Question : What is the objective of the Stand Up India scheme?
Option 1: Promote entrepreneurship among women and SC/ST entrepreneurs
Option 2: Support the growth of startups in the technology sector
Option 3: Encourage foreign direct investment in India
Option 4: Provide employment opportunities to rural youth
Correct Answer:
Promote entrepreneurship among women and SC/ST entrepreneurs
Solution : The correct answer is (a) Promote entrepreneurship among women and SC/ST entrepreneurs.
The objective of the Stand Up India scheme is to promote and support entrepreneurship among women and entrepreneurs from Scheduled Castes (SC) and Scheduled Tribes (ST) in India. The scheme aims to provide financial assistance, facilitate access to credit, and offer handholding support to help these underrepresented sections of society start and grow their own enterprises.
The Stand Up India scheme was launched by the Government of India in April 2016 as part of its broader efforts to promote inclusive growth and create opportunities for marginalized communities. It encourages banks to provide loans ranging from Rs. 10 lakh to Rs. 1 crore for setting up greenfield enterprises in manufacturing, services, or trading sectors. The scheme also promotes knowledge and skill development, capacity building, and mentorship to empower women and SC/ST entrepreneurs.
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