Skill India movement and the Make in India statement
Prime Minister Narendra Modi launched the Stand up India scheme to enable Scheduled Castes, Scheduled Tribes and women entrepreneurs to access loans, setting a target of creating 250.000 such entrepreneurs across the country.
Under the scheme 125.000 bank branches will provide loans up to Rs 1 crore. Each branch will be required to provide two such loans ranging from Rs 10 lakh to Rs 1 crore without collateral for setting up a new enterprise.
The PM said it is not possible for the government to provide jobs to everyone. The scheme will convert "job seekers into job creators," he said. Stand up India, he said, aims to empower every Indian and enable them to stand on their own feet. The recent financial budget presented by the Finance Minister, Arun Jaitley appears to be very promising for young entrepreneurs with the INR 10,000 crore startup fund announced among other things. However, not all 29 states and 7 union territories are at the same level in terms of encouraging entrepreneurship on Indian soil.