The Government of India is planning to introduce a revamped version of the Stand-Up India Scheme to extend greater benefits to entrepreneurs belonging to Scheduled Castes (SC), Scheduled Tribes (ST), and women across the country.
Announcement in Parliament
- Union Finance Minister Nirmala Sitharaman made the announcement while replying to supplementary questions during the Question Hour in the Lok Sabha.
- She stated that the original Stand-Up India Scheme, which was launched in April 2016, had completed its term in March last year. After the scheme ended, it was reviewed by NITI Aayog and other government departments.
- Based on the findings of this review, the scheme is now being redrafted to improve its effectiveness and provide enhanced support to beneficiaries.
Objective of the Scheme
The Stand-Up India Scheme was originally introduced to promote entrepreneurship among SC, ST, and women by facilitating access to institutional credit.
Under the scheme:
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Scheduled commercial banks were encouraged to provide bank loans ranging from ₹10 lakh to ₹1 crore.
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Each bank branch was expected to extend loans to at least one SC/ST borrower and one woman entrepreneur.
The initiative aimed to encourage greenfield enterprises in sectors such as manufacturing, services, trading, and agriculture-related activities.
Expected Impact
The revamped version of the scheme is expected to strengthen financial inclusion, encourage entrepreneurship, and generate employment opportunities, particularly among historically disadvantaged communities and women entrepreneurs across India.