC) is a statutory body formed in April 1957 by the Government of India, under the Act of Parliament, 'Khadi and Village Industries Commission Act of 1956'.

It is an apex organisation under the Ministry of Micro, Small and Medium Enterprises.

It seeks to - "plan, promote, facilitate, organise and assist in the establishment and development of khadi and village industries in the rural areas in coordination with other agencies engaged in rural development wherever necessary."