Rs250 cr VC Fund set up for welfare of SC entrepreneurs

Union Ministry of Social Justice and Empowerment has created a Rs 250-crore ‘Venture Capital Fund’ for providing equity-based loans to prospective Scheduled Caste entrepreneurs, with a view to further boost welfare measures for the disadvantaged sections of society. Union Minister Vijay Sampla today said that while his department would provide Rs 200 crore to the Industrial Finance Corporation of India (IFCI), the latter would add Rs 50 crore to it from its own resources for the Fund.

“Out of this fund, Rs 50 lakh to Rs 15 crore easy loan will be given to the prospective SC entrepreneurs for setting up <g data-gr-id="30">industry</g>. He can return <g data-gr-id="28">loan</g> in easy instalments out of the profit,” the Union Minister of State for Social Justice and Empowerment said. He said that his department will earmark Rs 200 crore every year for the Fund. The minister further said that even people from general categories (GC) an avail of this fund by having 60 <g data-gr-id="26">per cent</g> partnership of those from the SCs in the industry.

“This participation of the SCs will have to continue till the entire loan was cleared by the GC person,” he said. For students, <g data-gr-id="24">Sampla</g> said, Rs 3 crore will be given for a hostel for SC girls. He said that Rs 25,000 will be given for motored tricycles to those having 80 <g data-gr-id="25">per cent</g> disability.

“For women empowerment, SC girls will be given drivers training,” he said. “Besides mechanical training, such drivers will also be imparted judo-karate training for self-defence,” he said.