MSME Ministry approves 31 Livelihood Business Incubators in FY21 to promote rural entrepreneurship

New Delhi, Mar 31 (KNN) In financial year 2020-21, the Ministry of MSME has sanctioned a total number of 31 Livelihood Business Incubators (LBIs) to promote rural entrepreneurship.

The approval was made under ‘A Scheme for Promotion of Innovation, Rural Industries and Entrepreneurship’ (ASPIRE), informed Minister of State for MSME, Bhanu Pratap Singh Verma in a written reply to the Lok Sabha on Thursday.

Out of the 13 LBIs approved, four became functional during FY20-21.

In the state of Odisha a total number of three LBIs were sanctioned in under, however no LBI became functional in Odisha during the same period.

Up till now 61 LBIs have become functional in the country including Odisha and 54,801 persons have been trained in LBIs across the country, out of which 15169 trainees became self-employed and 8928 trainees got employed in other units, said the Minister.

A third party assessment study of the scheme was conducted by IIM Lucknow in the same year to assess the operation of the scheme incorporating the inputs from the stakeholders.

ASPIRE is a scheme to provide training and incubation support to prospective entrepreneurs in agro-rural sector through LBIs, with no specific provision to extend benefits directly to local artisans. (KNN Bureau)