Question

Explain any five Government Entrepreneurial schemes.

Answer 1

To support and strengthen the Start-up culture in India, the Government has launched various schemes.

They are as follows:

1. The Modified Special Incentive Package Scheme (M-SIPS):

• The M-SIPS scheme provides a capital subsidy of 20% in SEZ and a 25% subsidy in non-SEZ for business units engaged in the manufacturing of electronic goods.

2. New Gen Innovation and Entrepreneurship Development Centre (New Gen IEDC):

• It provides a limited one-time non-recurring financial assistance to entrepreneurship up to Rs. 25 lakhs in the fields of chemicals, technology, health care, defense, etc.

3. Dairy Entrepreneurship Development Scheme:

• Dairy Entrepreneurship Development Scheme aims at helping entrepreneurs in the fields of agriculture, pets and animals, and dairy farms.

4. Single Point Registration Scheme:

• A great scheme for micro and small enterprises which provides an exemption from payment of Earnest Money Deposit.

5. Atal Incubation Centres (AIC):

• The Government of India has set up the Atal Innovation Mission (AIM) at NITI Aayog in 2016 with the overarching purpose of promoting a culture of innovation and entrepreneurship in the country.