Outlook Money
If you want to start a new business, the government offers various schemes to help you with funding and support. These schemes provide financial assistance, subsidies, and resources to foster entrepreneurship.
This scheme, fully sponsored by the Central government, provides loans of up to Rs 10 lakh for those planning to start a business. It is available to all entrepreneurs, including those from general and reserved categories.
This scheme provides loans ranging from Rs 10 lakh to Rs 1 crore to Scheduled Castes (SC), Scheduled Tribes (ST), and women entrepreneurs for setting up new enterprises in select sectors. The loan can be used for capital investment or working capital needs.
The Credit Guarantee Fund Scheme for Micro and Small Enterprises (CGTMSE) allows collateral-free loans to the micro and small enterprise sector, up to Rs 2 crore. The Centre provides a guarantee on loan repayment under CGTMSE for up to 75% to 80% of the sanctioned amount.
Launched by the government in 2016, this scheme aims to foster innovation by lending up to Rs 10 crore to Atal Incubation Centres. These centres support emerging organisations in sectors such as health, agriculture, education, and transportation.
The Department of Animal Husbandry, Fisheries, and Dairying has launched the Dairy Entrepreneurship Development Scheme to support dairy entrepreneurship and create self-employment in the rural sector. The scheme covers activities such as milk production, procurement, preservation, and marketing.
Compiled By Manas Malhotra