Govt. Extends “Emergency Credit Line Guarantee Scheme”

What is the News? Government extends the Rs. 3-lakh-crore Emergency Credit Line Guarantee Scheme (ECLGS) until 30th June 2021. It also widens its scope to new sectors, including hospitality, travel and tourism. About Emergency Credit Line Guarantee Scheme (ECLGS): Emergency Credit Line Guarantee Scheme(ECLGS) launched as part of the Covid-19 relief package called the Atma Nirbhar… Continue reading Govt. Extends “Emergency Credit Line Guarantee Scheme”

Startup India Seed Fund 

Why in News?  Rs 1,000-crore ‘Startup India Seed Fund’ was launched during the ‘Prarambh: Startup India International Summit’.   Salient features of Startup India Seed Fund Scheme:  Objective: Fund has been set up to provide initial capital to the startups. After that start-ups will be provided with the Govt. Guarantees, to help them raise debt capital.  Coverage: The fund would offer financial assistance to startups for… Continue reading Startup India Seed Fund 

Union Minister inaugurates the ‘Prarambh: Startup India International Summit’

News: Union Minister of Commerce has inaugurated the ‘Prarambh: Startup India International Summit’. Facts: Prarambh: Startup India International Summit: The summit has been organized by the Department for Promotion of Industry and Internal Trade, Ministry of Commerce and Industry. The summit is organized as a follow-up to the announcement made by the Indian Prime Minister at the… Continue reading Union Minister inaugurates the ‘Prarambh: Startup India International Summit’

1,600 new tech start-ups and 12 unicorns in 2020: Nasscom’s Indian Tech Start-up Ecosystem report

News: National Association of Software and Services Companies (Nasscom) has released the annual start-up report ‘Indian Tech Start-up Ecosystem – On the March to Trillion Dollar Digital Economy’. Facts: Key Takeaways from the Report: Source: NASSCOM Report India has added 1,600 new tech start-ups and a record 12 unicorns in 2020 (the highest ever added in… Continue reading 1,600 new tech start-ups and 12 unicorns in 2020: Nasscom’s Indian Tech Start-up Ecosystem report

Government launched virtual toy hackathon ‘Toycathon 2021’

News: Union Education Minister and Union Minister for Textiles and Women & Child Development jointly launched the Toycathon 2021. Facts: Toycathon 2021: It’s a kind of hackathon for the toy industry. It has been organized by the Ministry of Education, Ministry of Women and Child Development (MWCD), Ministry of Textile, Ministry of Commerce and Industries,… Continue reading Government launched virtual toy hackathon ‘Toycathon 2021’

National Startup Awards 2021

Source: DPIIT News: Department for Promotion of Industry and Internal Trade(DPIIT) has invited applications for the National Startup Awards(NSA) 2021. Facts: National Startup Awards: It was set up by the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry. Aim: To recognize and reward outstanding Startups and ecosystem enablers that are building… Continue reading National Startup Awards 2021

Prime Minister Formalisation of Micro food processing Enterprises (PM-FME) Scheme

Source: PIB News: Tribal Cooperative Marketing Federation of India(TRIFED) has signed an MoU with Ministry of Food Processing Industries(MOFPI) For Upliftment of Tribal Lives Through the Implementation of PM-FME Scheme.  Facts:  PM-FME Scheme: It is a centrally sponsored scheme launched by the Ministry of Food Processing Industries(MOFPI).  What is the aim of PM-FME scheme?  To modernize and… Continue reading Prime Minister Formalisation of Micro food processing Enterprises (PM-FME) Scheme

Initiative to boost domestic manufacturing in India | 26th Nov. 2020

News: Government has recently approved the Production Linked Incentive (PLI) scheme worth up to Rs 1.46 lakh crores for 10 sectors with an aim to make Indian manufacturers globally competitive, attract investment in India and enhance export. The sectors under the scheme include automobiles and auto components, pharmaceuticals, telecom, and networking products, and advanced chemistry… Continue reading Initiative to boost domestic manufacturing in India | 26th Nov. 2020

Production-Linked Incentive(PLI) Scheme

The Union Cabinet chaired by the Prime Minister has given its approval to introduce the Production-Linked Incentive(PLI) Scheme for 10 key sectors. Facts: Aim: To help encourage domestic manufacturing, reduce imports, and generate employment. Features: Under the Scheme, companies will get incentives on incremental sales from products manufactured in domestic units. Implementation: The scheme will be implemented by… Continue reading Production-Linked Incentive(PLI) Scheme

MSME Udyam Process

Source: Indian Express Syllabus:Gs3: Inclusive Growth and issues arising from it. Context: Udyam initiative is promising in terms of capturing reliable and verified information about MSMEs but it can impact some MSME’s from accessing formal finance Why the information available on MSME’s are not adequate? Reliable and updated information regarding small businesses in India is… Continue reading MSME Udyam Process