Three Government Schemes That May Be Useful to Entrepreneurs
Making grandiose announcements about new schemes is a political necessity - nearly every government makes them. Considering why some ideas fail can help you make your own scheme more successful - they must be socially acceptable, technically feasible, financially viable, and administratively doable. Various comparisons can illustrate these points. Let's look at the Pradhan Mantri Vaya Vandana Yojana, Saksham Yojana, and Antyodaya Anna scheme, three government schemes that may be useful to entrepreneurs.
Pradhan Mantri Vaya Vandana Yojana
The government has recently introduced a new pension scheme, the Pradhan Mantri Vaya Vandala Yojana, which aims to provide social security and financial security to senior citizens. This scheme allows people to invest in a pension fund with an assured monthly return of 8.30%, which is more than enough to provide a comfortable retirement. The scheme is run by the Life Insurance Corporation of India, which has the sole rights to market it. As of June 2017, it has been sold to 58,152 people, generating over Rs. 2,700 crore for the company.
Saksham Yojana
Applicants can get jobs under the Saksham Yojana government scheme by fulfilling some basic eligibility criteria. First, applicants must possess a higher secondary certificate or a degree certificate. They should also possess voter ID and PAN cards. For online applications, applicants must submit attested documents to the concerned authority. After submitting the required documents, the applicant can then check the status of his or her application. The selection process for this scheme will be completed once the applicant has met the eligibility criteria.
Credit Guarantee Scheme for Startups
The Department of Industrial Policy and Promotion (DIPP) has recently introduced a new Credit Guarantee Scheme for Startups. This scheme will provide portfolio-based credit guarantees to startups. Portfolios should contain at least 10 startup loans. Startups are eligible to receive up to Rs. 5 crore in credit guarantees under the scheme. The scheme will also offer other support to startup companies. It is expected to help thousands of new businesses get off the ground.
Antyodaya Anna Yojana
The Government of India's sponsored Antyodaya Anna Yojana program provides highly subsidised food to millions of people living in poverty. This program was created by then-Union Food and Civil Supplies Minister N Sri Vishnu. Since then, the Antyodaya Anna Yojana has helped millions of people get the daily nutrition they need. But the program is only effective if it reaches the most vulnerable groups.
National Apprenticeship Promotion Scheme
The Ministry of Labour has set an ambitious target to train 50 lakh young people through the National Apprenticeship Promotion Scheme (NAPS). However, implementation of this scheme has not been a success. The Ministry of Labour has cited compliance costs as the main reason for poor performance. sarkari yojana on Labour has criticized the scheme's implementation. The committee has recommended that the Ministry provide more details on its financial allocations and actual expenditures.