Stating that the ‘Stand Up India’ initiative aims to empower the deprived sections of society, Prime Minister Narendra Modi speaking in Noida, Uttar Pradesh on Tuesday said, “This is a way of generating huge employment opportunities in the country.”
PM Modi inaugurated the ‘Stand Up India’ initiative which is aimed at creating jobs and promoting entrepreneurs among Scheduled Castes/Scheduled Tribes (SC/ST) and women by extending loans at cheaper rates. The Cabinet had in January approved ‘Stand up India’ scheme for providing credit to SC/ST and women entrepreneurs at lower rates. Under the scheme, which will be implemented through 1.5 lakh bank branches, banks will give loans at the “least applicable rate” of interest.
At the inauguration, PM Modi said, “Stand up India aims to empower every Indian and enable them to stand on their own feet. Today’s job seekers will be job creators of tomorrow.”
Modi went on to say, “Those who are at the bottom of the economic pyramid should be given every chance to rise. We should make all possible efforts to encourage entrepreneurship in these sections. If this country has to progress, then work has to start even in the smallest of all places,” Modi emphasised.
Modi added, “I had announced this plan of ‘Startup India, Standup India’ on August 15…. Now, even the most deprived sections of the society are getting opportunities to come forward.”
(This story was originally published on April 5, 2016)