PM Modi FM Nirmala Sitaraman acknowledge 7 years role of Stand Up India initiative
PM Modi FM Nirmala Sitaraman acknowledge 7 years role of Stand Up India initiative
Prime Minister Narendra Modi duly professed Standup India’s initiative in having successfully completed a 7 years role in empowering the Scheduled Caste/Scheduled Tribe (SC/ST) communities and ensuring women empowerment.
The PM added that Standup India has also proliferated
the spirit of enterprise our people are blessed with.
Stand Up India Scheme launched on April 5, 2016 promotes entrepreneurship at the grass-roots level focusing on economic empowerment and job creation. The scheme is up to the year 2025.
It facilitates bank loans between Rs 10 lakh and Rs 100 lakh to at least one Scheduled Caste/Scheduled Tribe borrower and at least one woman borrower per bank branch of Scheduled Commercial Banks. Loans under the scheme are available for only green field projects, meaning first-time venture of the beneficiary.
On the seventh anniversary of the flagship central initiative, Union Finance Minister Nirmala Sitharaman on Wednesday articulated that loans worth about Rs 40,600 crore covering 1.8 lakh entrepreneurs have been sanctioned till.now under the Stand Up India Scheme. Of the total beneficiaries, 80 per cent are women.
She went on to add that It is a matter of pride and satisfaction for her to note that more than 1.8 lakh women and SC and ST entrepreneurs have been sanctioned loans for more than Rs 40,600 crore.
The finance minister also made mention that the scheme has provided wings to aspiring entrepreneurs to showcase their entrepreneurial skills.
The scheme has created an eco-system which facilitates and continues to provide a supportive environment for setting up green field enterprises through access to loans from bank branches of all Scheduled Commercial Banks. Stand-Up India Scheme has proved to be an important milestone in promoting entrepreneurship among SC, ST and women.
News input KV Raman
