Business News: Good news for those starting a new business, now the government will help in every way..
After completing studies, every youth has only one desire that he should get a job with a good salary. However, if we look at the last few years, then the youth have preferred their startup (business) instead of a job as a career. This is the reason why the country has come a long way in terms of startups and has started being called a 'startup hub'. At the same time, many such schemes are also being run by the central government, which provides training to financial assistance for startups. Let us know about some such schemes.
Dairy Entrepreneurship Development Scheme
The central government has started this scheme to promote self-employment in the dairy sector. This scheme being run by the Animal Husbandry, Fisheries and Dairy Department includes everything from milk production to processing and marketing. General category candidates applying under the scheme are provided 25 percent of the total cost of their project and the SC/ST category as well as farmers are provided a 33.33 percent back-end amount.
Credit Guarantee Fund Trust
This scheme aims to simplify the loan system for small industries. The Ministry of MSME and the Small Industries Development Bank of India have jointly launched the Credit Guarantee Fund Trust to facilitate the process of taking a loan (Bank Loan). Under this scheme, the central government provides loans to small industries and micro-level industries at very concessional rates and without any collateral.
Single Point Registration Scheme
Small industries have always been the first choice of youth as a startup (How to start a business). That is why a single-point registration scheme has been started to provide support to MSEs to promote procurement in the small-scale sector. This scheme run by the National Small Industries Corporation includes tenders without any fee, participation in tenders, and procurement from MSEs. The central government has also fixed a minimum of 25 percent of the total annual procurement from MSEs under this scheme.
Multiplier Grants Scheme
The aim of this scheme of the central government (New scheme launched) is to promote collaborative research and development among industries. Under this scheme run by the Department of Electronics and Information Technology, a maximum amount of Rs 2 crore is given per project with a period of less than two years. This scheme has been brought to strengthen the industries and promote the development of indigenous products.
High Risk and High Reward Research Scheme
Under this scheme, the central government gives preference to those ideas of the youth (Business Ideas), which can have a profound impact on science and technology, and which have risks associated with them. The government thinks that if such startups are successful, then they can prove to be very beneficial in the field of science. However, there is no fixed budget for the projects under the scheme. The government assists these startups for a period of three years but it can also be extended to five years.
