The Stand Up India Scheme was launched on April 5, 2016, to help finance the dreams of aspiring entrepreneurs, especially women, Scheduled Castes (SC), and Scheduled Tribes (ST) members. It has now been revealed that Rs 30,160 crore loans have been sanctioned to over 1,33,995 accounts since.
Union Finance and Corporate Affairs Minister Nirmala Sitharaman said,
“It is heartening to see that more than 1.33 lakh new job-creators and entrepreneurs have so far been facilitated under this Scheme.”
Sitharaman also mentioned that this scheme had promoted over a hundred thousand female-run businesses since inception, and that this growth will not just empower the entrepreneurs but will also lead to increase job opportunities across the country.
Union Finance Minister Nirmala Sitharaman (Image: Facebook)
She said, "More than one 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."
The Stand Up India Scheme is designed to help eligible candidates build a first time venture in manufacturing, services or the trading sector and activities allied to agriculture.
Edited by Megha Reddy