BackRural development ministry ties up with NIESBUD for village-level entrepreneurship programme
The partnership will enable the rural community by helping them set up their trades and provide complete support till they are stabilised
PremiumNEW DELHI : The Union Ministry of Rural Development (MoRD) and the National Institute of Entrepreneurship and Small Business Development (NIESBUD) have signed a memorandum understanding (MoU) to develop a sustainable model for promoting entrepreneurship at the grass roots by initiating the 'start-up village entrepreneurship programme' (SVEP).
NIESBUD is an autonomous organisation under the Ministry of Skill Development and Entrepreneurship (MSDE).
The partnership will enable the rural community by helping them set up their trades and provide complete support till they are stabilised, said a statement from MSDE.
SVEP is a a sub-component of Deendayal Antyodaya Yojana – National Rural Livelihoods Mission (DAY-NRLM) which aims to support entrepreneurs in rural areas to set-up enterprises at the village-level in non-agricultural sectors.
The rural entrepreneurs will be able to access banking systems for receiving financial support for starting their enterprises, including support from MUDRA bank.
Integrated ICT techniques and tools will also be provided for training and capacity building along with enterprise advisory services to augment the entrepreneurship ecosystem in India’s villages, the ministry said.
The beneficiaries of the project are from the self-help group (SHG) ecosystem of DAY-NRLM and the scheme not only supports existing enterprises but new enterprises as well.
Rajesh Aggarwal, Secretary, Ministry of Skill Development & Entreprenuership said that SVEP will help create an innovative ecosystem, accelerating economic and social gains at the community level.
He informed that the scheme also aims at building an inclusive society by providing equal opportunities to all along with the required financial support. "India is a land of opportunities and by helping our youth access these prospects, we are catering to their aspirations," Aggarwal said.
Aggarwal was of the view that rural entrepreneurship can play a significant role in the overall economic development of India and a huge number of employment opportunities can be generated because of the rural entrepreneurship for the people who are living in rural or remote geographies.
The old-age artistic heritage has also been conserved by protecting as well as promoting the rural entrepreneurship, he added.
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