NEW DELHI: The Central government has sanctioned more than Rs 40,700 crore to over 1,80,630 accounts under the Stand-Up India Scheme in the last 7 years.
"Stand-Up India scheme is a major landmark in promoting entrepreneurship among SC, ST and women," Finance Minister Nirmala Sitharaman said on the occasion of the scheme completing 7 years on Wednesday, April 5, 2023.
On April 5, 2016, the Stand-Up India Scheme was introduced to promote entrepreneurship at the community level with an emphasis on economic empowerment and employment development.
This scheme has been extended up to the year 2025.
The scheme was launched to address the issues faced by the Schedule Caste, Schedule Tribe and women entrepreneurs while setting up businesses or greenfield enterprises in manufacturing, services, or the trading sector and activities connectedwith agriculture.
"The programme has established an ecosystem that permits and continues to provide a favourable environment for establishing green field firms through access to loans from bank branches of all scheduled commercial banks", the finance minister said.
G-20 Trade Investment Working Group 3-day meet begins today in Mumbai