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Rajasthan launches Enterprise Promotion scheme for Dalit, tribal entrepreneurs

This scheme provides entrepreneurs with a 9% interest subsidy on loans up to Rs 25 lakh and a 7% interest subsidy on loans up to Rs 5 crore, as well as a provision for margin money of up to 25% of the project cost up to Rs 25 lakh, the Minister said. 

Statesman News Service | Jaipur |

Rajasthan has launched an Enterprise Promotion scheme-2023 to ensure effective participation of Scheduled Castes and Scheduled Tribes in the industrial development of the state.

The Dr. Bhimrao Ambedkar Rajasthan Dalit, Tribal Enterprise Promotion Scheme-2022 will play an effective role and the objectives of this scheme is to ensure effective participation of SC and ST in the development of non-agricultural sectors (manufacturing, service and trade) of the state, said Industries Minister Shakuntala Rawat.

Rawat further said that it will also help in the development of skill and entrepreneurship for the deprived and weaker sections of the society and  prevent the migration to the cities by creating self-employment opportunities for the educated youths of the targeted classes.

This scheme provides entrepreneurs with a 9% interest subsidy on loans up to Rs 25 lakh and a 7% interest subsidy on loans up to Rs 5 crore, as well as a provision for margin money of up to 25% of the project cost up to Rs 25 lakh, the Minister said.

As a result, investors from Scheduled Castes and Tribes will be encouraged to establish new industries and conduct business in the service sector, she added.

Under the scheme, an incubation centre costing Rs 100 crore will be set up in collaboration with DICCI and CII, in which all necessary residential training facilities will be provided to the youth of these categories, including setting up, and operating an enterprise.

The rate of reservation payable to these categories of entrepreneurs in RIICO industrial areas has also been increased from 5 to 6 percent. Apart from this, the prescribed limit of plots to be allotted has been increased from 2000 square metres to 4000 square meters.

According the Minister, in the Rajasthan Investment Promotion Scheme 2019, the minimum investment limit for thrust sectors has been increased to 50 percent for these entrepreneurs, so that more and more enterprises can benefit.

Apart from all this, all types of guidance and cooperation will be provided by the Industries Department to such entrepreneurs before and during the establishment of the industry. For this, the application process will be made easy, transparent, and online. In the next 5 years, a loan of about Rs 1200 crore will be made available to the entrepreneurs.

A resident of Rajasthan origin who belongs to the Scheduled Caste or Scheduled Tribe category and is above 18 years of age at the time of application.