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Over 1,10,019
loans have been extended since the launch of ‘Stand up India’ scheme as on January
31, 2021, since its inception. The beneficiaries can get a loan of Rs 10 lakh
to Rs 1 crore to start or increase their business.
Anurag Singh
Thakur, Union Minister of State for Finance & Corporate Affairs, stated
this in a written reply to a question in Rajya Sabha recently.ÂÂ
Giving more
details, the minister stated that Stand Up India Scheme was launched by the
Government on April 5, 2016 and was subsequently extended up to the year 2025.
The scheme facilitates bank loans between Rs 10 lakh and Rs 1 crore to at least
one beneficiary belonging to Scheduled Caste or Scheduled Tribe and at least
one woman beneficiary per bank branch of Scheduled Commercial Banks (SCBs), for
setting up greenfield enterprises in the manufacturing, services or the trading
sectors.ÂÂ
The scheme was
aimed to boost MSME sector to kick start more manufacturing to strengthen
tier-2 connect.
Taking it a
step ahead in the recent Union Budget 2021, margin money for the project cost
in the scheme was reduced from 25 per cent to 15 per cent. Activities allied to
agriculture such as pisciculture, beekeeping, poultry, livestock, rearing,
grading, sorting, aggregation agro industries, dairy, fishery, agri clinic and
agribusiness centers, food and agro-processing, have also become eligible for
the benefits.
The New Delhi Declaration, adopted recently, recognises startups and Micro, Small, and Medium Enterprises (MSMEs) as natural drivers of growth, essential for driving innovation and employment.
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INDUSTRIAL PRODUCTS FINDER (IPF) is India’s only industrial product portal. Referred to as the ‘Bible’ of the manufacturing sector in India,
INDUSTRIAL PRODUCTS FINDER (IPF) is India’s only industrial product portal. Referred to as the ‘Bible’ of the manufacturing sector in India,
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