UPSC Prelims 2016 Question:

With reference to ‘Stand Up India Scheme’, which of the following statements is/are correct?

1. Its purpose is to promote entrepreneurship among SC/ST and women entrepreneurs. 
2. It provides for refinancing through SIDBI.
   
   

Select the correct answer using the code given below:

Explanation: 

• Stand up India Scheme was launched to promote entrepreneurship at grassroot level focusing on economic empowerment and job creation. The scheme has been extended till 2025.
  
  

• The scheme facilitates bank loans between 10 lakh and 1 crore to at least one scheduled caste (SC) or Scheduled Tribe, borrower and at least one woman per bank branch. This enterprise may be in manufacturing, services or the trading sector. In case of non-individual enterprises at least 51% of the shareholding and controlling stake should be held by either an SC/ST or Woman entrepreneur. Hence, the ultimate purpose is to promote entrepreneurship among SC/ST and women entrepreneurs. So, statement 1 is correct.
  
  
• The scheme will provide financial aid through the Small Industries Development Bank of India (SIDBI) with an initial amount of Rs 10,000 crore. Loans under the scheme are available for only green field projects. So, statement 2 is correct.
  
  

Therefore, option (3) is the correct answer.

Relevance: Stand up India Scheme was launched on April 05, 2016.

Subject:  Polity | Government Schemes and Policies(pol)