Apr 5 : The Indian government has announced the extension of the Stand-Up India scheme until 2025, providing a further boost to entrepreneurs from marginalized sections of society. The scheme, which was launched in 2016, aims to promote entrepreneurship among women, Scheduled Castes (SC), and Scheduled Tribes (ST) by providing them with access to credit.
Under the scheme, eligible entrepreneurs can avail loans between Rs 10 lakh and Rs 1 crore for setting up a greenfield enterprise in manufacturing, services, or trading sectors. The loans are offered without collateral for amounts up to Rs 10 lakh and with a partial collateral for loans between Rs 10 lakh and Rs 1 crore.
The extension of the scheme is expected to benefit a larger number of entrepreneurs from marginalized communities and promote entrepreneurship and job creation in the country. The scheme has already disbursed over Rs 25,000 crore in loans to more than 1.14 lakh beneficiaries across the country.
In addition to providing access to credit, the scheme also provides handholding support and training to beneficiaries to help them set up and manage their enterprises. The government’s decision to extend the scheme is expected to have a positive impact on India’s economy by promoting entrepreneurship and creating jobs, particularly in rural areas.
