The drive to take India’s economy to the $5 trillion marks has necessitated the implementation of several Government-backed schemes.
These policies aim to create sustainable employment amongst India’s youth, specifically concentrating on the economically weaker section of the community and rural areas. From Udyogini scheme to PMEGP, the Government of India aims to create an environment where the artisans across the nation benefit from adequate funding, training, availability of raw material and equipment, as well as better market exposure for their goods. These schemes are designed to assist the traditional industries, allowing them to match the present market demand without sacrificing quality. Prime Minister’s Employment Generation Programme, Scheme of Fund for Regeneration of Traditional Industries, Scheme for Promotion of Innovation, Rural Industry and Entrepreneurship, Credit Guarantee Scheme for Micro and Small Enterprises, are only some of the Government launched schemes to help boost the nation’s economy. A number of these provide advances in the form of a business loan at a subsidised (or against credit guarantee) rate, while some concentrate on providing adequate training and infrastructure to help organisations reach their target capacity.
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AuthorAman Khanna is an experienced financial advisor who is well known for his ability to foretell the market trends as well as for his financial astuteness. He has an MBA in finance from Toronto University as well as years of experience delivering seminars on sound financial practices and debt management. |