Entrepreneurship Encouraged by the Government

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.

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Evening Edition

Some headlines to start your evening off right:

  • The government of Himachal Pradesh announced at a three-day international conference this weekend that they are drafting a master plan for the development of backpack tourism in the state through strategic public private partnerships (PPPs).  The government ensured that the plan will “optimise the use of natural resources while ensuring ecological safeguards.”
  • In more off-the-beaten track news, West Bengal currently tops the animal cruelty list in India.  In the past three years alone, reports iGovernment, approximately 40,000 animals have faced cruelty in the state of West Bengal. 
  • Prime Minister Manmohan Singh convened a meeting of the Cabinet Committee on Prices today in order to address the issue of soaring prices.  The import duty on soybean oil is expected to be cut in order to encourage imports.  India is also expected to stop the import of wheat for this year.
  • The Confederation of Indian Industry (CII), in collaboration with the corporate sector of Tamil Nadu, has launched long-term rehabilitation mechanisms for Tsunami victims in the state.  Services include healthcare centers, medical camps for eyes and dental health, clean water supply. 
  • The Government of India has allocated Rs. 600 crore for green energy research, design, and development (RD&D).   New schemes include awareness campaigns, incentive-based programs, and development of solar cities and renewable energy technologies for the Eleventh Five Year Plan period. 
  • Currently, the National Rural Employment Guarantee Act (NREGA) is operational in 330 districts in the country.  As of April 1st, the scheme will expand to 604 districts of the country.  Rural Development minister Raghuvansh Prasad Singh has also requested that zero balance accounts be created for NREGA workers for the purposes of transparency and efficiency in the deposit process.