Modi launches 'Stand up India', says will turn job seekers into job creators

Under the scheme SC/ST and women entrepreneur will be provided loans between Rs 10 lakh to Rs 1 crore.

Noida

: Prime Minister Narendra Modi on Tuesday launched the 'Stand up India' initiative in Noida, which aims to promote entrepreneurship among women, SC & ST communities.

"Dalits & poor people if given an opportunity can bring in various reforms in the country. That's my vision for Stand up India," said Modi while launching the scheme. "We intend to turn job seekers into job creators," he added.

This scheme is going to transform the lives of people from Dalit and Tribal communities: PM @narendramodi #TransformingIndia

— PMO India (@PMOIndia) April 5, 2016

Under the scheme SC/ST and women entrepreneurs will be provided loans between Rs 10 lakh to Rs 1 crore. It is expected to benefit large number of such entrepreneurs, as is intended to facilitate at least two such projects per bank branch on an average one for each category of entrepreneur.

Modi distributed 5100 e-rickshaws under the scheme and 151 women were among those would received the vehicles.

Prime Minister Narendra Modi rides in an E rickshaw during distribution of E rickshaws launched under Stand up India Scheme. (Photo: PTI)

"E-rickshaws will be given to those who do not own rickshaws. Beneficiaries of this will be the poor," said Modi.

He said the government would give loans to aspiring businessmen which in turn will create jobs for the youth.

The overall intent of the proposal is to leverage the institutional credit structure to reach out to these underserved sectors of the population by facilitating bank loans in the non-farm sector set up by such SC, ST and women borrowers. The initiative will also develop synergies with ongoing schemes of other departments.