58 mins ago
Andhra Pradesh Pushes One Entrepreneur Per Household Goal
The Andhra Pradesh government wants each family to have at least one entrepreneur.
It is especially encouraging women, young people and self-help group members.
Minister Kondapalli Srinivas discussed the plan at a workshop in Vijayawada.
The government is building MSME parks to help people start businesses.
Nineteen parks have opened, while 138 more are being developed.
These parks could support thousands of businesses and create many jobs.
The government has also set aside money and offered cheaper loans and fee waivers.
More workshops will be held in several districts to help aspiring entrepreneurs.
The Andhra Pradesh government aims to create an entrepreneur in every household, focusing on women, youth and self-help group members.
Minister Kondapalli Srinivas outlined the initiative at an MSME growth workshop in Vijayawada.
The government plans an MSME park in every constituency; 19 have opened and 138 are under development.
The parks are expected to support 2,876 industrial units, attract about Rs. 8,000 crore and create 1.03 lakh jobs.
The government allocated Rs. 300 crore under the CMEP scheme and offered loan-related incentives for DWCRA women.
- Who
- The Andhra Pradesh government, Minister Kondapalli Srinivas, Vijayawada East MLA Gadde Rammohan, and workshop participants including aspiring entrepreneurs.
- What
- A government effort to promote entrepreneurship in every household through MSME parks, financial support, training and market access.
- Where
- The workshop took place at the School of Planning and Architecture in Vijayawada, Andhra Pradesh.
- When
- The MSME growth workshop was held on Wednesday; similar programmes will be organised in phases.
- Why
- The initiative aims to empower women, youth and self-help group members, expand businesses and create employment.
Key facts
- Entrepreneurship goal
- The government is pursuing the vision of “One Family, One Entrepreneur.”
- MSME parks
- Nineteen parks have been inaugurated and 138 are under development.
- Expected industrial units
- The parks are expected to facilitate 2,876 industrial units.
- Expected investment
- The parks are expected to attract about Rs. 8,000 crore in investment.
- Expected employment
- The parks are projected to generate 1.03 lakh jobs.
- Government allocation
- Rs. 300 crore was allocated under the CMEP scheme for new industries.
- DWCRA loan support
- Annual processing charges of up to Rs. 33,500 were waived on DWCRA loans.
- Rural bank interest
- Interest rates on rural bank loans were reduced from 13 per cent to 12 per cent.
Sources
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