Last Updated : 2020-06-18 15:45:58
India is growing and developing as a rustic. Now, with Prime Minister Narendra Modi Startup Initiative, the sector has kick-started. To encourage budding entrepreneurs, the govt. has come up with quite 30 schemes for the startup movement that just about cover all industries, from IT to farming. Here are a number of the schemes you must know about-
Multiplier Grant Scheme- This scheme is for the IT sector- IT services, analysis, enterprise software, technology hardware, and such industries. It is headed by the Department of Electronics and knowledge Technology Deity. The govt grants INR 2 crores for a project that ought to last 2 years. For enterprise consortiums, these figures would be INR 4 Crore and three years.
The working capital Assistance Schemes- Catering to the agricultural industry, this scheme is headed by Small Farmers Agri-Business Consortium SFAC. The minimum quantity of economic assistance will depend upon the project cost, the situation of the startup, and therefore the promoter status.
Ayurvedic Biology Program- Headed by the Science and Engineering Research Board, this scheme caters to industries like Chemical, healthcare, nanotechnology, and social impact. It primarily encourages young scientists and researchers to participate in events of the above sectors with nominal support for pre-operative expenses.
Dairy Entrepreneurship Development Scheme- The full-service bank for Agriculture and Rural Development NABARD is heading this scheme. It aims at providing incentives to sectors like Agriculture, pets and animals, social impact, and food and beverages. They provide incentives that differ from project to project, concerning requirements and establishments of the facilities.
Conclusion- Even though the Startup India Scheme is well recognized, most folks do not know the schemes and facilities related to it. If you are an entrepreneur and need to begin your own business, you will be able to make use of any of those schemes.
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