Kerala Budget 2015-16 promotes entrepreneurship
Updated: Mar 14, 2015 05:19:35pm
Trivandrum, Mar 14 (KNN) The Kerala Budget 2015-16 presented by the Kerala Finance Minister, K.M.Mani is tipped to encourage and promote entrepreneurship in the state. The minister’s has brought over a couple of initiatives that will create a viable environment for young and budding entrepreneurs especially women and students.
"’I had supported the efforts taken by the Government for encouraging start-ups in the State. I am happy to announce an Performance Linked Support Scheme for Start-ups"’ the minister announced during his budget speech in Trivandrum on 13th March 2015.
The scheme intends to support 1000 start-ups with performance incentive of Rs 10,000 per start-up per month for the first two years for which 12 crores have been set aside for this year.
In addition another Rs. 40 crore have been allocated for the Entrepreneurship Support Scheme which provide extensive support to micro, small and medium enterprises. An amount of Rs.6 crore has been provided as seed fund to assist young entrepreneurs.
The state government has opened a world of opportunities for the students as well through its proposal to allocate Rs 11 crore for setting up Incubation Support Centres in universities.
In a bid to encourage women entrepreneurs, Rs 10 crores have been allocated for a new interest subvention scheme that will bear the entire interest on loans up to a limit of 5 lakhs/annum for three years. The scheme applies to units employing not less than 50% women employees.
I intend to set up a fund to provide up to 10% participation in self-employment initiatives of our youth. This participation will be 20% in the case of self-employment initiatives set up by women, the minister said.
Mani proudly announced that under the Kerala State Entrepreneurship Development Scheme that was launched his budget two years ago, 1300 entrepreneurs have been assisted through the Kerala Financial Corporation. He further raised the financial limit of loan offered to technocrats from Rs. 10 to Rs. 15 lakh and for others from Rs.4 lakh to Rs. 7 lakh.
An amount of Rs.582.20 crore is provided in this budget for the Industries Sector under the Annual Plan. (KNN/VV)
"’I had supported the efforts taken by the Government for encouraging start-ups in the State. I am happy to announce an Performance Linked Support Scheme for Start-ups"’ the minister announced during his budget speech in Trivandrum on 13th March 2015.
The scheme intends to support 1000 start-ups with performance incentive of Rs 10,000 per start-up per month for the first two years for which 12 crores have been set aside for this year.
In addition another Rs. 40 crore have been allocated for the Entrepreneurship Support Scheme which provide extensive support to micro, small and medium enterprises. An amount of Rs.6 crore has been provided as seed fund to assist young entrepreneurs.
The state government has opened a world of opportunities for the students as well through its proposal to allocate Rs 11 crore for setting up Incubation Support Centres in universities.
In a bid to encourage women entrepreneurs, Rs 10 crores have been allocated for a new interest subvention scheme that will bear the entire interest on loans up to a limit of 5 lakhs/annum for three years. The scheme applies to units employing not less than 50% women employees.
I intend to set up a fund to provide up to 10% participation in self-employment initiatives of our youth. This participation will be 20% in the case of self-employment initiatives set up by women, the minister said.
Mani proudly announced that under the Kerala State Entrepreneurship Development Scheme that was launched his budget two years ago, 1300 entrepreneurs have been assisted through the Kerala Financial Corporation. He further raised the financial limit of loan offered to technocrats from Rs. 10 to Rs. 15 lakh and for others from Rs.4 lakh to Rs. 7 lakh.
An amount of Rs.582.20 crore is provided in this budget for the Industries Sector under the Annual Plan. (KNN/VV)
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