Entrepreneurship Encouraged by the Government

By Shital Shah|2nd May 2008
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iGovernment reports that the Indian government is encouraging the growth of entrepreneurship in several different ways, from public private partnerships to employment generation programs. In its Eleventh Plan, macro, small and medium enterprise (MSME) clusters will be promoted.

The Rajiv Gandhi Udyami Mitra Yojana will assist potential 1.5 lakh first-generation entrepreneurs in completion of various formalities and tasks necessary for setting up of their enterprises and to facilitate them in completing the required formalities during the course of Eleventh Five Year Plan.

To tap into young minds, the government will provide financial assistance to universities to run entrepreneurial clubs. Additionally, initiatives to energize traditional industries are included in the Plan.

A scheme for enhancing productivity and competitiveness of Khadi industries and artisans has been proposed, apart from a scheme for rejuvenation, modernisation and technological upgradation of coir industry.

India is quite famous for its five-year plans, and the trend from focusing on just economic and infrastructure development to also including social and human development is promising.