Stand-Up India Scheme: More than Rs 40,700 cr sanctioned in last 7 years

In the previous seven years, the Center has approved more than 40,700 crore to over 1,80,630 beneficiaries under the Stand-Up India Scheme to encourage entrepreneurship at the grassroots level. The Stand up India Scheme, which was introduced on April 5, 2016, has been extended till 2025 with an emphasis on economic empowerment and employment development.

Stand-Up India was established to encourage entrepreneurship among women, Scheduled Castes (SC) & Scheduled Tribes (ST) categories, and to assist them in starting a greenfield enterprise in manufacturing, services or the trading sector, as well as activities related to agriculture, in recognition of the difficulties that prospective SC, ST and women entrepreneurs may encounter in turning their dream into reality.

It is a source of pleasure and joy for me to observe that more than 1.8 lakh women and SC/ST businesses have received loans totaling more than Rs. 40,600 crore, said Finance Minister Nirmala Sitharaman at the event. By accessing loans from bank branches of all Scheduled Commercial Banks, the initiative has built an ecosystem that supports and continues to provide a supportive atmosphere for starting up green field firms, she claimed.

According to Sitharaman, the Stand-up India Program has changed many people's lives by providing the underserved/unserved section of entrepreneurs with easy access to inexpensive finance. The programme has given ambitious business owners a platform on which to demonstrate their entrepreneurial prowess. According to her, entrepreneurs have enormous potential to spur economic growth and create a healthy ecosystem through creating jobs.

The online resource standupmitra.in, created by the Small Industries Development Bank of India (SIDBI) for the Stand Up India Plan, not only connects potential borrowers to banks for loans but also offers advice to aspiring entrepreneurs as they work to establish small operations, it said.
This portal provides step-by-step guidance for connecting potential borrowers to various agencies with specific expertise, such as Skilling Centres, Mentorship support, Entrepreneurship Development Program Centers, District Industries Center, along with addresses and contact information, it added. This is made possible through a network of more than 8,000 Hand Holding Agencies.