500 Cr Allocated To Support Women & ST/SC Entrepreneurs In Budget'16

Wednesday, September 14 2016, 11:42:03

Priya Motiani

JWB Blogger

500 Cr Allocated To Support Women & ST/SC Entrepreneurs In Budget’16

JWB Post

February 29, 2016

Budget 2016-17 is a happy happy thing for the Indian women! Wondering why?

Well, that’s because our dear government has allocated a sum of Rs. 500 crores towards the SC/ST and women entrepreneurs under the Stand Up India Scheme.

“SC and ST entrepreneurs are beginning to show considerable promise in starting and running businesses… I am happy to inform you that the Union Cabinet has approved the Stand Up India scheme to promote entrepreneurship among ST/SCs and women Rs 500 crore has been provided for this purpose,” said Finance Minister Arun Jaitley.

What’s more? A national hub in the Ministry of Micro Small and Medium Enterprises is being set up in collaboration with industry associations to provide professional support to these blooming entrepreneurs.

“We are celebrating the 125th birth anniversary of Shri B Ambedkar. This must become the year of the economic empowerment for SC/ST entrepreneurs… It is proposed to constitute a national SC/ST hub in the MSME Ministry in partnership with industry associations. This hub will provide a professional support to SC/ST entrepreneurs to fulfill the obligations under the Central government procurement policy adopted best practices and leverage the Stand up initiative. The scheme for welfare and skill development of minorities such as multi sectoral development and Ustad shall be implemented effectively,” the minister added while announcing the budget.

The Stand Up India scheme aims to benefit at least 2.5 lakh entrepreneurs in the aforementioned categories, and we are staunchly hoping for this aim to be well accomplished.

Meanwhile, Hurrayyyy!