6 years of Stand-Up India Scheme
On 5th April 2016, The Stand-up India scheme was launched by the Indian government. On 5th April 2022, it completed six years.
Why was this scheme launched?
This scheme was launched by the central government with the aim of encouraging entrepreneurship from the grass-root level so that job creation and economic empowerment can be fostered especially among the ST, SC, and women entrepreneurs of the country.
Accomplishments of this scheme
- Under this scheme over 1.33 lakh new job-creators and entrepreneurs have been facilitated.
- Over 1 lakh women entrepreneurs have been benefited under this scheme in the last six years.
- Under this scheme, Rs. 30,160 crores have been sanctioned by the government to a total of 1,33,995 accounts up to 21st March 2022.
- Out of the total sanctioned accounts, 6,435 accounts belonged to ST borrowers with Rs 1373.71 crore sanctioned and 19,310 accounts belonged to SC borrowers with Rs 3976.84 crore sanctioned.
- To 1,08,250 women entrepreneurs who held accounts, Rs. 24809.89 crore has been sanctioned.
Changes made to this scheme under Budget 2022
A few positive changes were introduced for this scheme in the 2022 Budget 2022 which include the margin money extent that is to be brought by the borrower has been reduced from 25 percent to 15 percent of the project cost though, the borrower has to keep on contributing a minimum of 10 percent of the cost of the project as their own contribution. Under this scheme, loans for allied agriculture activities like rearing, beekeeping, dairy, poultry, grading, fishery, pisciculture, aggregation agro-industries, rearing, livestock, sorting, grading, agribusiness centers, agriclinic, food & agro-processing, etc. and the services supporting these, will be covered. A Credit Guarantee Fund for Stand-Up India (CGFSI) has also been set up by the government in order to extend collateral-free coverage. The scheme will also be extending handholding support to the borrowers along with a credit facility.
How can one apply for this scheme?
Individuals who will be applying to receive the benefits under this scheme can apply online via the www.standupmitra.in portal.
Category: Government Schemes Current Affairs
|View All E-Books: Recent Release|