Start-up Ecosystem In India

[pib] Stand Up India Scheme

Note4Students

From UPSC perspective, the following things are important :

Prelims level : Stand-Up India Scheme

Mains level : Not Much

The Ministry of Finance has informed that more than 81% of account holders are Women under Stand Up India Scheme.

Try this PYQ from CSP 2016:

Q.With reference to ‘stand up India scheme’, which of the following statement is/are correct?

  1. Its purpose is to promote entrepreneurship among SC/ST and women entrepreneurs.
  2. It provides for refinance through SIDBI.

Select the correct answer using the code given below.

(a) 1 only

(b) 2 only

(c) Both 1 and 2

(d) Neither 1 nor 2

Stand-Up India Scheme

  • Stand Up India Scheme was launched on 5 April 2016 to promote entrepreneurship at the grass-root level of economic empowerment and job creation.
  • This scheme seeks to leverage the institutional credit structure to reach out to the underserved sector of people such as SCs, STs and Women Entrepreneurs.
  • The objective of this scheme is to facilitate bank loans between Rs.10 lakh and Rs.1 crore to at least one SC or ST borrower and at least one woman borrower per bank branch for setting up a Greenfield enterprise.
  • The offices of SIDBI and NABARD shall be designated Stand-Up Connect Centres (SUCC)
  • It is similar to but distinct from Startup India.

Back2Basics: Start-Up India Scheme

  • Startup India Scheme is an initiative of the Indian government, the primary objective of which is the promotion of startups, generation of employment, and wealth creation.
  • It was launched on the 16th of January, 2016.
  • A startup defined as an entity that is headquartered in India, which was opened less than 10 years ago and has an annual turnover of fewer than ₹100 crores (US$14 million).
  • The action plan for this initiative is based on the following three pillars:
  1. Simplification and Handholding
  2. Funding Support and Incentives
  3. Industry-Academia Partnership and Incubation
  • An additional area of focus is to discard restrictive States Government policies within this domain, such as License Raj, Land Permissions, Foreign Investment Proposals, and Environmental Clearances.
  • It was organized by The Department for promotion of industry and internal trade (DPI&IT).
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Pawam Khatri
Pawam Khatri
6 months ago

Thank you for the information.
I really appreciate the work of the writer. It is actually very helpful for the new start ups in India. To know how to avail this loan and many more information about this loan and other ones too.
Please visit:- https://www.mecitizen.in/business/stand-up-india