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One District One Focus Product Scheme

Posted on by Business So Simple in Entrepreneurship, Public Affairs, Startups

The One District One Focus Product (ODOFP) programme cover products of agriculture and allied sectors for 728 districts of the country. The Government has decided to converge resources from ongoing centrally sponsored schemes such as Mission for Integrated Development of Horticulture (MIDH), National Food Security Mission (NFSM), Rashtriya Krishi Vikas Yojana (RKVY), Paramparagat Krishi Vikas Yojana (PKVY), schemes of Ministry of Fisheries, Animal Husbandry and Dairying for ODOFP.

The Ministry of Food Processing Industries (MoFPI) provides financial support  under Centrally Sponsored Pradhan Mantri Formalisation of Micro Food Processing Enterprises Scheme (PM FME Scheme) for One District One Focus Product. PM FME provides financial, technical and business support for upgradation of existing micro food processing enterprises etc. The scheme adopts One District One Product (ODOP) approach to reap the benefits of scale in terms of procurement of inputs, availing common services and marketing of products.

The identified products have potential for both domestic demand and export. PM FME scheme envisages strengthening backward and forward linkages, provision of common facilities, incubation centres, training, research and development (R&D), marketing and branding. The enhanced capacity of processing and value addition in agriculture and allied sector products is for better price realization by the farmers. This scheme is being implemented for a period of five years from 2020-21 to 2024-25.

This information was given in a written reply by the Union Minister of Agriculture and Farmers Welfare Shri Narendra Singh Tomar in Lok Sabha today.

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Ministry of Agriculture & Farmers Welfare Press Release dated 21 July 2021

National Project on Organic Farming

Posted on by Business So Simple in Entrepreneurship, Public Affairs, Startups

Under Capital investment Subsidy Scheme (CISS) of National Project on Organic Farming (NPOF), 100% assistance is provided to State Government / Government agencies for setting up of mechanized fruit/vegetable market Agro waste compost production unit  up to a maximum limit of Rs.190.00 lakh /unit (for 3000 Total Per Annum (TPA) capacity).  Similarly, for individuals/ private agencies assistance up to 33% of cost limit to Rs 63 lakh/unit as capital investment is provided. Under CISS until now, 12 Fruit and vegetable compost units have been established including 4 units in the State of Tamil Nadu and Rs. 148.332 lakh has been released to the State for this purpose.

Completed Projects of Production Units under CISS since 2012-13 till date (as per NABARD)

https://pib.gov.in/PressReleaseIframePage.aspx?PRID=1737286&RegID=3&LID=1

Ministry of Agriculture & Farmers Welfare Press Release dated 21 July 2021

Progress in Doubling Farmer Income

Posted on by Business So Simple in Entrepreneurship, Public Affairs

The strategy adopted by the Government for increasing the income is (i) higher volume of output through higher productivity (ii) lower cost of production and (iii) higher real remunerative returns on the farmers’ produce.

In case of production the farmers have been registering higher productivity across all segments of Agriculture. There has been record growth in total output of food grains, oilseeds, horticulture, milk and so on. The annual production under various sectors has increased appreciably as seen at the end of the year 2020-21. These include a food grains output of 303.34 MTs as against 252.23 MTs(2015-16); 326.58 MTs of fruits & vegetables as against 259.3 MTs (2015-16); 208 MTs of milk as against 155.49 MTs (2015-16).

Major emphasis has been on post-harvest management, which is  helping  farmers in getting better returns on their produce. These include e-NAM, new state marketing Act, direct trade, contract farming, FPOs, agri-logistics, food processing and so on besides healthier procurement operations.

Government’s emphasis on robust procurement of agricultural produce has also ensured better returns to farmers and served as an incentive. In addition to increases in procurement of paddy & wheat through FCI, the quantum of procurement of pulses & oilseeds has leap frogged since 2014-15. Under the new procurement scheme called PM-AASHA, NAFED has been procuring much more than before.

As of now, there is no latest estimate of annual income of farmers achieved and the percentage annual increase vis-a-vis the base year 2015-16. For the purpose of arriving at the average annual income for the year 2015-16, the DFI Committee extrapolated the NSSO survey based income estimates for the year 2012-13, and estimated that average farmers income stands at Rs. 96,703/- per year for the year 2015-16 at 2015-16 prices.

PM-KISAN is an ongoing and continuous Scheme. The entire responsibility of identification of beneficiaries rests with the State / UT Governments. An exclusive web-portal http://www.pmkisan.gov.in has been launched for the Scheme. The financial benefits are released to the beneficiaries on the basis of the data of farmers prepared and uploaded by them on the PM-KISAN web-portal. The data uploaded by the State/UT Governments undergoes three levels of validation. Data that passes all three levels of validation is then processed for the release of benefits. Any data that is found incorrect is sent back to the respective States/UTs for correction.

Budgetary allocations are made at the beginning of financial year based on the anticipated expenditure to be incurred in the financial year, however, any additional requirement of funds based on the actual expenditure is fulfilled by the Government by way of supplementary grants.

The Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) Scheme is being implemented with a view to provide income support to all landholding farmer families across the country, to enable them to take care of expenses related to agriculture and allied activities as well as domestic needs.  The Scheme, effective from 1.12.2018, aims to provide a payment of Rs.6000/- per year for the farmers’ families with cultivable land holding, subject to certain exclusions.  The financial benefit of Rs.6000/- is being released by the Central Government in three 4-monthly instalments of Rs.2000/- over the year directly into the bank accounts of the eligible farmers under Direct Benefit Transfer mode. Any additional requirement of funds will be fulfilled by Government by way of supplementary grants. Central Government has been requesting State Governments from time to time so that all eligible farmers are covered under PM-KISSAN Scheme.

This information was given in a written reply by the Union Minister of Agriculture and Farmers Welfare Shri Narendra Singh Tomar in Lok Sabha today.

Ministry of Agriculture & Farmers Welfare Press Release dated 20 July 2021

Impact of New Farm Laws

Posted on by Business So Simple in Legal awareness

Government had promulgated “The Farmers’ Produce Trade and Commerce (Promotion and Facilitation) Ordinance, 2020”, “The Farmers (Empowerment and Protection) Agreement on Price Assurance and Farm Services Ordinance, 2020”, and “The Essential Commodities (Amendment) Ordinance, 2020” on 5th June, 2020 by following the due procedure. Union Government had enacted the new Farm Laws under entry 33 of List-III (Concurrent List) of Seventh Schedule of the Constitution, under which the Parliament is constitutionally competent to legislate & has passed the laws.

The bills on aforesaid laws were passed by both the houses of the Parliament and subsequently enacted these into Acts on 27th September, 2020.

Government has always been supporting the idea of strengthening of Agricultural Produce Market Committees (APMCs) and making them more competitive through improving services and infrastructure. Government has been providing assistance to  APMCs for infrastructure and value chain development through various schemes like Rashtriya Krishi Vikas Yojna – RAFTAAR, Agriculture Market Infrastructure (AMI), National Agriculture Market (e-NAM), Agri. Infrastructure Fund (AIF) and Agriculture Marketing Infrastructure Fund (AMIF), etc.

The New Farm laws viz, “The Farmers’ Produce Trade and Commerce (Promotion and Facilitation) Act, 2020”,  “The Farmers (Empowerment and Protection) Agreement On Price Assurance and Farm Services Act, 2020” and “The Essential Commodities (Amendment) Act, 2020,  are intended to provide an ecosystem where the farmers can enjoy the freedom of choice relating to sale of farmers’ produce which facilitates remunerative prices to farmers through competitive alternative channels for selling their produce. These farm Acts will facilitate direct buying from farmers in trade area by traders, processors, exporters, Farmer Producer Organizations (FPOs), agriculture co-operative Societies etc., so as to facilitate farmers with better price realization due to reduction in supply chain and marketing cost to enhance their income.

Farm laws provide additional marketing opportunities outside the APMC market yards such as farm-gates, cold storages, warehouse, silos, etc. to help farmers get remunerative prices due to additional competition. Farm laws will accelerate more investment in marketing and value addition infrastructure near to farm gate creating more employment opportunities for rural youth. Further farmers are free to sell their produce in APMC as earlier.

Government of India announces Minimum Support Prices (MSP) for 22 major agricultural commodities of Fair Average Quality (FAQ) each year in both the crop seasons after taking into account the recommendations of the Commission for Agricultural Costs and Prices (CACP). Government also extends remunerative price to farmers through its various interventions schemes. The procurement at MSP is being done by Central and State Agencies under various schemes of Government. Besides, the overall market also responds to declaration of MSP and Government’s procurement operations, results in increase of selling price of the various notified crops.`

MSP policy has nothing to do with Farm Acts. Farmers are free to sell their produce to the Government procurement agencies at MSP or Agricultural Produce Market Committee (APMC) markets or through contract farming or in the open market whichever is advantageous to them. 

This information was given in a written reply by the Union Minister of Agriculture and Farmers Welfare Shri Narendra Singh Tomar in Lok Sabha today.

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Ministry of Agriculture & Farmers Welfare Press Release dated 20 July 2021

Boosting Production of Pulses

Posted on by Business So Simple in Entrepreneurship, Public Affairs

The seed minikits of pulses are distributed to the farmers of major pulse growing States under the National Food Security Mission (NFSM). The district wise allocation and distribution of seed minikits is managed by the respective State Governments.

The Direct Benefit Transfer (DBT) is implemented by the States under the National Food Security Mission (NFSM). The States transfer the benefit to the targeted beneficiaries through DBT by using Aadhar enabled system. Many states viz., Gujarat, Tamil Nadu, Andhra Pradesh, Maharashtra etc have reported Aadhaar enabled distribution of seed minikits. The production and productivity of pulses under seed minikits programme is primarily monitored by State Government field functionaries and State Food Security Mission Executive Committee (SFSM-EC) headed by Chief Secretary/Agriculture Production Commissioner. Besides, field visits of seed minikits fields are also undertaken by National Level Monitoring Teams (NALMOTS) constituted by The Department of Agriculture & Farmers Welfare. As a result of the various interventions under NFSM-Pulses programme, the production of pulses has increased from 16.32 million metric tonnes in 2015-16 to 25.56 million metric tonnes in 2020-21 (3rd Advance Estimates). The productivity of pulses has also increased from 655 kg/ha to 878 kg/ha during the same period.

This information was given in a written reply by the Union Minister of Agriculture and Farmers Welfare Shri Narendra Singh Tomar in Lok Sabha today.

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Ministry of Agriculture & Farmers Welfare Press Release dated 21 July 2021

Sustainble Agriculture

Posted on by Business So Simple in Entrepreneurship, Public Affairs

The Government has adopted several developmental programmes, schemes, reforms and policies that focus on higher incomes for the farmers and to promote Sustainable Agriculture and Farmers Prosperity. All these policies & programmes are being supported by higher budgetary allocations, non-budgetary financial resources by way of creating Corpus Funds like Micro Irrigation Fund and Agri-marketing scheme to strengthen eNAM and GrAMs, as also in the Ministry of Fisheries,Animal Husbandry and Dairying and to promote dairy and fishery sectors. There have been several reforms to unleash the potential and these include Market Reforms like Model APLMC (Promotion & Facilitation) Act, 2017; Establishment of Gramin Agriculture Markets (GrAMs); Agri-Export Policy, 2018; The Farmers Produce Trade and Commerce (Promotion & Facilitation) Act, 2020; The Farmers (Empowerment & Protection) Agreement on Price Assurance and Farm Services Act. 2020; Amendments to Essential Commodities Act, 1955; Promotion of 10,000 FPOs with necessary financial support under Atma Nirbhar Package (Agriculture) and Supplementary Income transfers under PM-KISAN; Pradhan Mantri Fasal Bima Yojna  (PMFBY);  Pradhan Mantri Krishi Sinchai Yojana (PMKSY); Increase in Minimum Support Price (MSPs) for all Kharif & Rabi Crops ensuring a minimum of 50 percent of profit margin on the cost of production; Har Med Par Ped; Bee-Keeping; Rashtriya Gokul Mission; Blue Revolution; Interest Subvention Scheme; Kisan Credit Card (KCC) that now offers production loan to even dairy & fishery farmers besides agricultural crops etc.

             List of various interventions and schemes launched for the benefit of farmers

(i) With a view to provide income support to all farmers’ families across the country, to enable them to take care of expenses related to agriculture and allied activities as well as domestic needs, the Central Government started a new Central Sector Scheme, namely, the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN). The scheme aims to provide a payment of Rs. 6000/- per year, in three 4-monthly installments of Rs. 2000/- to the farmers families, subject to certain exclusions relating to higher income groups.

(ii) Further with a view to provide social security net for Small and Marginal Farmers (SMF) as they have minimal or no savings to provide for old age and to support them in the event of consequent loss of livelihood, the Government has decided to implement another new Central Sector Scheme i.e. Pradhan Mantri Kisan Maan Dhan Yojana (PM-KMY) for providing old age pension to these farmers. Under this Scheme, a minimum fixed pension of Rs. 3000/- will be provided to the eligible small and marginal farmers, subject to certain exclusion clauses, on attaining the age of 60 years.

(iii) With a view to provide better insurance coverage to crops for risk mitigation, a crop insurance scheme namely Pradhan Mantri Fasal Bima Yojana (PMFBY) was launched from Kharif 2016 season. This scheme provides insurance cover for all stages of the crop cycle including post-harvest risks in specified instances, with low premium contribution by farmers.

(iv) Giving a major boost for the farmer’s income, the Government has approved the increase in the Minimum Support Price (MSPs) for all Kharif& Rabi crops for 2018-19 season at a level of at least 150 percent of the cost of production.

(v)     Implementation of flagship scheme of distribution of Soil Health Cards to farmers so that the use of fertilizers can be rationalized.

(vi) “Per drop more crop” initiative under which drip/sprinkler irrigation is being encouraged for optimal utilization of water, reducing cost of inputs and increasing productivity.

(vii) “Paramparagat Krishi Vikas Yojana (PKVY)” for promoting organic farming.

(viii) Launch of e-NAM initiative to provide farmers an electronic transparent and competitive online trading platform.

(ix) Under “HarMedh Par Ped”, agro forestry is being promoted for additional income. With the amendment of Indian Forest Act, 1927, Bamboo has been removed from the definition of trees. A restructured National Bamboo Mission has been launched in the year 2018 to promote bamboo plantation on non forest government as well as private land and emphasis on value addition, product development and markets.

(x) Giving a major boost to the pro-farmer initiatives, the Government has approved a new Umbrella Scheme ‘Pradhan Mantri Annadata Aay Sanrakshan Abhiyan (PMAASHA)’. The Scheme is aimed at ensuring remunerative prices to the farmers for their produce as announced in the Union Budget for 2018. This is an unprecedented step taken by Govt. of India to protect the farmers’ income which is expected to go a long way towards the welfare of farmers.

(xi) Bee keeping has been promoted under Mission for Integrated Development of Horticulture (MIDH) to increase the productivity of crops through pollination and increase the honey production as an additional source of income of farmers.

(xii) To ensure flow of adequate credit, Government sets annual target for the flow of credit to the agriculture sector, Banks have been consistently surpassing the annual target. The agriculture credit flow target has been set at Rs. 13.50 lakh crore for the F.Y.2019-20, Rs.15.00 lakh crore for F.Y. 2020-21 and Rs 16.50 lakh crore for FY 2021-22.

(xiii) Extending the reach of institutional credit to more and more farmers is priority area of the Government and to achieve this goal, the Government provides interest subvention of 2% on short-term crop loans up to Rs.3.00 lakh. Presently, loan is available to farmers at an interest rate of 4% per annum on prompt repayment.

(xiv) Further, under Interest Subvention Scheme 2018-19, in order to provide relief to the farmers on occurrence of natural calamities, the interest subvention of 2% shall continue to be available to banks for the first year on the restructured amount. In order to discourage distress sale by farmers and to encourage them to store their produce in warehouses against negotiable receipts, the benefit of interest subvention will be available to small and marginal farmers having Kisan Credit Card for a further period of upto six months post harvest on the same rate as available to crop loan.

(xv) The Government has extended the facility of Kisan Credit Card (KCC) to the farmers practicing animal husbandry and fisheries related activities. All processing fee, inspection, ledger folio charges and all other services charges have been waived off for fresh renewal of KCC. Collateral fee loan limit for short term agri-credit has been raised from Rs.1.00 lakh to Rs.1.60 lakh. KCC will be issued within 14 days from the receipt of completed application.

(xvi) Several market reforms have been rolled out . These include

  1. Model APLMC (Promotion & Facilitation) Act, 2017
  2. Establishment of 22,000 number of Gramin Agriculture Markets (GrAMs) as aggregation platforms
  3. Agri-Export Policy, that targets to double agri-exports by 2022
  4. The Farmers Produce Trade and Commerce (Promotion & Facilitation) Act., 2020
  5. The Farmers (Empowerment & Protection) Agreement on Price Assurance and Farm Services Act., 2020
  6. Amendments to Essential Commodities Act, 1955, that deregulates various agri-commodities
  7. Promotion of 10,000 FPOs by 2024

(xvii) Creation of Corpus Funds

  1. Micro Irrigation Fund – Rs. 10,000 crore
  2. Agri-marketing Fund to strengthen eNAM and GrAMs – Rs. 2,000 crore
  3. Agricultural Infrastructure Fund (AIF) to build agri-logistics (backward & forward linkages) – Rs. 100,000 crore including Rs 500 crores for Bee-keeping

This information was given in a written reply by the Union Minister of Agriculture and Farmers Welfare Shri Narendra Singh Tomar in Lok Sabha today.

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Ministry of Agriculture & Farmers Welfare Press release dated 21 July 2021

The features of the Pradhan Mantri Gram Sadak Yojana (PMGSY)

Posted on by Business So Simple in Public Affairs

Ministry of Rural Development Press Release 20 July 2021.

Pradhan Mantri Gram Sadak Yojana (PMGSY) was launched as a one-time special intervention to provide rural connectivity, by way of a single all- weather road, to the eligible unconnected habitations of designated population size (500+ in plain areas and 250+ in North-Eastern States, Himalayan States and Himalayan Union Territories as per 2001 census) in the core network for uplifting the socio-economic condition of the rural population. Relaxation has been provided to the Tribal (Schedule V) areas and Selected Tribal and Backward Districts (as identified by the Ministry of Home Affairs (MHA) and Planning Commission) and unconnected habitations in these areas with a population of 250 persons and above in the Core Network as per Census 2001 are eligible for connectivity under the scheme. In the critical Left Wing Extremism affected blocks (as identified by Ministry of Home Affairs), additional relaxation has been given to connect habitations with population 100 persons and above as per 2001 census.

The mandate of PMGSY has been subsequently widened to include new interventions. PMGSY- II was launched in the year 2013, with a target to upgrade 50,000 Kms of the existing rural road network to improve its overall efficiency as a provider of transportation services for people, goods and services. Road Connectivity Project for Left Wing Extremism Affected Areas (RCPLWEA) was launched in the year 2016 for construction/upgradation of strategically important roads chosen in the 44 worst affected LWE districts and adjoining districts in the 9 States of Andhra Pradesh, Bihar, Chhattisgarh, Jharkhand, Madhya Pradesh, Maharashtra, Odisha, Telangana and Uttar Pradesh. PMGSY-III was launched in the year 2019 for

consolidation of 1,25,000 Km Through Routes and Major Rural Links connecting habitations, inter-alia, to Gramin Agricultural Markets (GrAMs), Higher Secondary Schools and Hospitals.

The main features of PMGSY are decentralized and evidence based planning, standards and specifications as per Indian Road Congress (IRC) and Rural Roads Manual, dedicated implementation mechanism at central, state and district level, scrutiny of Detailed Project Reports (DPRs) at multiple levels, strong IT backbone for monitoring and implementation of the programme, three-tier quality management system, unbroken flow of funds, inbuilt mechanism for consultation with public representatives at planning, selection of roads and monitoring stages, etc.

The State of Tamil Nadu has been allocated a target length of 7,375 Km under PMGSY-III. The State has so far been sanctioned 880 road works of 3,198.01 Km at an estimated cost of Rs. 1,817.10 crore, which also includes 18 roads of 78.30 Km sanctioned for widening and strengthening of the existing carriageway width. The implementation period of PMGSY-III is upto March, 2025.

The allocation of funds to the States for implementation of PMGSY depends, inter-alia, on works in hand, pace of expenditure and unspent balance available with the State. The unspent balance with the State as on 1st April, 2021 was Rs. 258.26 crore, out of which the State has spent Rs.227.22 crore as on 15th July, 2021, leaving a balance of Rs. 31.04 crore with the State.

This answer is given  By Minister of State

Insolvency and Bankruptcy Board of India amends the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016

Posted on by Business So Simple in Company Law

The Insolvency and Bankruptcy Board of India (IBBI) notified the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Second Amendment) Regulations, 2016 on 14th July, 2021.

The amendment regulations enhance the discipline, transparency, and accountability in corporate insolvency proceedings:

  1. A corporate debtor (CD) may have changed its name or registered office address prior to commencement of insolvency. The stakeholders may find it difficult to relate to the new name or registered office address and consequently fail to participate in the CIRP. The amendment requires an insolvency professional (IP) conducting CIRP to disclose all former names and registered office address(es) so changed in the two years preceding the commencement of insolvency along with the current name and registered office address of the CD, in all its communications and records.
  1. The interim resolution professional (IRP) or resolution professional (RP) may appoint any professional, including registered valuers, to assist him in discharge of his duties in conduct of the CIRP. The amendment provides that the IRP/RP may appoint a professional, other than registered valuers, if he is of the opinion that the services of such professional are required and such services are not available with the CD. Such appointments shall be made on an arm’s length basis following an objective and transparent process. The invoice for fee shall be raised in the name of the professional and be paid into his bank account.
  1. The RP is duty bound to find out if a CD has been subject to avoidance transactions, namely, preferential transactions, undervalued transactions, extortionate credit transactions, fraudulent trading and wrongful trading, and file applications with the Adjudicating Authority seeking appropriate relief. This not only claws back the value lost in such transactions increasing the possibility of reorganisation of the CD through a resolution plan, but also disincentivises such transactions preventing stress to the CD. For effective monitoring, the amendment requires the RP to file Form CIRP 8 on the electronic platform of the Board, intimating details of his opinion and determination in respect of avoidance transactions. The IBBI has specified the format of CIRP 8 through a Circular issued yesterday. This Form needs to be filed in respect of every CIRP ongoing or commencing on or after 14th July, 2021.

The amended regulations are effective from 14th July, 2021. These are available at http://www.mca.gov.in and www.ibbi.gov.in.

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Ministry of Corporate Affairs Press Release dated 21 July 2021

Government has taken several steps to promote India as a Medical and Health Tourism Destination

Posted on by Business So Simple in Entrepreneurship, Lifestyle, Public Affairs

Ministry of Tourism

Government has taken several steps to promote India as a Medical and Health Tourism Destination: Shri G Kishan Reddy

Posted Date:- Jul 20, 2021

Key Highlights:

  • National Medical & Wellness Tourism Board constituted to promote Medical/Wellness Tourism, AYUSH
  • A draft National Strategy and Roadmap for Medical and Wellness Tourism formulated
  • ‘E- Medical Visa’ introduced for 166 countries
  • Assistance provided under Market Development Assistance (MDA) Scheme to medical/wellness Tourism Service Providers &Centres
  • Medical & health tourism promoted at World Travel Mart (London), ITB, Berlin, Arabian Travel Mart etc.

Ministry of Tourism has taken several steps to promote India as a Medical and Health Tourism Destination.

In order to provide dedicated institutional framework to take forward the cause of promotion of Medical Tourism, Wellness Tourism and Yoga, Ayurveda Tourism and any other format of Indian system of medicine covered by Ayurveda, Yoga, Unani, Siddha and Homeopathy (AYUSH), Ministry has constituted a National Medical & Wellness Tourism Board with the Minister (Tourism) as its Chairman.  The Board works as an umbrella organization that promotes this segment of tourism in an organized manner.

Ministry of Tourism has formulated a draft National Strategy and Roadmap for Medical and Wellness Tourism.  In order to make the document more comprehensive, Ministry of Tourism has invited feedback/ comments/ suggestions on the draft National Strategy and Roadmap from identified Central Ministries, all the State Governments/UT Administrations and industry stakeholders. 

Brochure, CDs and other publicity material to promote Medical and health tourism have been produced by the Ministry and the same are widely distributed and circulated for publicity in target markets.

Medical and health tourism have been specifically promoted at various international platforms such as World Travel Mart, London, ITB, Berlin, Arabian Travel Mart etc.

Medical Visa’ has been introduced, which can be given for specific purpose to foreign travelers coming to India for medical treatment. ‘E- Medical Visa’ has also been introduced for 166 countries.   

Ministry of Tourism provides financial assistance under Market Development Assistance (MDA) Scheme to Medical/Wellness Tourism Service Providers and Wellness Centres accredited by NABH for participation in Medical/Tourism Fairs, Medical Conferences, Wellness Conferences, Wellness Fairs and allied Road Shows.

This information was given by Minister of Tourism Shri G. Kishan Reddy in a written reply in Rajya Sabha today.                                                                                              

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Stand Up India Scheme extended up to the year 2025

Posted on by Business So Simple in Financial Prudence, MSME, Startups

Key Highlights:

  • Stand Up India Scheme was launched by the Prime Minister on 05th April, 2016 and extended up to the year 2025.
  • Stand Up India Scheme facilitates loans to Scheduled Caste, Scheduled Tribe and women borrowers. 
  • A total of 1,16,266 loans amounting to Rs. 26204.49 crore extended under the Scheme since inception.
  • Margin Money requirements for Scheme loans reduced in the Budget Speech for FY 2021-22
  • Activities allied to agriculture included in the Scheme in the Budget Speech for FY 2021-22.

As informed by the Department of Financial Services, Ministry of Finance, the Stand Up India Scheme was launched by the Prime Minister on 05th April, 2016 and has been extended up to the year 2025. The objective of the Stand Up India Scheme is to facilitate loans from Scheduled Commercial Banks (SCBs) of value between Rs. 10 lakh and Rs.1 Crore to at least one Scheduled Caste (SC) or Scheduled Tribe (ST) borrower and one woman borrower per bank branch for setting up a green field enterprise in manufacturing, services or trading sector. As on 28.06.2021, a total of 1,16,266 loans amounting to Rs. 26204.49 crore have been extended under the Scheme since inception.

Pursuant to an announcement made by the Finance Minister in the Budget Speech for F.Y.2021-22, the margin money requirement for loans under the Scheme has been reduced from ‘upto 25%’ to `upto 15%’ and activities allied to agriculture have been included in the Scheme. Apart from this, no other change is contemplated in the scheme.

Government does not allocate funds for loans under the Stand Up India Scheme. Loans under the Scheme are extended by SCBs as per commercial parameters, Board approved policies of respective banks and extant RBI guidelines. An amount of Rs. 500 crore each was however released by Government in FY 2016-17 and FY 2017-18 and Rs 100 crore in FY 2020-21 towards the corpus of Credit Guarantee Fund for Stand Up India (CGFSI).

The Government has taken various steps towards effective implementation of the Scheme, these, inter alia, include provision for submission for online applications by potential borrowers through http://www.standupmitra.in portal, hand-holding support, intensive publicity campaign, simplified loan application form, Credit Guarantee Scheme, convergence with State and Central government Schemes wherever feasible, reduction in margin money and inclusion of activities allied to agriculture etc.

This information was given by Minister of State for Social Justice and Empowerment Sushri Pratima Bhoumik in a written reply in Lok Sabha today.                                                                                                          

Ministry of Social Justice & Empowerment Press release dated 20 July 2021