Revamping Stand-Up India: Empowering New Horizons for Entrepreneurs
The government plans to relaunch a modified Stand-Up India scheme to provide enhanced support to SC/ST and women entrepreneurs. Finance Minister Nirmala Sitharaman stated that the new scheme will incorporate lessons learned, offering continued financial assistance for setting up innovative new enterprises, building on the original scheme's achievements.
- Country:
- India
The government is set to unveil a revamped Stand-Up India scheme, aiming to bolster benefits for SC/ST and women entrepreneurs pursuing new projects, as announced by Finance Minister Nirmala Sitharaman.
Since its inception in 2016, the Stand-Up India scheme has been instrumental in empowering Scheduled Castes, Scheduled Tribes, and women by facilitating bank loans for new enterprises. However, with the scheme's expiration on March 31, 2025, modifications are underway to enhance its impact.
The modified scheme will integrate insights from studies by Niti Aayog, with a forthcoming proposal to the Cabinet. The original scheme offered loans between Rs 10 lakh and Rs 1 crore, and discussions are ongoing to possibly increase this amount in the new iteration.
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