Stand Up India Empowers Entrepreneurs: ₹40,710 Crore Sanctioned to SC/ST and Women by 2025

The Stand Up India Scheme, initiated in 2016, has been a revolutionary scheme for SC/ST and women entrepreneurs. Extended up to 2025, the scheme has provided loans amounting to ₹40,710 crore to more than 1.8 lakh accounts, empowering entrepreneurs to set up greenfield ventures in manufacturing, services, trading, and agriculture-allied industries.

 

Key Highlights:

 

1.Loan Size: ₹10 lakh to ₹1 crore to deserving entrepreneurs.

 

2.Eligibility: SC/ST or women entrepreneurs above the age of 18 years; loans only to first-time businesses (greenfield ventures).

 

3.Achievements: More than 80% of loans have been given to women entrepreneurs.

 

4.Support System: Has hand-holding through the Stand Up India portal (www.standupmitra.in), credit guarantees, and lower margin money requirements.

 

Union Finance Minister Nirmala Sitharaman praised the scheme's contribution to financial inclusion and employment generation. By facilitating easy access to credit, Stand Up India is still empowering the underprivileged communities and building up India's entrepreneurial ecosystem.

 

Sources: PIB, Drishti IAS