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Speaking of government-sponsored schemes, there are quite a few benefits you might want to check out! Basically, these are programs your government comes up with to help out folks like us in different areas of life. For example, there might be schemes for healthcare where people can get free or cheaper medical services, which is super helpful when you’re feeling under the weather. Then, there’s usually something for students, like grants or scholarships, to make education more affordable. I’ve even heard of schemes for first-time homebuyers to get financial support when they’re ready to settle down. And let’s not forget about the job training schemes that help people learn new skills if they’re looking to switch careers or if they’ve been laid off. It’s like having a safety net and some extra support when you need it most. So, it’s definitely worth looking into what's available in your area because these benefits can really make a difference!
GOVERNMENT-SPONSORED SCHEMES AND BENEFITS
Speaking of government-sponsored schemes, there are quite a few benefits you might want to check out! Basically, these are programs your government comes up with to help out folks like us in different areas of life. For example, there might be schemes for healthcare where people can get free or cheaper medical services, which is super helpful when you’re feeling under the weather. Then, there’s usually something for students, like grants or scholarships, to make education more affordable. I’ve even heard of schemes for first-time homebuyers to get financial support when they’re ready to settle down. And let’s not forget about the job training schemes that help people learn new skills if they’re looking to switch careers or if they’ve been laid off. It’s like having a safety net and some extra support when you need it most. So, it’s definitely worth looking into what's available in your area because these benefits can really make a difference!
1.PMMY:
The Pradhan Mantri Mudra Yojana (PMMY) is a prominent initiative launched by the
Government of India aimed at providing financial support to micro-enterprises. This scheme
facilitates access to credit, with loan amounts reaching up to ₹10 lakhs, specifically for incomegenerating
activities in the non-farm sector, including manufacturing, trading, and service
industries. It also includes allied agricultural activities such as poultry, dairy farming, and
beekeeping. Loans under PMMY can be obtained through a variety of Member Lending
Institutions (MLIs), which encompass:
i) Public Sector Banks
ii) Private Sector Banks
iii) State-operated Cooperative Banks
iv) Rural Banks from the Regional Sector
v) Micro Finance Institutions (MFIs)
vi) Non-Banking Financial Companies (NBFCs)
vii) Small Finance Banks (SFBs)
viii) Other financial intermediaries approved by Mudra Ltd.
Interest rate
The interest rates are periodically declared by Member Lending Institutions in accordance with the guidelines set forth by the Reserve Bank of India. These rates are determined based on the prevailing guidelines and market conditions.
ELIGIBILE ENTITIES
i) Individuals
ii) Proprietorship Firms
iii) Partnership Firms
iv) Small and Micro Enterprises in the non-corporate and non-farm sectors
2. Standup India Scheme :SC /ST and women entrepreneurs
i) The Stand-Up India Scheme was launched in April 2016 by the Ministry of Finance.
ii) To promote entrepreneurship among Scheduled Castes (SC), Scheduled Tribes (ST),
and women.
iii) The scheme facilitates loans ranging from ₹10 lakh to ₹1 crore.
iv) These loans are intended for setting up green field projects, which include businesses in
manufacturing, services, trading, and agriculture.
v) For non-individual enterprises, at least 51% of the ownership and control must be held
by an SC/ST or woman entrepreneur.
vi) The business should be already established in the borrower's name.The business should be already established in the borrower's name.
vii) The business should be already established in the borrower's name.
viii) The repayment period is 7 years along with moratorium period of upto 18 months.
ix) No collateral is required.
ELIGIBILITY CRITERIA
i) The finance is aimed at green field enterprises.
ii) Male applicants must belong to the SC/ST category.
iii) Applicants must be at least 18 years of age.
iv) The applicant must not have any outstanding default with any financial institution
3. Start-Up India Scheme: Support for Startups
The Startup India Scheme, launched on January 16, 2016, is an initiative by the Government of India to promote entrepreneurship, innovation, and the establishment of startups across the country. It offers financial support through improved access to bank financing and includes a ₹10,000 crore Fund of Funds for Startups, managed by SIDBI, to provide essential funding for eligible startups to foster business growth and development.
Some of the key features and benefits of the Startup India Scheme are as follows:
i) The scheme reduces patent registration fees.
ii) Enhanced Bankruptcy Code offers startups a 90-day exit window.
iii) Startups benefit from a 3-year inspection moratorium and capital gains tax exemption.
iv) Atal Innovation Mission establishes an innovation hub to foster creativity.
v) Targets 5 lakh schools and 10 lakh children for innovation programs.
vi) New schemes provide Intellectual Property Rights (IPR) protection.
vii) Promotes nationwide entrepreneurship.
viii) Aims to position India as a global startup hub.
ix) Tax exemptions include 100% tax relief on profits for three years within the first ten years of
incorporation and exemption from capital gains tax on qualifying investments..
Eligibility Criteria :
1. Entity Type:
The business must be incorporated as a private limited company, partnership firm, or
limited liability partnership in India.
2. Age of the Entity:
The startup should have been incorporated within the last 10 years from the date of its
registration.
3. Turnover Criteria:
The startup must have a turnover of less than ₹100 crore for all financial years since its
incorporation or registration.
4. Focus on Innovation and Improvement:
The business should work towards the innovation, development, or improvement of
products, services, or processes.
5. Not Formed Through Reconstruction or Split:
The startup must not be formed by splitting up or reconstructing an existing business.
6. Eligible Startups:
i) Technology
ii) Healthcare
iii) Agriculture
iv) Education
v) Financial Technology
vi) E-commerce etc.
4. Rashtriya Gokul Mission: Dairy Farming Support
Launched in December 2014, the Rashtriya Gokul Mission (RGM) under the National Program for Bovine Breeding and Dairy Development(NPBBDD) aims to conserve and develop indigenous cattle and buffalo breeds in India. The mission focuses on enhancing milk production, increasing bovine productivity, and improving livestock health to make dairy farming more profitable for rural farmers. Since 2021, RGM operates under the Rashtriya Pashudhan Vikas Yojna, with ₹2400 crore allocated for 2021-2026 to ensure the sustainable growth of India's dairy sector.
Subsidies & Loans to Dairy Units
i) Financial assistance supports the setup of dairy farms for easy business entry.
ii) Subsidized loans enable the purchase of high quality indigenous cattle, easing farmers'
financial burden.
Eligibility Criteria :
1. Dairy Cooperatives:
2. Multistate Dairy Cooperatives:
3. Milk Producer Companies (MPCs):
4. National Dairy Development Board (NDDB) Subsidiaries:
5. Self-Help Groups (SHGs):
6. Farmer Producer Organizations (FPOs):
7. Joint Liability Groups (JLGs):
8. Section 8 Companies:
5.Pradhan Mantri Matsya Sampada Yojana (PMMSY): Fisheries Development
The Pradhan Mantri Matsya Sampada Yojana (PMMSY), launched by the Department of Fisheries under the Ministry of Fisheries, Animal Husbandry, and Dairying, aims to promote the sustainable and inclusive development of India's fisheries sector. This scheme focuses on achieving an ecologically balanced, economically viable, and socially inclusive growth trajectory for the fisheries industry of India while enhancing productivity, profitability, and resource sustainability.
Objectives :
i) Increase Fish Production and Productivity:
Enhance fish production to 22 million metric tons by the year 2024-25.
ii) Sustainable Fisheries Development:
Promote sustainable practices in fisheries and aquaculture.
iii) Double Farmers' Income:
Focus on enhancing the income of fishers, fish farmers, and other stakeholders across the
value chain.
iv) Enhance Infrastructure:
Modernize and strengthen post-harvest infrastructure, including the development of
fish markets, cold chains, and processing facilities.
v) Generate Employment:
Create job opportunities, particularly in rural and coastal areas.
vi) Boost Exports:
Increase fishery exports to ₹1 lakh crore by 2024-25.
The (PMMSY) aims to achieve a "Blue Revolution" by transforming India’s fisheries sector into
a modern, self-reliant, and globally competitive industry, fostering sustainability, innovation, and
rural development.
Eligibility Criteria :
i) Fishers
ii) Fish Farmers
iii) Fish Workers and Fish Vendors
iv) Fisheries Development Corporations
v) Self-Help Groups (SHGs) and Joint Liability Groups (JLGs) in the Fisheries sector.
vi) Fisheries Cooperatives
vii) Fisheries Federations
viii) Entrepreneurs and Private Firms
ix) Fish Farmers Producer Organizations/Companies (FFPOs/Cs)
x) SCs/STs/Women/Differently-Abled Persons.
xi) State Governments/Union Territories and Their Entities
xii)State Fisheries Development Boards (SFDBs)
xiii) Central Government and Its Entitie
6.PM Formalization of Micro Food Processing Enterprises (PMFME): Support for Food Processing Units
The PM Formalization of Micro Food Processing Enterprises (PMFME) scheme, initiated on June 29, 2020, is a Centrally Sponsored Scheme under the Ministry of Food Processing Industries. This scheme is designed to tackle the challenges faced by micro food processing enterprises while harnessing the potential of groups and cooperatives to facilitate the modernization, upgradation and formalization of these enterprises.
Core Elements of the Scheme:
i) Financial Assistance: A credit-linked capital subsidy of 35%, up to a maximum of Rs.10 lakh per unit for individual enterprises, alongside seed capital support for Self-Help
Groups (SHGs).
ii) Training and Skill Development Capacity-building.
iii) Technological Support.
iv) Branding and Marketing Assistance.
Eligibility Criteria :
i) Farmer Producer Organization (FPO)
ii) Self-Help Groups
iii) Co-operatives
iv) Existing Micro Food Processing Entrepreneurs
v) New Units, Whether for Individuals or Groups would only be supported Only for One District One
Product (ODOP).
7.National Livestock Mission (NLM):
The National Livestock Mission (NLM), initiated by the Department of Animal Husbandry and
Dairying, Government of India, seeks to promote entrepreneurship in rural areas, particularly in
the poultry, sheep, goat, piggery, and feed and fodder sectors. The mission focuses on enhancing
the livelihoods of rural populations through the development of these vital sectors.
The NLM Entrepreneurship Scheme provides a 50% capital subsidy for the establishment of
various units, including:
i) Rural poultry farms, encompassing hatcheries and brooder-cum-mother units.
ii) Sheep and goat breeding farms.
iii) Pig breeding farms.
iv) Fodder value addition units (such as hay, silage, Total Mixed Ration (TMR), and fodder
blocks).
v) Storage units for feed and fodder.
The subsidy offered under this scheme ranges from ₹25 lakh to ₹50 lakh, depending on the
specific component and scale of the project.
Eligibility Criteria :
i) Individuals.
ii) Farmer Producer Organizations (FPOs).
iii) Self-Help Groups (SHGs).
iv) Farmer Cooperative Organizations (FCOs).
v) Joint Liability Groups (JLGs).
vi) Section 8 Companies.
8. National Horticulture Board (NHB)
The National Horticulture Board (NHB), established by the Government of India in 1984, is an autonomous society under the Societies Registration Act, 1860. Its main objective is to promote the integrated development of the horticulture sector, focusing on the production, processing, and marketing of fruits and vegetables. The Board plays a crucial role in developing infrastructure for post-harvest management, including cold chain systems, to reduce losses and enhance the efficiency of the horticulture value chain.
Key Schemes under NHB:
The NHB runs schemes to advance horticultural development, focusing on enhancing productivity, quality, infrastructure, and market access. The following are the principal schemes implemented by the NHB:.
1.Development of Commercial Horticulture through Production and Post-Harvest Management
Objectives:
i) To promote the establishment of high-tech horticulture projects aimed at boosting both
production and quality.
ii) To enhance post-harvest infrastructure, such as cold storage facilities and packaging
units.
Key Features:
i) Financial Assistance:
The scheme provides a credit-linked back-ended subsidy of 35% of the project cost for
general areas, and 50% in hilly/tribal regions, with a cap of ₹50 lakh.
ii) Scope of Activities:
It supports a variety of initiatives including the establishment of orchards, nurseries,
greenhouses, and post-harvest infrastructure such as cold storage units.
iii) Support for Stakeholders:
The scheme encourages the participation of entrepreneurs and Farmer Producer
Organizations (FPOs), helping to foster growth and innovation in the horticultural sector.
2. Capital Investment Subsidy Scheme (CISS) for Construction/Expansion/Modernization of Cold Storages and Pack Houses
Objectives:
i) To enhance the capacity of cold chain infrastructure, thereby reducing post-harvest
losses.
ii) To ensure the consistent availability of quality horticultural produce in both domestic and
export markets.
Key Features:
i) Financial Assistance:
The scheme offers a subsidy ranging from 35% to 50% for the construction of cold
storage units, pack houses, pre-cooling units, and ripening chambers.
ii) Promotion of Modern Technologies:
It encourages the adoption of modern, energy-efficient technologies to improve the
overall efficiency of cold storage and related facilities.
3. Technology Development and Transfer for the Promotion of Horticulture
Objectives:
i) To facilitate the integration of innovative technologies aimed at enhancing productivity
within the horticultural sector.
ii) To conduct comprehensive training programs, workshops, and demonstrations for
farmers and entrepreneurs to disseminate knowledge and skills.
Key Features:
i) Financial Support:
Assistance for R&D initiatives to advance horticultural practices.
ii) Promotion of Technologies:
Encourages the use of advanced methods like hydroponics and aeroponics.
4. Market Information Service for Horticulture Crops (MIS)
Objectives:
i) To deliver real-time insights on market trends, pricing, and crop arrivals for horticultural
produce.
ii) To enable farmers and traders to make well-informed business decisions.
Key Features:
i) Systematic collection and dissemination of data via online platforms.
5. Horticulture Promotion Services
Objectives:
i) To foster partnerships among stakeholders across the horticulture value chain.
ii) To support the branding and global promotion of Indian horticultural products.
Key Features:
i) Financial assistance for branding, exhibitions, and trade fairs.
ii) Encourages the development of export-oriented horticulture.
Focus Areas:
i) Promotion of high-value crops such as fruits, vegetables, spices, flowers, medicinal
plants, and aromatic plants.
ii) Advancement of micro-irrigation techniques and protected cultivation methods.
iii) Support for organic and natural farming practices.
Eligibility Criteria:
i) Non-Governmental Organizations (NGOs)
ii) Growers' Associations
iii) Individuals
iv) Partnership/Proprietary Firms
v) Companies, Corporations, and Cooperatives
vi) Agricultural Produce Marketing Committees (APMCs)
vii) Marketing Boards/Committees
viii) Municipal Corporations/Committees
ix) Agro-Industries Corporations, SAUs, and other relevant R&D organizations.
9. Prime Minister’s Employment Generation Programme (PMEGP)
The Prime Minister's Employment Generation Programme (PMEGP), launched in August 2008, is a credit-linked subsidy scheme administered by the Ministry of MSME. It aims to generate employment by establishing micro-enterprises in the non-farm sector, benefiting both rural and urban areas and fostering inclusive economic growth. The scheme was created by consolidating the Prime Minister's Rojgar Yojana (PMRY) and the Rural Employment Generation Programme (REGP). Extended for the five year period 2021-22 to 2025-26, PMEGP has been allocated ₹13,554.42 crore, targeting the establishment of 4 lakh projects and the creation of 30 lakh jobs, with an average of 8 jobs per unit. Additionally, the scheme supports upgrading 1,000 units annually.
Financial Assistance:
Subsidy for Establishment of New Micro-Enterprises:
i) 15% in urban areas and 25% in rural areas for the general category.
ii) 25% in urban areas and 35% in rural areas for special categories (SC/ST, women,
ex-servicemen, differently-abled).
Project Cost:
The maximum eligible project cost under the Margin Money Subsidy is ₹50 lakh for the
manufacturing sector and ₹20 lakh for the business/service sector. Should the total
project cost exceed these amounts, the balance may be financed by banks without any
government subsidy.
Eligibility Criteria:
i) Open to individuals above the age of 18, Self-Help Groups, institutions, and charitable
trusts.
ii) There is no income ceiling for receiving assistance for project establishment under
PMEGP.
iii) Beneficiaries are required to possess a minimum educational qualification of an 8th-grade
pass.
iv) Assistance is available exclusively for new projects specifically sanctioned under
PMEGP.
v) Existing units under the PMRY, REGP, or any other government scheme, or units that
have previously received government subsidies, are not eligible for assistance under this
scheme.
10. Mission for Integrated Development of Horticulture (MIDH)
The National Horticulture Mission (NHM) was launched in the year 2005-06 with the objective
of promoting the holistic development of the horticulture sector. The mission aims to ensure both
forward and backward linkages through a cluster-based approach, encouraging the active
participation of all stakeholders.
The mission provides financial assistance for a wide range of horticulture activities, including the
construction, expansion, and modernization of cold storage facilities with capacities of up to
5000 MT across the country.
Major Interventions under NHM include:
i) Provision of superior quality planting material through the establishment of nurseries and
tissue culture units.
ii) Implementation of initiatives to enhance production and productivity, focusing on area
expansion, rejuvenation, and the promotion and dissemination of advanced technologies.
iii) Development of human resources to strengthen the sector's capabilities.
iv) Creation of infrastructure for post-harvest management and marketing, tailored to the
distinctive comparative advantages of each state/region, considering their diverse agroclimatic
conditions.
Major Interventions under NHM include:
i) Provision of superior quality planting material through the establishment of nurseries and
tissue culture units.
ii) Implementation of initiatives to enhance production and productivity, focusing on area
expansion, rejuvenation, and the promotion and dissemination of advanced technologies.
iii) Development of human resources to strengthen the sector's capabilities.
iv) Creation of infrastructure for post-harvest management and marketing, tailored to the
distinctive comparative advantages of each state/region, considering their diverse agroclimatic
conditions.
Objectives:
1. Enhancement of Production and Productivity: To augment the production and
productivity of horticultural crops, including fruits, vegetables, spices, flowers, and
medicinal plants.
2. Promotion of Modern Technologies: To advocate the adoption of cutting-edge
technologies in horticulture, thereby improving both quality and yield.
3. Market Access Facilitation: To fortify marketing infrastructure and enhance market
access for farmers, ensuring better commercialization opportunities.
4. Entrepreneurship Development: To stimulate entrepreneurship and self-employment
prospects within the horticulture sector, fostering economic growth and innovation.
5. Promotion of Sustainable Practices: To encourage environmentally responsible and
sustainable agricultural practices, ensuring long-term ecological balance.
Eligibility Criteria:
i) All farmers
ii) Registered societies & (SHGs)
iii) Farmer Producer Societies
iv) Entrepreneurs within the horticulture sector
- FAQ
1. What is the maximum loan amount available under the Pradhan Mantri Mudra Yojana (PMMY)?
The PMMY scheme offers up to ₹10 lakh loans to micro-enterprises in the non-farm sector, including services, manufacturing, and trading.
2. Who is eligible for the Stand-Up India Scheme?
The Stand-Up India Scheme can be availed by:
- Scheduled Caste (SC) and Scheduled Tribe (ST) entrepreneurs
- Women entrepreneurs
- At least 51% ownership in non-individual units should be possessed by SC/ST or women entrepreneurs.
3. What are the tax benefits under the Startup India Scheme?
Under the Startup India Scheme, the following can be availed by eligible startups:
- 100% exemption on profit for 3 years within the initial 10 years from incorporation.
- Capital gains tax exemption on eligible investment.
4. In what ways does the Rashtriya Gokul Mission aid dairy farmers?
The mission offers:
- Financial support in establishing dairy farms.
- Loans at subsidized interest for the procurement of indigenous cows.
- Encouragement of bovine productivity and animal health improvements.
5. What is the aim of the Pradhan Mantri Matsya Sampada Yojana (PMMSY)?
The scheme has the following goals:
- Fishing output increases to 22 million metric tons by 2024-25.
- Development of fisheries infrastructure (cold storage, processing units).
- Export augmentation to ₹1 lakh crore.
6. What financial support is offered under the PM Formalization of Micro Food Processing Enterprises (PMFME) scheme?
The scheme provides:
- 35% capital subsidy, up to ₹10 lakh per unit for individual units.
- Seed capital assistance for Self-Help Groups (SHGs).
7. How much subsidy is offered under the National Livestock Mission (NLM)?
The NLM offers a 50% capital subsidy of ₹25 lakh to ₹50 lakh for establishing poultry farms, goat/sheep farms, pig farms, and fodder storage units.
8. Who is eligible to apply for financial assistance under the National Horticulture Board (NHB) schemes?
Eligible applicants are:
- Individual farmers and entrepreneurs
- Farmer Producer Organizations (FPOs)
- Self-Help Groups (SHGs)
- Co-operatives and agro-industries corporations
9. Under the Capital Investment Subsidy Scheme (CISS), what percentage of subsidy is for cold storage?
The scheme gives a 35% subsidy in general regions and 50% subsidy for hilly/tribal areas for cold storage, pack houses, and pre-cooling units.
10. What is the age eligibility criteria to apply for the Prime Minister's Employment Generation Programme (PMEGP)?
Candidates should be at least 18 years old, and they should have passed at least 8th grade for projects greater than ₹10 lakh in manufacturing and ₹5 lakh in business/service sectors.