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Financial food for thought
Energy efficiency and consumption of renewable energy resources have been encouraged throughout the MSME industry. The Government of India, with the objective of incentivizing such MSMEs that promote sustainable energy development, has introduced the Sustainable Finance Scheme (SFS). This scheme is aimed at providing financial aid to such MSMEs that support Environment and Climate Friendly energy consumption and production processes.
The SMILE initiative from SIDBI was introduced to give a boost to the ‘Make in India’ campaign. This scheme provides soft term loans to MSME enterprises to meet the debt-equity ratio for their establishment.
This flagship programme from the Department of Scientific & Industrial Research under the aegis of Ministry of Science & Technology was instituted with the goal to support individual innovators who will be able to achieve an inclusive growth agenda.
Indian Renewable Energy Department Agency Ltd. (IREDA) has initiated a refinance initiative with support from the National Clean Energy Fund (NCEF). This scheme aims at providing low cost refinancing to scheduled commercial banks and financial institutions who are in the business of financing existing biomass power & small hydro power projects.
The father of our nation, Mahatma Gandhi, believed that national wealth would be created only by developing and promoting small-scale industries. True to his economic beliefs, the Micro, Small and Medium Enterprises (MSME) sector plays a huge role in offering employment to millions of people and contributing to the GDP of the nation.
India is a nation of small businesses. From small neighbourhood Kirana stores to cottage industries and other local businesses – small enterprises play a crucial role in the Indian economy. According to reports by the Ministry of Micro, Small and Medium Enterprises, small businesses contribute to 30% of the overall GDP of the nation and employ more than 100 million people.
MSMEs (micro, small and medium enterprises) are the backbone of the domestic economy and play a crucial role in employing a large sector of the population. Despite their contribution to the nation’s growth, MSMEs have a hard time raising business capital.
Kisan Vikas Patra (KVP) is a post office saving certificate scheme which was launched in 1988. This saving plan does not have maximum ceiling of investment which makes it a lucrative option for risk-free investors.
The Employees’ Provident Fund (EPF) is a savings scheme introduced under the Employees’ Provident Fund and Miscellaneous Act, 1952. It is administered and managed by the Central Board of Trustees that consists of representatives from three parties, namely, the government, the employers and the employees. The Employees’ Provident Fund Organization (EPFO) assists this board in its activities. EPFO works under the direct jurisdiction of the government and is managed through the Ministry of Labour and Employment.
The start-up scene in the Indian Economy has seen a lot of activity over the past few years. It is estimated that India is home to about 39000 start-ups and the number is definitely growing by the day. The government has taken cognizance of the fact and has come up with various programs and loans to encourage entrepreneurship. As the start-ups are spread over a number of areas and sectors, the government has also come with many sector-specific and generalized loans.
Pradhan Mantri Jan Dhan Yojana is a scheme that was launched by the Government of India to ensure the financial inclusion of all the Indian citizens who do not have a bank account in India. It was a nationwide scheme that was launched in August 2014. This particular scheme aims to provide access to financial services such as banking, saving accounts, deposits, credit, insurance and pensions in an accessible manner to all Indian citizens.
The Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) was formerly known as the National Rural Employment Guarantee Act. This Act was notified on the 7th of September, 2005.
Entrepreneurism is certainly on the rise in our country at the moment. Various government incentives and the conducive start-up environment is only making it easier. It is not only men, but women are also joining the start-up and small business bandwagon. To help them through this initiative, various schemes are announced by the Government, banking and other financial institutions.
World Intellectual Property Organisation (WIPO) recently published that India is ranked as 57th most innovative country in the world. Initiatives such as ‘Make in India’ by the Government of India has spurred the growth of business across 25 sectors.
The Pradhan Mantri Suraksha Bima Yojana and the Pradhan Mantri Jeevan Jyoti Bima Yojana are insurance schemes launched by the Indian government to ensure that even the poorer sections of our society have some kind of insurance in the face of adverse accidents to help them through financial adversities.
Government Loan Scheme for Unemployed YouthGetting a loan is usually a tedious process, even for salaried individuals. Several factors are taken into consideration: like your credit score, company history, past pay slips while appraising a loan application.If this is the case for salaried individuals, what do you do when you are unemployed and need a loan to start your venture? You might be in between jobs, or been out of a job recently and planning to start your own vent
Government Loans for Small Business Startup in IndiaIndia continues to be a nation that promotes ideas and the entrepreneurial spirit, in a 2016 report by NASSCOM India retained the title of the world's third largest startup base; this is a testimony to the facts that ideas and ideators can thrive in the Indian startup ecosystem and come up with socially relevant and technologically robust solutions for our country, this in a time when the startup scene across the world is not i
Government Loans for Small BusinessesAre you searching for government schemes to help finance your small-scale business in India? The main hurdle for any entrepreneur or for expanding an existing venture is the financing part. Though the small and medium enterprises make the backbone of Indian economy, most of the SME owners face a lot of problem due to the non-availability of credit. Additionally, a lot of lenders ask for collateral security which not many first-time SME owners
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