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As we celebrate the sixth anniversary of the Stand Up India Scheme, let us take a look at how this scheme has fulfilled the aspirations of entrepreneurs, particularly women and Scheduled Castes (SCs), Scheduled Tribes (STs) and also sift through the achievements, salient features and enhancement to the scheme over the years.

Recognizing the challenges faced by Aspiring SC, ST and women entrepreneurs, the Stand Up India Scheme was launched on 5th April 2016 to promote entrepreneurship at the grassroots level focusing on economic empowerment and job creation. In 2019-20, the Stand Up India scheme was extended for the entire period coinciding with the 15th Finance Commission period of 2020-25.

On the occasion, Union Finance & Corporate Affairs Minister Nirmala Sitharaman said, “As we commemorate the sixth anniversary of the Stand-Up India Scheme, it is heartening to see that more than 1.33 lakh new job-creators and entrepreneurs have so far been facilitated under this Scheme.”

The Minister further said, “More than 1 lakh women promoters have benefitted from this Scheme during its six years of operation. The Government understands the potential these rising entrepreneurs have in driving economic growth through their roles as not just wealth-creators but also job-creators.”

“As more and more beneficiaries from the underserved segments of entrepreneurs are targeted for coverage, we would make significant strides towards building an Atmanirbhar Bharat,” she added.

As India is growing rapidly, hopes, aspirations and expectations of a large group of potential entrepreneurs, particularly women and SCs, STs, are rising. They want to set up an enterprise of their own to allow themselves to thrive and grow. Such entrepreneurs are spread across the country and are bubbling with ideas on what they can do for themselves and their families. The scheme envisages facilitating the dreams of aspiring SC, ST and women entrepreneurs to reality by supporting their energy and enthusiasm and removing many hurdles from their path.

As we celebrate the sixth anniversary of the Stand Up India Scheme, let us take a look at the features and achievements of this Scheme.

The objective of Stand-Up India is to promote entrepreneurship amongst women, SC & ST categories, to help them in starting a greenfield enterprise in manufacturing, services or the trading sector and activities allied to agriculture.

The purpose of Stand-Up India is to:

• Promote entrepreneurship amongst women, SC & ST category;
• Provide loans for greenfield enterprises in manufacturing, services or the trading sector and activities allied to agriculture;
• Facilitate bank loans between Rs 10 lakh and Rs 1 crore to at least one SC/ ST borrower and at least one woman borrower per bank branch of Scheduled Commercial Banks.

(With inputs from PIB)

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