New Delhi, July 5 (KNN) As many as 100 new clusters to be set up in 2019-20 under Scheme of Fund for Regeneration of Traditional Industries (SFURTI), said Nirmala Sitharaman, Union Finance Minister in her maiden Budget Speech.

While making announcements for different sectors in the budget, Sitharaman said “100 new clusters to be set up in 2019-20 under SFRUTI which will enable 50,000 artisans to join the economic value chain.”

SFURTI is a scheme of Fund for Regeneration of Traditional Industries. Ministry of MSME has launched this scheme in the year 2005 with the view to promote Cluster development.

KVIC is the nodal Agency for promotion of Cluster development for Khadi as well as for V.I. products.

Besides this, she announced that 80 Livelihood business incubators and 20 technology business incubators to be set up in 2019-20 under ASPIRE to develop 75,000 skilled entrepreneurs in agro-rural industries.

ASPIRE was launched to set up a network of technology centres and to set up incubation centres to accelerate entrepreneurship and also to promote startups for innovation in agro industry.