Topics Covered: Government policies and interventions for development in various sectors and issues arising out of their design and implementation.
Centre extends ‘Stand Up India Scheme’ to 2025:
Context:
The Government of India has extended the duration of ‘Stand Up India Scheme’ up to the year 2025.
Performance of the scheme:
- Banks have sanctioned Rs 26,204 crore to about 1,16,266 beneficiaries under the Scheme in the last five years.
- The scheme has benefited more than 93,094 women entrepreneurs.
About the ‘Stand Up India Scheme’:
- Launched in 2016.
- It seeks to promote entrepreneurship at the grass-root level of economic empowerment and job creation.
- The offices of SIDBI and NABARD shall be designated Stand-Up Connect Centres (SUCC).
- Loans under the scheme are available for only Greenfield project.
The objective of the scheme is:
To facilitate loans from Scheduled Commercial Banks (SCBs) of value between Rs 10 lakh and Rs 1 crore to atleast one SC or ST borrower and one woman borrower per bank branch for setting up green field enterprise in manufacturing, service or trading sector.
Insta Curious:
Do you know about Startup India Seed Fund Scheme? Reference: Click here
InstaLinks:
Prelims Link:
- Key features of the scheme.
- Eligibility.
- Benefits.
Mains Link:
Discuss the significance of the scheme.
Sources: the Hindu.