Stand Up India [ Detailed Analysis (CA/GS) - Policies & Governance ]
Stand up India scheme supports entrepreneurship among SCs, STs and women to empower them. It was launched on 5th April 2016 by Indian Prime Minister Narendra Modi. Stand up India scheme offers up to ₹10 lakh and ₹1 crore bank loans for SCs STs and women for their new businesses.
- The objective behind this scheme is to raise India as a developed nation by 2022. This scheme is aimed to promote maximum number of people to enter in the entrepreneurship.
- At the initial phase, Indian Government has started this scheme with some private companies such as GOOGLE and LIC India.
- Pradhan Mantri Mudra Yojana is the root of the Stand-up India scheme
- Applicant must belong to SC or ST cast or women
- Their organization must be registered under LLP or have Partnership or individual entity
- Age of the company must be less than 5 years
- The product manufacturing by their company must be related to commercialization
- The company must have to be certified by DIPP
- Annual turnover of the company must be less than or equal to 25 crores.
- “RuPay” a debit card will be given to the company to withdraw money.
- Many support service will be provided such as training and marketing.
- Credit assurance of Rs 5000 Crore will be provided by NCGTC
- The separate web portal is available to serve loan seekers.
- A detailed credit history of all the borrowers will be provided.
- The businesses under the Stand-up India Scheme not need to pay TAX for initial 3 years.
- Provide the strategic advantage of expansion with institutional credit structure to underserve sections of the society in SC, ST and women lone seekers.
- Improve synergies with the other such schemes even if in different departments
- Creates a charging and service station for development and emergence of small enterprises and also develops many opportunities for the entrepreneurs.
- Published on: September 22, 2016