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March 23, 2020 Monday 10:08:02 AM IST

Development of Entrepreneurship in the Country

Policy Indications

The Ministry of Skill Development and Entrepreneurship (MSDE) is implementing a pilot scheme, Pradhan Mantri Yuva Udyaimta Vikas Abhiyaan (PM YUVA) towards creating an enabling ecosystem through entrepreneurship education, training, advocacy and easy access to entrepreneurship network. The scheme focuses on students/trainees and alumni coming out from skilling ecosystem {i.e. Industrial Training Institutes (ITIs), Polytechnics, Pradhan Mantri Kaushal Kendras (PMKKs) and Jan Shikshan Sansthans (JSS)}. The scheme covers 10 States and 2 Union Territories {viz. i.e. Uttar Pradesh (6 districts), Uttarakhand (4 districts), Bihar (10 districts), West Bengal (12 districts), Assam (11 districts), Meghalaya (2 districts), Maharashtra (5 districts), Tamil Nadu (17 districts), Telangana (8 districts), Kerala (4 districts), Delhi (1 district) and Puducherry (1 district)}. The scheme envisages creation of 600 new and 1000 scale-up enterprises.  

Further, with an aim to promote a culture of entrepreneurship among India’s youth and inspire them to set-up their own enterprises and create employment opportunities for others, a National Entrepreneurship Awards Scheme (NEAS) has been instituted in 2016. Under the scheme, awards are conferred to aspiring first generation entrepreneurs including women and those individuals/ organizations who are working as eco-system builder in the field of entrepreneurship development. The awards also seek to highlight model of excellence for others to emulate and improve upon.

Besides,  Ministry of Skill Development and Entrepreneurship (MSDE) in collaboration with the Deutsche Gesellschaftfür Internationale Zusammenarbeit (GIZ) GmbH (Germany) has launched a pilot project called ‘Economic Empowerment of Women Entrepreneurs and Start-ups by Women’ to support aspiring and existing women entrepreneurs in India. Presently, this pilot project is being implemented in the North Eastern Region (Assam, Meghalaya and Manipur), Rajasthan and Telangana where 147 women have been given incubation and acceleration support as part of its first cohorts.

In addition, the Government is providing financial assistance in form of loan to entrepreneurs under various schemes viz Micro Units Development and Refinance Agency or MUDRA and Stand Up India Scheme implemented by Department of Financial Services (Ministry of Finance), Start-up Village Entrepreneurship Programme implemented through Ministry of Rural Development and Rashtriya Mahila Kosh(exclusively for women) implemented through Ministry of Women and Child Development.



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