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BJP manifesto: New scheme to offer collateral-free credit up to Rs 50 lakh to startups

In its bid to harness the demographic dividend of the country, BJP announced a new scheme to provide collateral-free credit of up to Rs 50 lakh for entrepreneurs under which it promised to guarantee 50% of the loan amount for female entrepreneurs and 25% of the loan amount for male entrepreneurs.

twitter-logo BusinessToday.In        Last Updated: April 8, 2019  | 19:04 IST
BJP manifesto: New scheme to offer collateral-free credit up to Rs 50 lakh to startups
In line with its theme 'Phir Ek Baar, Modi Sarkar' announced yesterday, the Bharatiya Janata party (BJP) released its manifesto, 'Sankalp Patra Lok Sabha 2019' on Monday for the upcoming General Elections at party headquarters in New Delhi.

In line with its theme 'Phir Ek Baar, Modi Sarkar' announced yesterday, the Bharatiya Janata party (BJP) released its manifesto, 'Sankalp Patra Lok Sabha 2019' on Monday for the upcoming General Elections at party headquarters in New Delhi.

The ruling party made a slew of promises, to woo different sections of society, which included encouraging the spirit of entrepreneurship amongst the youth in the document.

In its bid to harness the demographic dividend of the country, BJP announced a new scheme to provide collateral-free credit of up to Rs 50 lakh for entrepreneurs under which the party promised to guarantee 50% of the loan amount for female entrepreneurs and 25% of the loan amount for male entrepreneurs.

Also Read:Lok Sabha elections 2019 LIVE: BJP releases manifesto; KISAN scheme to be extended to all farmers

Here are other big poll promises the party proposed in its manifesto to strengthen the entrepreneurship and startup ecosystem in India:

1.    The party offered to ease the regulatory requirement for startups.

2.    The manifesto propounded to facilitate the establishment of 50,000 new startups in India by 2024.

3.    BJP offered to create 100 Innovation Zones in Urban Local Bodies to provide mentorship, industry connects, validation and investor access to the startups.

Also Read: 'Dear sisters and brothers': PM Modi follows Priyanka Gandhi's footsteps in BJP manifesto

4.    The party promised to initiate ranking of Central Ministries, Departments, State Government and CPSUs for their increased engagement with startups and bring in innovation and newer technologies and global practices and skills.

5.    The party in its manifesto pledged to continue to promote and encourage startups through creation of a 'Seed Startup Fund' of Rs 20,000 crore.

Also Read:BJP manifesto: Rs 100 lakh crore to be spent on infrastructure in 5 years

6.    The party sweared to support entrepreneurial venture started by individuals from Scheduled Castes, Scheduled Tribes and other Backward Communities, or Economically Weaker Sections and take forward the 'Standup India' intiative.

7.    The party commited to setup new 'Entrepreneurial Northeast' scheme to provide financial support to the Micro, Small and Medium industries as well as accelerate employment generation in the Northeastern state.

Also Read: BJP releases 2019 election mainfesto 'Sankalp Patra'

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