New Delhi, 5 April (IANS). The Stand-up India scheme has registered a great increase in the last few years, under which the total loan amount sanctioned has increased from Rs 16,085.07 crore on March 31, 2019 to Rs 61,020.41 crore by 17 March 2025. This information was given by the Central Government.
This spectacular growth shows the growing impact of this scheme in empowering entrepreneurs across the country.
During this period, SC accounts increased from 9,399 to 46,248, while the loan amount increased from Rs 1,826.21 crore to Rs 9,747.11 crore.
The ST account increased from 2,841 to 15,228, while the approved loans increased from Rs 574.65 crore to Rs 3,244.07 crore.
The Finance Ministry said, “From 2018 to 2024, the accounts of women entrepreneurs increased from 55,644 to 1,90,844, while the sanctioned amount increased from Rs 12,452.37 crore to Rs 43,984.10 crore.”
The Stand-up India scheme has been a transformational initiative, which empowers SC, ST and women entrepreneurs to convert their commercial ideas into reality.
The ministry said, “The plan continues to promote inclusive development with important achievements in loan acceptance and distribution. The scheme is not only about loan, but it is also about creating opportunities, bringing changes and converting aspirations into achievements.”
The scheme has shown significant financial empowerment for SC, ST communities and women entrepreneurs from March 2018 to March 2024.
Since its debut on 5 April 2016, the Stand-up India scheme has been on a mission to empower SC, ST and women entrepreneurs.
The objective of the scheme is to remove obstacles by providing bank loans to start new businesses.
According to the Finance Ministry, in the last 7 years, the scheme not only provided funds to businesses but also fulfilled the dreams of millions. Along with this, by creating livelihood, it has promoted inclusive development across India.
Each bank branch provides a bank loan facility between at least one Scheduled Castes (SC) or SC (ST) borrower and at least one female borrower between Rs 10 lakh to Rs 1 crore to set up a Greenfield enterprise.
These enterprise may be connected to manufacturing, service, agriculture related activities or business sectors. In addition, at least 51 percent shareholding and control stake should be with SC/ST or female entrepreneur in terms of non-individual enterprises.
-IANS
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