Prime Minister Narendra Modi launched the ‘Start Up India‘ initiative aimed at boosting entrepreneurship in India. Finance Minister Arun Jaitley was also present at the event held in Noida.
- The Stand Up India initiative will promote entrepreneurship among women, SC & ST communities. It is expected to benefit a large number of such entrepreneurs, as it is intended to facilitate at least two such projects per bank branch (Scheduled Commercial Bank) on an average one for each category of an entrepreneur.
- The scheme was launched in the presence of Uttar Pradesh Governor Ram Naik, Union Minister for Culture and Tourism and Union Minister of State for Finance among others.
- PM Modi said that his vision for ‘Stand Up India’ is to give opportunities to Dalit and poor people to being reforms in India.
- Through ‘Stand Up India’ initiative, we intend to turn job seekers into job creators, said Modi.
- PM Modi also flagged off 5100 e-rickshaws under MUDRA Yojana and interacted with beneficiaries, besides inaugurating a Kaushal Vikas Kendra in Noida.
The overall intent of the proposal is to leverage the institutional credit structure to reach out to these undeserved sectors of the population by facilitating bank loans in the non-farm sector set up by such SC, ST and Women borrowers. The initiative will also develop synergies with ongoing schemes of other departments.
The process would be led by the Small Industries Development Bank of India (SIDBI) with involvement of the Dalit Indian Chamber of Commerce and Industry (DICCI) and various sector-specific institutions across the country.
The offices of SIDBI and National Bank for Agriculture and Rural Development (NABARD) shall be designated Stand Up Connect Centres (SUCC).
