1. Budget 2016: Rs 500 cr to help SC/ST do better business

Budget 2016: Rs 500 cr to help SC/ST do better business

Budget 2016: The scheme will facilitate at least two such projects per bank branch, one for each category of entrepreneur and will benefit 2.5 lakh people

By: | Published: March 1, 2016 2:15 AM

Budget 2016: The government on Monday said it had provided Rs 500 crore to boost the efforts of scheduled caste and scheduled tribe entrepreneurs in starting and running successful business enterprises.

The government is already committed to promoting entrepreneurship and the Cabinet has approved the “Stand Up India Scheme” to promote entrepreneurship among SC/ST community and women.

The scheme will facilitate at least two such projects per bank branch, one for each category of entrepreneur and will benefit at least 2.5 lakh entrepreneurs. A National Scheduled Caste and Scheduled Tribe Hub in the MSME ministry will be constituted in partnership with industry associations.

This hub will provide professional support to SC and ST entrepreneurs to fulfil the obligations under the government’s procurement policy 2012, adopt global best practices and leverage the Stand Up India initiative.

The government also said that 300 Rurban Clusters will be developed under the Shyama Prasad Mukherjee Rurban Mission. These clusters will incubate growth centres in rural areas by providing infrastructure amenities and market access for the farmers. They will also expand employment opportunities for the youth.

In a move to transform villages and small towns, Rs 2.87 lakh crore will be given to Gram Panchayats and municipalities. This is a quantum jump of 228% compared to the previous five year period.

The funds now allocated, translate to an average assistance of over Rs 80 lakh per Gram Panchayat and over Rs 21 crore per Urban Local Body. An allocation of

Rs 9,000 crore has been provided for Swachh Bharat Abhiyan. The government has introduced ranking of urban areas in sanitation, which has resulted in constructive competition among towns and cities.

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