Min exhorts youths to set up their own enterprise

Minister of State (Independent Charge) for Micro, Small and Medium Enterprises Sanjay Satyendra Pathak has called upon youths to set up their own enterprises and provide employment to others also. Pathak was addressing the inaugural ceremony of the 19th IND-EXPO National Vendor Development Programme and National SC/ST Hub State Conclave organized at Jabalpur.

Pathak told that National Hub Scheme has been started to promote participation of Scheduled Caste and Scheduled Tribe categories in the industrialization of the country. In the new MSME policy, it is mandatory for the central undertakings to purchase 20 per cent material from Micro, Small and Medium Enterprises.

There is provision of purchase of 4 per cent material out of this 20 per cent from Scheduled Caste and Scheduled Tribe entrepreneurs. This will ensure the reach of these entrepreneurs in the competitive market and ensure maximum participation of this category in public procure system. Stressing on the need for organizing vendor development programme at the district level also, he said this will benefit the entrepreneurs from district to block level.

Pathak said that flat 40 per cent subsidy will be given under the state’s new MSME policy from the new financial year. Besides entrepreneurs availing benefits under the Mukhya Mantri Yuva Udyami Yojana, Mukhya Mantri Yuva Swarozgar Yojana and Pradhan Mantri Mudra Yojana will be given plots to set up their own industry in the industrial area on the lines of big industrialists. He told that in the last one year, 5.44 lakh persons have been provided loans and grants to set up their own enterprise against the set target of 5 lakh persons.