Standup India- Harnessing the power of Enterpreneurship

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Standup India Harnessing the power of
Enterpreneurship
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• Introduction
• Stand Up India is an ambitious initiative by
  the government of India which was launched in
  April 2016 by the Honble Prime Minister Narendra
  Modi, to promote entrepreneurship and capital
  investment among people belonging to the
  Scheduled Castes (SC) and Scheduled Tribes (ST)
  and women. The initiative is aimed at enhancing
  social and economic inclusions from these
  communities. It is also a part of the
  governments Make in India campaign, which
  seeks to promote industrialization, boosting the
  manufacturing sector and modernizing traditional
  products. To promote this initiative, the
  government implemented a number of schemes and
  procedures that are applicable to the people
  belonging to these groups.

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• Objectives of Stand Up India The Stand Up India
  Initiative has been launched with three primary
  objectives
• 1. To promote entrepreneurship among the SC/ST
  community and women.
• 2. To create employment opportunities to those
  belonging to the SC/ST categories and women.
• 3. To provide financial support to these
  entrepreneurs through a number of
  schemes.

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• Procedure for Registration under Stand Up India
• Those interested in being part of the Stand Up
  India Initiative must first register themselves
  on the official website. The registration for the
  scheme requires applicants to submit certain
  documents such as identity and address proof,
  photographs and other relevant information. The
  applicants must also provide the details of their
  existing business, if any. Once the registration
  process is complete and the documents are
  approved, the applicants are awarded a
  registration number. Eligibility Criteria for
  Stand Up India
• The applicants eligible for the Stand Up India
  Initiative should be members of SC and ST
  category and female entrepreneurs. The applicants
  must be between 18-55 years of age and should
  have completed a minimum of 10th grade or its
  equivalent in academic qualifications. They must
  also have a minimum of 5 years of work experience
  in the relevant sector.

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• Schemes under Stand Up India
• There are currently four schemes under the Stand
  Up India Initiative. These are
• 1. Pradhan Mantri Mudra Yojana
• This scheme provides subsidies and loans to Small
  and Medium Enterprises (SMEs) and new start-ups
  in India. The applicants can get loans up to Rs
  10 lakhs at a lower rate of interest.
• 2. Pradhan Mantri MUDRA Card This scheme is
  aimed at providing easy access to loans for
  individuals from the SC, ST and women category.
  The Pradhan Mantri MUDRA Card can be used to
  avail of loans from various banks.
• 3. Pradhan Mantri Jan Dhan Yojana This scheme
  aims to provide banking facilities to individuals
  belonging to the SC, ST and women category. Under
  this scheme, individuals can open a zero-balance
  bank account and get a debit card for easy
  transaction.
• 4. Mahila Udaan This scheme provides financial
  assistance to women entrepreneurs to start a
  business. It provides capital support as well as
  other resources to help women start-ups.
  

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• Tax Benefits under Stand Up India
• The Stand up India Initiative also offers some
  additional tax benefits to encourage SC, ST and
  women entrepreneurs. The applicants are exempt
  from payment of Income Tax on their incomes for
  the first three years of their business. They are
  also eligible for a tax rebate of 33 of the
  total tax payable. Conclusion The Stand Up India
  Initiative is a great way to encourage
  entrepreneurship and capital investment,
  particularly among those belonging to the SC, ST
  and women category. With its various schemes,
  procedures and tax benefits, the initiative seeks
  to provide these individuals with opportunities
  to become successful entrepreneurs.Tags
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