Start Up India Scheme and Stand Up India Scheme

Start Up India Scheme and Stand Up India Scheme

Our Prime Minister had launched the Start Up India scheme for Scheduled Caste and Scheduled Tribes, as well as women, which is basically to increase more business chances in India by giving chance to new businessman at making it big. Under the plan a loan range from Rs 10 lakh to Rs 1 crore will be provide to small businessman (women and Scheduled Caste businessman) so that they can also increase their business.

Start Up India Scheme and Stand Up India Scheme

When did these schemes launched in IndiaJanuary of 2016
Under which Ministry these schemes gets observedMinistry of Commerce and Industry
Key Person behind these schemesMr. Arun Jaitley (Indian Finance Minster)
Motive behind these schemesTo provide finance support for women from poor families and to boost entrepreneurship among youths
Person who launched these schemes to Indian citizensThe Prime Minster of India Mr. Narendra Modi

Target behind the Start up India scheme

  • The target behind this scheme is to enhance the financial condition of small business man and give them chances to increase their business e.g. up gradation of pedal rickshaw pullers into e-rickshaw owners and hence increase in their income.
  • Also customer can buy their products on Ola mobile app and make online payment via free charge. And take benefit of the e services
  • Start Up India scheme for Scheduled Caste and Scheduled Tribes, as well as women, would connect with the Dalit Indian cavity of Commerce and Industry and different institutions.

Stand Up India Scheme

Stand up India is in the middle of the different financial inclusion and social safety schemes set up by the current Indian government. The stand up basically means to stand up the underprivileged or underserved category of the country. The plan is predictable to advantage large number of such businessman, as it is intended to make easy. Government provides a grant of Rs 10,000 to start this scheme.

Scheduled Caste and Scheduled Tribes and women entrepreneurs are mostly avoided in our country and they have been fewer chances to do business. To give them chance this scheme is for them. Under this plan RuPay Debit Card is given to the qualified person for this scheme. This card can be used to withdraw. Also they get complete support like pre loan training, assist loan, factoring and marketing are provided under this scheme.

Also government stated a new website which is used for the promotion of scheme and for online registration and support services and also prepares a credit history of borrowers.

Under this scheme the candidate will also take benefit of Pradhan Matri Jan Dhan Yojna, Pradhan Mantri Suraksha Yojana, Pradhan Mantri Jivan Jyoti Yojana, Atal Pension Yojana and many other important schemes.

Ways the Stand Up India plan Could be advantageous and hopeful for Women and SC/ST Business person

Loans for Women Entrepreneurs

In India, women have very less chances to boost up their business as Women entrepreneurs in India find it difficult to get funding for their startups. They are supported financially from their families so women who want to start their work have fewer chances. Same condition is with Scheduled Caste and Scheduled Tribes. That is reason that these category never raise in India. Stand up scheme is basically to give chances to them so that they can also prove them. But condition will change once the Stand up India scheme comes into action as Stand Up India scheme provide funding for Women entrepreneurs.

Refinancing Options

This scheme is not only for the person’s who want to set up their business but The entrepreneurs who had already started their business and scheme still fall under the startup category can also take benefit of this scheme. Small Industries Development Bank of India (SIDBI)invest Rs 10,000 crore in this scheme also National Credit Guarantee Trustee Company invest Rs 5000 crore in this scheme.

Support and Knowledge

In India half of women do not aware about business and don’t know how to start their work. Even the educated women are not aware about the business. On the other hand supplies under the scheme also comprise hold up for both women and SC/ST borrowers, all the way from pre loan stage to operating stage. Besides familiarizing them with bank guidelines and terminology, they will also be familiar with regarding registering online and how to use e-markets, and commercial practices. To bring together all the information related to the scheme, the government will be setting up a website for Stand up India.

Startup India Standup India Action Plan

Prime Minister announced schemes start up ecosystem in India. 

In order to develop the strong innovative thoughts among the talented youths of the nation and to build the perfect ecosystem on considering the innovations, creations and manufacturing within nation, the central government of India launched the Startup India scheme. Under this startup India, government plans to provide efficient financial support for the creative youths of the nation to start their own businesses. The Government, through this initiative aims to empower Startups to grow through innovation and design. In addition to that, by involving creative youths to start their own businesses government can able to tackle the major problem of unemployment in the nation pretty well.

Startup India is basically for the youth and large number of job will come in market for the youth and they can take benefit of these. This count will also increase soon. Also youth who want to start their business and have not money for that and don’t want to put their saving in business can take benefit of startup India scheme. Government will provides funds to start business under this scheme

People who are applicable to take benefit of this scheme:

People who want to start up their business and have not fund for that. Also a qualified candidate must be educated and 18 + years in age. Candidate must be citizen of India. Person who wants to start their business ad want to take benefit of this scheme must have some business ideas.

No doubt once these startup and standup scheme will totally implement in India then the poor people, women and youth will get new chances to grow them. They will become the pillar of the country and give new direction to the country.

So it is our duty to make aware about these schemes to more and more needed person so that they can take benefit of these schemes.

Conclusion

Current NDA government has taken so many vigorous steps to improve the living standards of Indian citizens particularly from the rural parts of the India and from the poor families. The launch of Startup and Standup schemes would ensure the empowerment of the low class people and also the young talented youths to improve their lifestyle by their own. Government offers necessary finance support to such wiling peoples across the nation.

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