#requirement a project report for mudra loan

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Project Report For Mudra Loan

For Mudra Loans, like any other business loan, requirement a project report for mudra loan which is to be submitted when applying for a loan in the Kishor or Tarun category. However, Shishu loans are the most easily accessible loans for small business owners, and banks are usually do not asked to show project reports.

A project report is an important document that contains information about the business. It also includes a comprehensive cost-benefit analysis of the proposed expenditure for which the business loan is being sought. In addition, it gives the project report for bank loans readers a detailed picture of the cost of the project, scope of activities proposed and existing, existing debt if any, revenue projections, and so on.

The project report should be complete and contain valid data to be readily accepted and approved for loan sanctioning under PMMY.

Introduction – brief Description of the business

Aim/Vision – the aim/objective of the enterprise should be mentioned

Area of Expertise – Key areas or skills on which employees have the expertise to work.

Details about the Promoters and Executive: Profile descriptions like education qualification, experience, etc.

Source of Funds: you can explain in detail how you will arrange your funds or plan to raise funds for the business, owned, borrowed, etc.

Financial Budget – Complete financial information on expenditure required like machinery cost, total cost, furniture cost, working capital required.

Financial Statements: It should the financial statements like profit & loss statement, cash flow statement, and balance sheet.

Estimation: Report should include projected estimation of sales, purchases, expenses, incomes, etc.

Business Equipment Details – Exhaustive list of equipment, parts, plants, and machinery to be used in the project

Commercial Aspects – Plans to be executed related to commercializing the project

Company Profile – Details on company’s background, launch, initiation, milestones, and achievements

Export Orders – Information on export orders, whether domestic or international, if any

Information about Employees – Total number of employees working on the project with their details

Information on Products and Services: Details of all the products and services to be used in the project

Logistics Details: Information on transportation cost to be incurred whether private or commercial

Manufacturing Processes: Details of types of manufacturing processes to be used in the project

Market Potential: Information about the target market, target customer, market demand of the product, etc.

Advertising Strategies: Advertising strategies to be applied or executed for the project

Ratio Analysis: Computation and analysis of different ratios and their implications.

Space or Land Requirement: Information on space or land requirements, if required

Details of the third party engaged with the project if any like raw material suppliers, traders, manufactures, etc.

Break-Even Analysis: Specify the break-even point of the project; its viability in terms of cost and profit.

Conclusion: All project reports should have a conclusion to their end

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A Complete Guide of Documents Required for Loan

Taking out a loan is essential to achieving personal or business financial goals. However, when you go to a bank for a loan, you need to see and understand many documents. Whether you are a homemaker, a business owner, or someone with personal needs, you may need a loan at any time. If you are thinking of taking a loan, you first need to understand your requirements, assess your assets, and then you will also need various documents. In today's blog, we will discuss in detail the documents required for various types of loans, so that whenever you go to take a loan, you are not disappointed.

Why are documents required for loan applications?

Lenders ask for various documents required for loan applications to assess your certified repayment ability and the viability of your monetary needs. These documents help them evaluate the risk associated with lending you money. Whether you’re applying for a personal loan, business loan, or a mortgage, being well-prepared with the necessary documents can expedite the approval process.

Documents Required for Loan Approval

When applying for a personal loan, here are the primary documents required for loan processing:

Proof of Identity: This includes government-issued IDs like a passport, driver’s license, or national ID card.

Proof of Address: Utility bills, rental agreements, or property tax receipts can serve this purpose.

Income Proof: Recent salary slips, bank statements, and tax returns demonstrate your ability to repay the loan.

Employment Verification: For employment verification, you might need a letter from your employer or an employment agreement.

Credit Report: A current credit report helps lenders evaluate your credit history and score.

Business Loans: Specific Documents Required for Loan Applications

For business loans, the documents required for loan approval are more comprehensive, reflecting the complexity and scale of the financial assessment:

Business Project Report: This outlines your business plan, including market analysis, financial projections, and business goals.

Bankable Project Report: A detailed version of your business project report that includes thorough financial analysis and risk assessment, making it more suitable for lenders.

Customized Bankable Project Report: Tailored to meet specific lender requirements, this report can increase your chances of loan approval.

Prototype Project Report: For startups or new business ventures, this report includes prototypes or models of your product or service, showcasing feasibility and innovation.

Read Blog- Mudra Loan - Apply Online, Interest Rate, Types, Eligibilty, Bank List

                    How to Make a Perfect Project Report for Business Loan

Mortgage Loans: Important Documents Required for Loan Processing

Applying for a mortgage requires a detailed examination of your financial status and property details. Here are the essential documents required for loan approval in this category:

Property Documents: Sale deed, property tax receipts, and a no-objection certificate (NOC) from the builder or society.

Down Payment Proof: Bank statements or receipts showing the source of the down payment funds.

Income and Employment Verification: Similar to personal loans, but often with additional documentation such as business financial statements if self-employed.

Credit Report and Score: A good credit score can significantly impact your mortgage terms and interest rates.

Insurance Documents: Proof of home insurance to protect the property against unforeseen events.

 Tips for Preparing Your Documents Required for Loan Applications

Organize Your Documents: Ensure all documents required for loan applications are well-organized and easily accessible. This includes making copies and keeping digital backups.

Check for Completeness: Double-check that you have all necessary documents required for loan approval before submitting your application to avoid delays.

Update Information: Make sure all your documents are current, including your credit report, bank statements, and tax returns.

Customise Your Reports: If you’re submitting a business loan application, consider preparing a customized bankable project report to align with specific lender requirements.

Common Challenges and Solutions

Missing Documents: One of the common challenges applicants face is missing some documents required for loan approval. To avoid this, create a checklist based on the lender’s requirements and cross-check each item.

Incomplete Business Reports: For business loans, an incomplete or poorly prepared business project report or bankable project report can hinder your application. Investing time and possibly consulting a financial expert to create a comprehensive and customized bankable project report can make a significant difference.

Low Credit Score: Having a low credit score can make it difficult to get approved for a loan. It's important to keep an eye on your credit report regularly and work on improving your score. You can do this by paying off debts, fixing any mistakes on your report, and being mindful of how much credit you use.

Conclusion

Understanding and preparing the documents required for loan applications is an important step in the loan approval process. Whether you’re seeking a personal loan, business loan, or mortgage, being organized and thorough with your documentation can significantly enhance your chances of success. From personal identification to a detailed business project report, every document plays an important role in presenting a clear and trustworthy picture to lenders.

Taking the time to gather and prepare the necessary documents not only streamlines the application process but also demonstrates your commitment and reliability to potential lenders. By using the advice given in this detailed guide, you can confidently manage the process of applying for a loan and come closer to reaching your financial objectives.

How to get a project report?

Get your Customized Bankable Project Report with IID

[finelinein]

Enhancing Entrepreneurial Ventures: Finline's Tailored Approach to PMEGP Project Reports

In the ever-evolving landscape of Indian entrepreneurship, accessing financial support is pivotal for budding ventures to flourish. The Prime Minister's Employment Generation Programme (PMEGP) stands as a beacon, fostering micro-enterprises and employment opportunities nationwide. At the heart of this program lies the PMEGP project report – a crucial document delineating the feasibility and potential impact of proposed ventures.

Crafting an exemplary PMEGP project report that meets the stringent criteria of financial institutions can often prove daunting for entrepreneurs. Recognizing this challenge, Finline emerges as a trusted partner, offering innovative solutions tailored to simplify this process.

PMEGP Project Report: Entrepreneurs can harness the power of Finline's cutting-edge PMEGP project report software designed explicitly for bank loans. This intuitive tool empowers individuals to effortlessly generate detailed project reports, ensuring adherence to PMEGP guidelines while enhancing the prospects of loan approval.

Project Report for PMEGP: Finline transcends conventional software solutions, offering a comprehensive approach to project report preparation. Through our dedicated services, entrepreneurs gain access to CA-based assistance. Our seasoned banking and financial experts collaborate closely with clients to craft bespoke project reports, meticulously aligned with PMEGP requirements. This personalized approach not only guarantees precision but also augments the credibility of loan applications.

PMEGP Loan Project Report: Securing funding under the PMEGP scheme demands a robust project report that vividly illustrates the potential for employment generation and economic contribution. With Finline's expertise, entrepreneurs can procure meticulously structured PMEGP loan project reports, showcasing the viability and profitability of their ventures. This strategic documentation expedites the loan approval process and instills confidence in lending institutions.

Finline's commitment to empowering entrepreneurs transcends the realms of PMEGP projects. Our services cater to a diverse spectrum of funding avenues, including Mudra loans, Standup India initiatives, MSME endeavors, and various other bank loans. Whether through our innovative software solutions or personalized assistance, we remain steadfast in facilitating financial accessibility for aspiring entrepreneurs across India.

In summary, navigating the intricacies of PMEGP project reports necessitates expertise and precision. With Finline as a trusted ally, entrepreneurs can embark on their journey with confidence, knowing that their project reports are meticulously crafted to surpass the highest standards of excellence.

Through the amalgamation of technology and expertise, Finline empowers individuals to transform their entrepreneurial visions into tangible realities, one project report at a time.

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What Is The Format Of A Bank  Project Report, What Points You Should Consider While Submitting It

The project report fundamentally contains insights concerning the money related, monetary, administrative, creation and specialized parts of the business. This additionally includes top to bottom data and examination about assets prerequisites, for example, creation, apparatus, fabricating measure, producing limit, the necessity of crude materials, labour, force and water, and different business-related costs. 

Is it mandatory? 

Indeed. A business must introduce the Project Report for bank credit including business plan, projected financials, suitability study, specialized investigation, and so on, for benefiting advance or assets from a bank and other money-related foundations to meet the monetary prerequisites of the business. In any event, for a Startup, a Project report is the significant principal record which they should be prepared at whatever point they are looking for any sort of subsidizing from VC, Private Equity. The Project Report should be introduced in the acknowledged arrangement, for example, CMA information design for bank loans. Anyway Project report design for bank advance relies upon sort of advance as well. For a little advance plan, for example, Mudra credit Project report is required. However, it is simply a fundamental type of project report where just Financial projections for the long term is required. 

Who can make it? 

The undertaking and cycle of making a proper project report are a significant one. Accordingly, the Project Reports for Bank credit are commonly set up by the specialists CAs, Financial Professionals, Ex-Bankers. 

Why is a Professionally made project report required? 

A Project Report is a base archive for the examination of things to come execution of an element, and it is an extremely pivotal record to shape a feeling on the fate of an organization or business element. 

For benefiting the working capital advance, term advance and different loans from banks or money related organizations. 

For making an introduction to getting value interest in the financial specialist. 

For organizing/rebuilding bank advance/monetary and business procedures of the firm. 

For purchasing, they are dominating or beginning another business. 

For making appropriate removal of a current business. 

For evaluating the estimation of the project or the business. 

Does the bank check the data you have given? 

Obviously! The bank checks the budgetary subtleties and other data introduced in the project report before giving the advance to the business. Subsequently, it is encouraged to set up a slick project report for a bank advance with all the vital insights about the money related projects of the business. Anyway, the information given in Financial projections are simply founded on a base judgment premise and can't be confirmed. However, Bankers need to check the practicability of suspicions made. 

Consider the possibility that your project report gets objected to. 

On the off chance that the submitted project report for the bank advance, in any case, gets disliked by the bank, at that point, the business firm applying for the credit may set up another project report and reapply or may apply the project report to some other bank or monetary organizations. It is essential to take note of that For Disapproval of credit; this may not be the main explanation. 

The Format of project report for Bank Loan: 

The Introduction Page 

Synopsis of the project 

Insights concerning the Promoters, work insight, their instructive capabilities, and so forth 

Current Status of the Bank, target market, its items and administrations, and exercises 

Subtleties of the top administration and representatives, their instructive capabilities, work insight, and so on 

Framework offices and administrations, operational premises, devices conveyed, apparatus and. hardware, and so forth 

Subtleties of the Customers, just as planned clients 

Territorial Operation 

Tie-ups and monetary acquisitions 

Financing Means 

Balance Sheet 

Profit and Loss Statements 

Asset Flow Statement 

chief Ratios 

Make back the initial investment Point Evaluations. 

conclusion 

As above, is the organization of the project report for the bank advance. And all project reports (for Bank Loans) ought to be set up based on the previously mentioned design. 

Conclusion: Role of Project Report in Loan Approval 

Consequently, a Project Report for Bank Loan is vital for profiting assets and advance from money related foundations and banks for the necessities business fundings. It is mandatory for the said reason and should be set up based on the organization as we clarified previously. Disappointment in introducing an obvious project report may bring about objection by the bank and then you need to reapply or rethink the data entitled in the reports. In this way, as now if you have any questions or any inquiries concerning the planning of the project report of bank credit, at that point, get in touch with us.

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Project Report

If you want to begin a new business or a project or want to enrich your existing business unit, funding is a primary need of any business.  

No matter how good you have planned for the business but lacking funds to execute the plan is totally waste. Business owners should approach for project report for bank loan and other financial bodies who can help you in arranging required starts to start or enlarge existing businesses. 

However, there are various need to avail a loan from Project Report for Bank Loan and the requirements differ from bank to bank depending on the amount and the type of loan you opt for.  

Importance of project report  

Project report aids to forecast the threats as well as the potential to score the business. 

Moreover, it assists the business owners to get an right idea about the original inputs required for the business.  

A project report makes it clear and simple to control the budget and the cost other than the projected cost. 

This can be a source of information to respond on the quality of work, success and team outcomes. 

This assists in getting funding and certain loans from several banks, financial institutions, Venture capital funds, Private equity, Government schemes like MUDRA loan, MSME loan in 59 minutes, etc. 

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Loan for Startup

Startup India campaign was announced in the year 2015, with that a rapid growth in new Micro, Small & Medium Enterprises (MSMEs) has been reflected so far. The action plan aims at promoting bank financing for startups. It has also encouraged the startups newly setting up businesses, which will eventually lead to more job creation and shall help in the nation’s economic growth.

Loan for startup business are often provided by various banks and leading financial institutions. financeseva Loan for Startup Interest Rate begin at @8% onwards. To avail such business loan, one needs to meet the eligibility requirements that are required by lenders to unlock popular business loan schemes.

Eligibility Criteria for Loan for Startup

Applicant age should be minimum 21 and 65 years

Applicant should have a well-drafted business plan or project report

Startup to be formed must as a sole proprietorship, partnership firm, private or public limited company or a limited liability partnership (LLP)

Credit score of 750 or above

Applicant with no previous loan defaults with any bank are preferred by lender

Annual turnover of the firm should not exceed Rs. 25 Crore.

Types of Business Loan Schemes for Startup in India

Term Loan (Short-term/Long-term)

Working Capital Loan

Overdraft Facility

Loans under Pradhan Mantri Mudra Yojana

Letter of Credit

Bill/Invoice Discounting

Startup India from Government of India

Micro Loans from NPO & NGOs

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Pradhan Mantri Mudra Loan Yojana- Financeseva

what is PMMY Full Form

PMMY Full Form is Pradhan Mantri MUDRA Yojana is initiated by Hon’ble Prime Minister on 2015 with the aim to support financial assistance to micro & small enterprises.

How To Make Use Pradhan Mantri MUDRA Loan Yojana (PMMY)

Micro & Small Enterprises (MSEs) plays a vital role in developing economic growth of a country & India stands among them. Almost 40% GDP contributed by micro & small enterprises sector & ultimately create a huge number of job opportunities to new youngsters. Significantly, they are known as emerging key players of economic growth. Finance is an essential need of every business without a proper cash flow, it becomes restricted to manage things, wherein numerous finance Scheme introduced by Government of India & one such Scheme is Pradhan Mantri MUDRA Yojana.

What is Pradhan Mantri MUDRA Yojana?

The government of India initiated PMMY Murda Yojana Scheme through Mudra subsidiary SIDBI to support micro & small enterprises by providing financial assistance up to 10 lacs. Key Features Pradhan Mantri MUDRA Yojana:-

Under PMMY Scheme 3 varied categories sub-divided

Applicants can avail Mudra loan up to 10 lacs

Collateral-free loan facility is available

Maximum tenure up to 60 months

Nil processing fee

Varied Types of Mudra Loan:

Under the PMMY Scheme 3 varied categories sub-divided has followed under:- Shishu Loan:- Firstly, through Shishu PMMY Loan entrepreneurs can avail loan up to Rs.50,000 to finance their startup business.

Kishor Loan:- Secondly, Kishor Loan can be obtained to expand an existing business, under Kishor loan borrowers get loan up to 5 lacs.

Tarun Loan:- Thirdly, Under Pradhan Mantri Mudra Yojana –Tarun loan provides loan up to 10 lacs with 3-5 years of repayment period to repay loan & this type of facility can be used for business expansion purposes.

Which sector are eligible to get Mudra Loan?

Under PMMY Mudra loan following listed sectors are covered:-

Food Sector:- Business engaged in food sector performing activities like food shop, food distribution, preserving food through cold storage can get mudra loan to set up new or expand their existing business.

Transport Vehicle Sector:- Activities covered under transport vehicle sector include commercial vehicle agency, warehouse service, transport & logistics.

Textile Sector:- Business engaged in textile sector performing activities like handloom, weaving, khadi work, processing & apparel manufacturing can get PMMY loan to set up new or expand their existing business.

Traders & Shopkeepers:- Import & export trading unit along with other shopkeepers are eligible to get mudra loan.

PMMY Mudra Loan Eligibility Criteria

PMMY Mudra Loan has certain eligibility criteria that need to be checked before application. Kindly through the following points:-

Applicant must be a resident of India.

Applicant minimum age should be above 18 years.

Individuals/Private limited companies/sole proprietor firm/partnership firm or public limited companies.

All micro & small units engaged in manufacturing & services sector.

Loan requirement should not exceed more than 10 lacs.

New & existing businesses both are eligible.

Firms involved in farming activities are not eligible.

SMEs owned by women entrepreneurs are also eligible.

Documents Required for PMMY Mudra Loan

Pradhan Mantri Mudra Yojana requires the following documents to be submitted at the time of loan application.

Application form with attaching passport sized photographs

Business plan along with project report

Proof of special belonging categories like SC/ST/OBC & other minority communities.

KYC documents- (Aadhar Card, PAN Card, Voter ID, Passport & Driving License).

Company registration certificate & other required documents.

Business address proof – (rent/lease agreement, electricity bill, bank statement.

How to apply for PMMY Mudra Loan Online?

Step 1: – Applicants have to choose their preferred bank enlisted under PMMY Scheme, then download the application form & fill with correct value.

Step 2: – Once, you fill the Pradhan Mantri Mudra Yojana application form. Make sure all the blanks are filled to avoid any kind of tension at last time.

Step 3: – Upload the filled application form along with relevant documents on the online web portal of respective bank.

Step 4: – After the submitted, check your mail on regular basis. As bank representative can contact you anytime for further formalities.

Step 5: – Bank representative will go through your application & evaluate certain factors, if your application seems good then only, they would process for loan sanction.

PMMY Mudra Loan FAQ

What is PMMY Mudra loan?

The Government of India initiated Mudra loan under this credit facility PMMY exists, it aims to facilitate bank loan to micro & small enterprises whether it’s a new or existing firm.

What is Mudra loan interest rate?

Generally, starting 8% onwards rate is charged but bank to bank Mudra loan interest rate get varied.

Who are eligible for PMMY Mudra loan?

Under this scheme only existing business borrowers are eligible along specified categories segment are funded.

Can a women entrepreneur apply for Mudra loan?

Yes, Women entrepreneur with an ideal concept of business can apply for Mudra loan & get upto 10 lacs to startup business.

How much loan amount offered under PMMY scheme?

PMMY scheme divided into 3 categories named Shishu, Kishor & Tarun accordingly respective maximum loan amount of 10 lacs is granted.

How can I apply for Mudra loan online?

To apply online, applicant have to select the optional bank that come under PMMY Scheme – visit their official website-download the application form & fill them to submit with required documents.

Is there any separate application form for Tarun loan?

Yes, if you are applying for Shishu loan or Kishor loan general application form is used but in case you are applying for Tarun loan require separate application form that can be accessible at bank.

How much time given to repay Mudra loan?

To repay loan banks give tenure period ranging from 3 years to 5 years. If you want to repay loan before selected period then certain charges are levied.

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What are the Options for Raising Startup Funds

What are the options for raising startup funds? Money is the blood of every business. Many businesses fail during the first year of operation. Lack of funds is the common reason for the failure of the business. In order to generate revenue in business, you need capital. It will require at each stage of business.

The requirement of fund mainly depends upon the nature and type of the business. When you determine the need of fund then you will start finding sources for raising startup funds.

Let us discuss the available options for raising startup funds:- • Self-funding for a startup business: self-funding is the most effective way of raising startup funds which are also known as bootstrapping. For the first time, entrepreneurs have face difficulty in getting funds without some traction and a plan for the potential success of the business. You can raise fund from your own savings and borrow from your friends and family. It is easy to raise funds because it involves fewer formalities and less cost of raising funds. It is considered to be the best option due to its advantages.

• Raise funds through bank loans: when entrepreneurs thinking about raising startup funds then the bank is the place where they can go. Banks offer two types of financing for a startup business: working capital loan and funding. The working capital loan is the amount which is needed to run the cycle of business for generating revenue. Funding includes the process of sharing the plan, the valuation details and project report on which approval of the loan is based. Most banks in India provide many SME finance by various programs.

• Get business loans from micro-financers or NBFC: if you don't get approval for a bank loan then don't worry. It is an option for you. Microfinance mainly provides financial services to those who would not have to get banking services. It is the most popular for those who need are limited. NBFC offers banking services without any legal requirement of a bank.

• Government programs that offer startup capital: The Government of India has launched many programs for raising startup funds. Government has launched the Bank of ideas and innovations program in order to increase innovative product companies. Government starts Mudra plan with an initial collection of 20,000 crores to increase benefits to around 10 lakhs. You required to submit your business plan. For the sanction of loan, you need the approval of the business plan. You will get MUDRA card that you can use to buy raw materials or other expenses.

• Get angel investment in a startup: angel investors are those who are having huge cash and interested to invest in startups. They work in groups of the network to overall screen the proposals before investing. They also provide advice along with funds. The main advantage of raising startup fund from angel investors is that they are ready to take more risks in investment for higher returns.

So, all these are the options for raising startup funds. You can raise your funds from any option according to your convenience and suitability.

[hellotaxindia-blog]

4E (End to End Energy Efficiency) Launched in: September 2016 Headed by: Small Industries Development Bank of India (SIDBI) Industry: Sector-agnostic Eligibility: MSME startups in the manufacturing or services sector that have been operating for at least three years and have earned cash profits in the last two years are eligible for the loan. Here are the specific eligibility criteria. The startup should not be in default with any bank/financial institutions It should have undergone a process of detailed energy audit (DEA) through a technical agency/consultant that is a Bureau of Energy Efficiency (BEE)-certified energy auditor The detailed project report (DPR) prepared by the technical agency/consultant should have been vetted by the Energy Efficiency Cell (EEC), SIDBI The unit should not have availed a performance linked grant under the World Bank-Global Environment Facility (WB-GEF) Project for the proposed energy efficiency (EE) Project and should be in compliance with the Environment and Social Management Framework Overview: This MSME scheme for entrepreneurs has been launched jointly by India SME Technology Services Ltd (ISTSL) in association with World Bank. The main objective is to implement energy efficiency measures across Indian industries on an end-to-end basis. Also, it aims to help startups finance purchases of second-hand machinery/equipment. The business loans for startups under this scheme meet part costs of: capital expenditure, including for the purchase of equipment/machinery, installation, civil works, commissioning, etc. any other related expenditure required by the unit provided it is not more than 50% of capital expenditure. Fiscal incentives under the 4E scheme: The MSME startup has to pay only INR 30,000 and applicable taxes and the balance fee will be paid by SIDBI to auditors Up to 90% of the project cost with a minimum loan amount of INR 10 Lakh and a maximum loan amount not exceeding INR 150 Lakh per eligible borrower can be granted under this scheme. Eligible loan amount should not exceed one-fifth of the total turnover of the applicant unit. Time period: The repayment period, including the initial moratorium period of up to six months, shall not be more than 36 months for loans up to INR 100 Lakh and 60 months for loans beyond INR 100 Lakh. Bank Credit Facilitation Scheme Launched in: NA Headed by: National Small Industries Corporation (NSIC) Industry: Sector-agnostic Eligibility: MSMEs registered in India Overview: The scheme aims to meet the credit requirements of MSME units. The NSIC has entered into a MoU with various nationalised and private sector banks for the purpose. Through syndication with these banks, the NSIC arranges for credit support (fund- or non-fund-based limits) from banks without any cost to MSMEs. Fiscal incentives: NA Time period: The repayment period varies depending on the income generated from the startup and generally extends from five to seven years. However, in exceptional cases, it can go up to to 11 years. Credit Guarantee Scheme (CGS) Headed by: Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) Industry: Sector-agnostic Eligibility: The scheme is applicable to new and existing MSMEs engaged in manufacturing or service activities, excluding retail trade, educational institutions, agriculture, self-help groups (SHGs), training institutions, etc. Overview: The Credit Guarantee Scheme was launched by the government to strengthen the credit delivery system and to facilitate the flow of credit to the MSME sector. The lending institutions under this scheme mainly include public, private, and foreign banks, along with regional rural banks and the SBI and its associate banks. Fiscal incentives: This MSME scheme for entrepreneurs comes with a number of benefits, including term loans and/or working capital loan facility up to INR 200 Lakh per borrowing unit. Here are some more details of the scheme: The guarantee cover provided is up to 75% of the credit facility up to INR 150 Lakh 85% of credit facility for loans up to INR 5 Lakh is provided to micro-enterprises 80% of credit facility for MSMEs owned/operated by women and all loans to NER including Sikkim 

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STARTUP LOAN FOR BUSINESS – HOW TO GET EASY FUNDING

Startup Loan for Businesses for the existing businesses looking to expand and individuals start a new business. Most of the banks provide this kind of loan. It is similar to personal loans.

There Are Two Types Of Startup Loan for Business

Line Of Credit

It works in a similar manner to a credit card. Here the card has a tie-up to the individual’s business. One of the best benefits in this type of loans is customers don’t have to pay interest for the first nine to fifteen months. After this period the interest will rise between 7.9% and 19.9%. Customers have to pay interest only on the sum they use.

Equipment Financing

In this type of loan, banks pledged the equipment as collateral. By this lender has to pay a low-interest rate with a slightly higher risk. The main benefit of this type of loan is a customer can cause depreciation of the equipment as a tax benefit for many years. Customers should have a high credit score (680+), a detailed credit report and the required documents to avail this loan.

Must Read:

HOW TO GET EASY LOAN ON LIC POLICY?

Documents Required for Startup Loan for Business

Photographs

2 passport size

Proof Of Identity

Aadhar card, PAN card, passport, driving license, voter ID

Address Proof

Aadhar card, voter ID, driving license, passport, postpaid phone bill

Age Proof

Pan card, passport

Bank Statements

Last six months

Proof Of Income

Salary slips, income tax returns

Signature Proof

Pan card, passport, bank verified signature

IFSC Code Proof

Scanned/cancelled cheque, passbook’s front page photocopy

Features And Benefits

No security or collateral required to avail a loan for a startup.

These loans come with flexible and easy repayment tenures.

The documentation for availing this loan is nominal.

The funds get rapid distribution to the applicant’s bank account.

Eligibility

Age of the applicant should range between 21 years to 65 years

Applicant must be an Indian citizen

Applicant should have a business plan

Must Read:

10 BEST BANKS FOR PERSONAL LOAN IN INDIA

How To Get Startup Funding-Startup Loan for Business

Loans For Startups By The Government Of India –

Bank Credit Facilitation Scheme –

Pradhan Mantra Mudra Yojana (PMMY) –

Credit Guarantee Scheme (CGS) –

Standup India –

Sustainable Finance Scheme –

When the business is in the early stage or just an idea, it is a challenge to get funding. Also, the small, micro and medium enterprises sector in India only has limited access to formal credit.

This scheme is headed by NSIC (National Small Industries Corporation); it looks at the credit needs of the MSME units. Also, NSIC has partnered with several banks so they can provide loans to MSME units. Scheme’s repayment tenure ranges between 5 years and 7 years. It can be extended up to 11 years in special cases.

This scheme is headed by MUDRA (Micro Units Development and Refinance Agency) and launched in 2015. It offers loans to all kinds of trading, manufacturing and service sector activities. Also, the scheme offers a loan under 3 categories – Tarun, Kishor and Shishu. This loan can be availed by shopkeepers. Artisans, machine operators, vegetable vendors, repair shops, etc.

New and existing MSMEs can avail this loan that is involved in manufacturing and service activities. CGTMSE (Credit Guarantee Fund Trust for Micro and Small Enterprises) head this scheme. But, agriculture, retail trade, educational institutions, self-help groups (SHGs) are excluded from this scheme.

This scheme is headed by SIDBI and launched in April 2016. It extends loans to enterprises in trading, manufacturing or services. Also, one can avail loan between Rs. 10 lakh and Rs. 1 crore. Further, the repayment tenure is 7 years and the maximum moratorium period allowed is 18 months.

It is also headed by SIDBI and offers loans to industries that deal in renewable energy, green energy, technology hardware and non-renewable energy. Further, the government started this scheme to offer support to the complete value chain of energy efficiency/cleaner production and sustainable development projects.

Startup India Registration

Log on to startup India portal

Enter your legal entity

Then enter your business registration number

Enter the registration date

Then enter your PAN number

Enter the address, pin code and state

Also, enter details of authorized representatives

Enter the details of partners

Upload the required documents

File the registration certificate

Must Read:

10 BEST BANKS FOR EDUCATION LOAN IN INDIA

How To Apply For A Startup Loan for Business In India?

The borrowers are needed to carry out the required paperwork. Then submit the required documents to avail the loan for a startup. These loans are offered by the government so some of the loans are collateral-free.

Some Of The Important Things To Check Before Applying For The Startup Loan:

Personal Background: Personal background means whether you had a criminal history. Details of your background are checked.

Resume Or Business Background: They ask for the applicant’s experience in growing the business.

Business Plan: There should be a well-thought business plan in the loan application.

Personal And Business Tax Returns: They ask for the past 3 years personal and business tax returns.

Legal Documents: Proof of the legal business.

Collateral (if required): It may help you get a bigger amount of loan for startup and strengthen your profile.

Advantages Of Securing Startup Loan From Bank

There are various benefits of securing a loan for a startup from a bank because venture capital funds are very costly. Also, the return rate to the bank is fixed at a low amount of about 13%-17% and banks do not require equity dilution. If we talk about the approach then banks are available everywhere in India and easier to approach. Also, it is too easy to approach your local bank and request for funds. Banks have a well-established framework for funding evaluation. So the whole process of requesting funds is fast in banks than a venture capitalist.

Hence, here we discussed loan for startup and we clearly see that the government is encouraging for better business opportunities. So, there are different types of loans that the government offers for different purposes. One can avail the loan which suits their requirements. Most of these loans also have a subsidy, which helps most in beginning a new business.

[marymosley]

NDA Govt’s Top 10 Welfare Schemes

This article could have had the scope of speculating whether the success of the NDA govt. schemes would lead to its victory in the much-awaited 2019 Lok Sabha Elections, if only this article was written earlier in time. Now, the air is clear, the parliamentary election in world’s largest democracy has ended and the people have given their verdict in favour of the Modi-led NDA, yet again. There will always be naysayers, but believe it or not, the Indian PM has one of the largest followings, ever. It’s not just his attitude, style, personality, or oratory skills that has garnered him so much love, fandom, believers, followers, and yay-sayers, its also the policies and schemes being brought around during his leadership and tenure at the prestigious office, that has reaped him so many praises. As we are stepping into whats being called as the second era of Narendra Modi Government, or simply “Modi 2.0”, lets have a brief look at the top 10 welfare schemes of the Government of the day.

  1. Pradhan Mantri MUDRA Yojana (PMMY)

Pradhan Mantri MUDRA Yojana (PMMY) is a scheme launched by the Hon’ble Prime Minister on April 8, 2015 for providing loans upto 10 lakh to the non-corporate, non-farm small/micro enterprises. These loans are classified as MUDRA loans under PMMY. These loans are given by Commercial Banks, RRBs, Small Finance Banks, Cooperative Banks, MFIs and NBFCs. The borrower can approach any of the lending institutions mentioned above or can apply online through this portal. Under the aegis of PMMY, MUDRA has created three products namely ‘Shishu’, ‘Kishore’ and ‘Tarun’ to signify the stage of growth / development and funding needs of the beneficiary micro unit / entrepreneur and also provide a reference point for the next phase of graduation / growth.

  2. Swachh Bharat Mission (SBM)

Cleanliness is next to Godliness. The Prime Minister launched his pet project for a clean India on Mahatma Gandhi’s birth anniversary October 2, 2014. The PM roped in prominent personalities from the film industry, sports, media, business and other celebrities to promote the initiative. [2] there is also a swacchta sarvekshan been conducted time to time to adjudge the cleanest cities positions rank-wise; Indore in Madhya Pradesh has topped the list the third time as well.

PM Modi’s flagship sanitation campaign in India that aims to build toilets and clean up streets, roads and infrastructure of India’s cities, towns and rural areas. In urban areas, over 46 lakh individual toilets have been constructed out of nearly 94 lakh application received for toilet construction. Total community and public toilets stood at 3.1 lakh and the number of open defecation free (ODF) cities clocked at 2,212 as of May 24, 2018. In the rural areas, over 7.2 crore toilets have been constructed across all villages in India compared to 9.5 crore households that do not have toilets. More than 60 percent of the rural households in all sates are reported to have toilets except Odisha (55 percent) and Bihar (55.1 percent). Out of the 3.6 lakh villages which self-declared open defecation free (ODF), 2.5 lakh declarations have been verified. [3]

In October 2014, Bill Gates had praised Prime Minister Narendra Modi’s emphasis on building more toilets in the country. “Narendra Modi has India talking about toilets and that’s a great thing,” Gates said in a tweet which was retweeted by Modi. On his blog, Gates said, “This is not the kind of issue that most politicians like to talk about. But I would guess that in the short time he has been in office, Prime Minister Modi has done more to raise the awareness of the need for toilets than any other leader since the country gained independence“. [4]

  3. Pradhan Mantri Kaushal Vikas Yojana (PMKVY)

Pradhan Mantri Kaushal Vikas Yojana (PMKVY) is the flagship scheme of the Ministry of Skill Development & Entrepreneurship (MSDE) implemented by National Skill Development Corporation. The objective of this Skill Certification Scheme is to enable a large number of Indian youth to take up industry-relevant skill training that will help them in securing a better livelihood. Individuals with prior learning experience or skills will also be assessed and certified under Recognition of Prior Learning (RPL).

  4.Beti Bachao – Beti Padhao

“When you educate a man, you educate a man but when you educate a woman, you educate a generation”.  With an objective to generate awareness and to improve the welfare services provided to women, on January 25, 2015, Modi launched the Beti Bachao, Beti Padhao campaign. The focus was laid on 100 selected districts that are low in Child Sex Ratio (CSR) for safeguarding the survival and education of a girl child.  Beti Bachao, Beti Padhao (BBBP) was launched by the Hon’ble Prime Minister, Shri Narendra Modi, on 22nd January, 2015 in Panipat, Haryana as one of the flagship programmes of the Government, to address the declining Child Sex Ratio and related issues of empowerment of women on a life-cycle continuum. It is a tri-ministerial, convergent effort of Ministries of Women and Child Development, Health & Family Welfare and Human Resource Development with a focus on awareness and advocacy campaign for changing mindsets, multi-sectoral action in select 161 districts (low on CSR), enabling girls’ education and effective enforcement of Pre-Conception & Pre Natal Diagnostic Techniques (PC&PNDT) Act. The Scheme has been received well and has been successful in establishing the improvement in Child Sex Ratio as a National Agenda. It has resulted in increased awareness, sensitization and conscious building around the issue of declining CSR in the public domain. [7]

  5.Pradhan Mantri Jan-Dhan Yojana (PMJDY)

The Prime Minister’s Jan Dhan Yojana (PMJDY) is a financial inclusion programme that makes services like banking, remittance and insurance available to every Indian at affordable cost. Beneficiaries can open a zero-balance account. As of August 16, 2017, 295 million new bank accounts had been opened under the PMJDY. More than 176 million of these accounts are in rural India, and around 145 million are operated by women. [8]

PM Modi’s flagship financial inclusion scheme, Pradhan Mantri Jan-Dhan Yojana, aims to ensure access to financial services such as banking, savings and deposit accounts, remittance, credit, insurance, pension in an affordable manner. Launched in august 2014, the objective of this scheme was to connect more and more number of people to banking services. Under this scheme, 31.60 crore people across India opened a Jan-Dhan account as of May 9, 2018. By far, the PMJDY has emerged as one of the world’s largest financial inclusion programmes. Special benefits under PMJDY Scheme include accidental insurance cover of Rs 1 lakh, no minimum balance requirement and a life cover of Rs 30,000 payable on death of the beneficiary. The PMJDY has emerged as one of the world’s largest financial inclusion programmes. [9]

    6.Prime Minister Ujjwala Plan/ Pradhan Mantri Ujjwala Yojana (PMUY)

Launched on May 1, 2016, its aim was to provide the LPG connection to BPL families at subsidized rates. Under the PM Ujjwala Yojana, the government aims to provide LPG connections to below poverty line (BPL) households in the country to replace unclean cooking fuels used in rural India with the clean and more efficient LPG (Liquefied Petroleum Gas). Earlier this year, the Centre had revised its target to provide LPG connections to eight crore from five crore. Nearly four crore (3,98,77,723) connections have been given under the scheme so far, about 80 lakh of them in the past five months. [10]

    7. Deen Dayal Upadhyaya Gram Jyoti Yojana (DDUGJY)

The idea of electrifying every village in India was conveyed by PM Modi in his August 15 speech in 2015 where he promised electrification all un-electrified villages within 1,000 days. As per government records, by April 1, 2015, India had about 18,452 unelectrified villages. The task to electrify the remaining villages was completed in 988 days as on April 28, 2018 as electricity reached Manipur’s Leisang village after over 70 years of Independence under the Deen Dayal Upadhyaya Gram Jyoti Yojana (DDUGJY). The Prime Minister, however, launched a Rs 16,320-crore Pradhan Mantri Sahaj Bijli Har Ghar Yojana, or Saubhagya scheme to provide electricity connections to over 40 million families in rural and urban areas by December 2018. Out of the set target to provide electricity connection to 3,80,23,012 households, the government has so provided electricity connection to 61,89,812 houses as on May 25, 2018. [11]

Aimed at providing round the clock power to rural households and adequate power to agricultural consumers, the DDUGJY involved feeder separation, strengthening of sub-transmission and the distribution network, metering at all levels, village electrification, and setting up micro-grid and off-grid distribution networks. [12]

    8. Ayushman Bharat

The Ayushman Bharat Yojana is also known as Pradhan Mantri Jan Arogya Yojana (PMJAY) or National Health Protection Scheme or Modicare. Ayushman Bharat aims to provide healthcare facilities to over 10 crore families covering urban and rural poor. PMJAY-Ayushman Bharat is the biggest government-sponsored healthcare scheme in the world. The scheme offers an insurance cover of Rs 5 lakh, which will cover almost 50 crore citizens. [13]

Its no longer the case that there is an absence of healthcare facilities for the poor in the country. As Modi always states “Govt. schemes and policies are for the poor of the country.” The sole motto of this scheme is to covering both preventive and pro-motive health, to address healthcare holistically. [14]

Ayushman Bharat is Narendra Modi government’s flagship healthcare scheme that aims to provide medical coverage to over 10 crore poor families. The Narendra Modi government has received appreciation from the billionaire philanthropist Bill Gates on the first 100 days of the Ayushman Bharat Scheme. Gates also congratulated the government for providing healthcare benefits to 6.85 lakh people in such a short span of time. In his tweet, Gates wrote, “Congratulations to the Indian government on the first 100 days of @AyushmanNHA. It’s great to see how many people have been reached by the program so far. @PMOIndia” [15]

    9. Pradhan Mantri Kisan Samman Nidhi

Pradhan Mantri Kisan Samman Nidhi is an initiative by the government of India in which 120 million small and marginal farmers who have less than 2 hectares (4.9 acres) of landholding will get up to ₹6,000 (US$87) per year as minimum income support. The initiative was announced by Piyush Goyal during the 2019 Interim Union Budget of India on 1 February 2019. The PM-KISAN scheme aims to supplement the financial needs of the SMFs in procuring various inputs to ensure proper crop health and appropriate yields, commensurate with the anticipated farm income at the end of the each crop cycle. 

      10. Khelo India

Aim was to promote sports in youth. Thus the proposal of Khelo India was something of a fresh breath in the stale air that had settled around Olympic sports in India. To the apparent eye, the success of the Khelo India School Games has been immense with a viewership of over 100 million and participation of over 3000 young athletes.

Until the inaugural KISG took place in January, there was almost no specific scouting of talented athletes in India but for the SAI National Sports Talent Contest. The appointment of a sports icon and India’s first ever Individual Silver medallist brought with it a promise of setting things rolling in the right direction.

The objective of the KISG was to help India’s youth develop into a contender in international sporting events by helping them with funds, coaching, top-notch infrastructure, raising awareness regarding the importance of physical fitness, encouraging the development of women’s sport and so on. The Games were spread over 16 disciplines which are Archery, Athletics, Badminton, Basketball, Boxing, Football, Gymnastics, Hockey, Judo, Kabaddi, Kho-Kho, Shooting, Swimming, Volleyball, Weightlifting, and Wrestling.

The sports budget received a considerably large hike in the 2018 budget, a total of Rs 1943 crore. The initial money that was alloted for Khelo India was Rs. 140 crores. But after the latest developments, the budget has been increased to Rs 350 crores. These have been some shortcomings of the Khelo India School Games that are a shade difficult to ignore. However, there is no denying that this was still a step forward, irrespective of big or small. [17]

    Sources:

[1]http://bit.ly/2ZhLR4b

[2]http://bit.ly/2ZhLR4b

[3]http://bit.ly/2F3VlIK

[4]http://bit.ly/2APaHP2

[5]http://bit.ly/2ZhLR4b

[6] http://bit.ly/2F4wJiX

[7] http://bit.ly/2ZhfbYD

[8] http://bit.ly/2F4wJiX

[9]http://bit.ly/2F0Gm2c

[10]http://bit.ly/2F3VlIK

[11] ibid.

[12]http://bit.ly/2ZjMwC9

[13]https://economictimes.indiatimes.com/articleshow/65920546.cms?from=mdr&utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst.html

[14] http://bit.ly/2QlgMYM

[15]http://bit.ly/2APaHP2

[16] http://bit.ly/2Zpnuln

[17] http://bit.ly/2F2tzMQ

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[business2businessposts-blog]

Recent Initiatives To Boost Start-Ups And Entrepreneurship In India

New startups in india companies are new businesses that are implemented either by one individual or in groups. It appears that it is the entrepreneurs who run these newly established companies, which means that there are enormous risks in terms of financial problems, as well as the creation of innovative and successful products or services.

Newly created companies are inherently risky, but a successful entrepreneur tries to reduce risk and promote entrepreneurial spirit through in-depth research, appropriate planning and development of appropriate skills. One of the key characteristics of being a successful entrepreneur is their flexibility in adapting to modern trends, market growth, modern techniques, dynamic rules and financial environments.

“If we really want to create jobs, we have to make India an investment destination, allowing a business to start in accordance with the guidelines and standards set for the public,” said current finance minister Aaron Gaitley.

The Minister of Foreign Affairs has clearly proposed that he appoint a special committee to oversee the possibility of replacing existing multilayered permits that can be replaced by a set of pre-existing mechanisms that can facilitate the ease of doing business for entrepreneurs in India. Keeping the promise online, the government formed a committee on 7 April 2015 by the Ministry of Industrial Policy and Promotion (DIPP) to simplify regulations and ease of doing business.

Over the years, entrepreneurship has proved to be important for India’s growth and development, given its growing importance and clear impact on wealth creation and job creation. According to the EY G20 Business Entrepreneurship Report 2013 “Three Power: Governments, Business and Companies Can Motivate Growth Across the G20”, India ranks 11th out of the G20 in the Finance Access category. During the survey, 66 per cent of Indian entrepreneurs said access to private capital had improved over the three-year period 2008–2010.

In the 11th place of business culture, 69% of entrepreneurs said that the Indian environment promotes corporate culture, compared to 57% among the G-20 countries. Taxation and regulation of business in India is not favorable and the country ranked 19th among the G20.

New startups in India With regard to entrepreneurship education and training, India ranks last, but 70 per cent of local entrepreneurs feel that access to informal training networks has increased over the three-year period. About 70 per cent of entrepreneurs reported an improvement in coordinated support (through informal business networks) and ranked fifth in this category

World Bank statistics on India are not very promising for start-ups and entrepreneurs. Prime Minister Narendra Moody aims to improve India’s ranking to the top 50 countries since 142 in the World Bank’s ranking on ease of doing business. But other reports such as — the NASSCOM 2014 start-up report looks promising and very stimulating. According to this report, India is the fastest growing and third largest home base ecosystem after the United States alone. UU. And the United Kingdom.

The most prominent reports claim that India is home to more than 3,100 emerging companies, the third largest in the world. Each year, startup venture more than 800 new companies are created in India, and by 2020, 11,500 new companies will be employed employing about 250,000 people. The report also notes that more than 20 mergers and acquisitions over the past three years have been worth US $ 1 trillion.

The upward trend of emerging companies in India can be analyzed in several ways. One of which is the advantage of India’s demographic gains at the moment, which it will enjoy over the next decade, if properly managed. In addition, the global macroeconomic environment in the development of the correction will be reflected in the economic environment in India; after all is a connected world now.

India has always relied on the growth of the service sector and the success of IT companies and ITES, which have achieved a mark in the international markets, a great source of new corporate rules such as new technology companies, The number of people using simple technology in India, trending startup news such as smart phones with Internet access, is among the highest in the world. This provides a great opportunity for new entrepreneurial minds in different areas of new businesses. The government must encourage and support a comprehensive ecosystem to initiate support initiatives to move the story forward.

Following are some of the measures taken by the current government of the NDA to promote entrepreneurship in India, especially startups:

Bank Molds

The allocation of Rs. 20000 million to the Refinance Agency Bank to develop small units (MUDRA) for the SME sector, will improve credit facilities to promote the growth of small businesses and manufacturing units. It also allocated one billion rupees to support new companies. Mudra Bank was launched on 8 April 2015; it will provide a credit of up to 10 lakh to small entrepreneurs. The positive news is that the bank started last month with the beneficiaries who received the required assistance.

The “Made in India” government initiative and its move to expand manufacturing to India’s GDP have the power to transform the fate of small, medium and small enterprises (MSMEs) into the country. In addition, focusing on Digital India and Swachch Bharat Abhiyan, the industry will gain momentum.

Ministry of Skills Development and Entrepreneurship

This is the first time that the State Department has been given the responsibility to develop entrepreneurship in the country, although this task has been carried out by multiple departments and agencies. The UPA Government has experienced the development of entrepreneurial skills in the departments of MIPYME (Ministry of Micro, Small and Medium Enterprises), implemented by the National Aviation Administration within the scope of the National Agency for Skills Development.

The introduction by the Federal Ministry of Entrepreneurship Development and Skills Development shows that Mr. Moody takes seriously the development and promotion of new entrepreneurial projects in contemporary times of the current economies. By 2022, India has focused on developing the skills of about 500 million people, mainly by encouraging private players to provide initiatives for skills development programs and financing feasibility gaps. With this objective in mind, with the help of private sector actors, the function of ministries is to implement the objectives and also to establish an ecosystem that ensures ease of doing business and promoting entrepreneurship by eliminating bottlenecks during the process.

A € 10,000 million fund for venture capital in the SME sector.

The 10 billion rupiah initiative is to accelerate the investment of private companies in the name of “capital, equities, soft loans and other venture capital” to create an appropriate venture capital environment in the SME sector. In countries such as the United States, public finance in the UK, Israel and Singapore is the main source of finance in the growing ecosystems of new businesses. We believe that the current government will learn lessons from these countries. This fund guides venture capital to much needed areas, but the majority suffers from shortages: research, technology marketing, product development, etc.

Incubation and acceleration program at the district level

The “county-level nursery and accelerator program” throughout the country will be a good start to generating new ideas and promoting entrepreneurship with all the necessary support. However, trending startup news it is a positive program, but incubators are not a single monster. Many companies offer services through different types of incubators. Therefore, a broad and acceptable classification at the national level is needed to understand the unique resource requirements of each group of incubators to address their difficulties and ways of success.

[dayallegal-blog]

FUNDING OPTIONS AVAILABLE FOR A START-UP

According to a recent study, over 94% of new businesses fail during first year of operation. Lack of funding turns to be one of the common reasons. Money is the bloodline of any business. The long painstaking yet exciting journey from the idea to revenue generating business needs a fuel named capital. Now, when would you require funding depends largely on the nature and type of the business. But once you have realized the need for fund raising, below are some of the different sources of finance available. Here is a comprehensive guide that lists 10 funding options for startups that will help you raise capital for your business. Some of these funding options are for Indian business; however, similar alternatives are available in different countries.

1) Bootstrapping your startup business:

Self-funding, also known as bootstrapping, is an effective way of startup financing, especially when you are just starting your business. First-time entrepreneurs often have trouble getting funding without first showing some traction and a plan for potential success. You can invest from your own savings or can get your family and friends to contribute. This will be easy to raise due to less formalities/compliances, plus less costs of raising. In most situations, family and friends are flexible with the interest rate.

Self-funding or bootstrapping should be considered as a first funding option because of its advantages. When you have your own money, you are tied to business. On a later stage, investors consider this as a good point. But this is suitable only if the initial requirement is small. Some businesses need money right from the day-1 and for such businesses, bootstrapping may not be a good option.

  2) Crowdfunding as a Funding Option:

Crowdfunding is one of the newer ways of funding a startup that has been gaining lot of popularity lately. It’s like taking a loan, pre-order, contribution or investments from more than one person at the same time.

This is how crowdfunding works – An entrepreneur will put up a detailed description of his business on a crowdfunding platform. He will mention the goals of his business, plans for making a profit, how much funding he needs and for what reasons, etc. and then consumers can read about the business and give money if they like the idea. Those giving money will make online pledges with the promise of pre-buying the product or giving a donation. Anyone can contribute money toward helping a business that they really believe in.

Why you should consider Crowdfunding as a funding option for your business: The best thing about crowd funding is that it can also generate interest and hence helps in marketing the product alongside financing. It is also a boon if you are not sue if there will be any demand for the product you are working on. This process can cut out professional investors and brokers by putting funding in the hands of common people. It also might attract venture-capital investment down the line if a company has a particularly successful campaign.

Also keep in mind that crowdfunding is a competitive place to earn funding, so unless your business is absolutely rock solid and can gain the attention of the average consumers through just a description and some images online, you may not find crowdfunding to work for you in the end.

  3) Get Angel Investment In Your Startup:

In an angel network, initially the business plan is seen by all the members briefly and a subset of the members may agree to finance the business. Each member puts in a relatively small amount but given adequate numbers the venture receives adequate financing. The angel network allows various 'angels' to coordinate their activities informally. The credibility of each angel becomes quite important and, therefore, each potential new member has to have the approval of all old members before he is admitted into the network.

Angel investors are individuals with surplus cash and a keen interest to invest in upcoming startups. They also work in groups of networks to collectively screen the proposals before investing. They can also offer mentoring or advice alongside capital.

Angel investors have helped to start up many prominent companies, including Google, Yahoo and Alibaba. This alternative form of investing generally occurs in a company’s early stages of growth, with investors expecting a upto 30% equity. They prefer to take more risks in investment for higher returns.

Angel Investment as a funding option has its shortcomings too. Angel investors invest lesser amounts than venture capitalists 

  4) Get Venture Capital For Your Business:

This is where you make the big bets. Venture capitals are professionally managed funds who invest in companies that have huge potential. They usually invest in a business against equity and exit when there is an IPO or an acquisition. VCs provide expertise, mentorship and acts as a litmus test of where the organisation is going, evaluating the business from the sustainability and scalability point of view.

A venture capital investment may be appropriate for small businesses that are beyond the startup phase and already generating revenues. Fast-growth companies like Flipkart, Uber, etc with an exit strategy already in place can gain up to tens of millions of dollars that can be used to invest, network and grow their company quickly.

However, there are a few downsides to Venture Capitalists as a funding option. VCs have a short leash when it comes to company loyalty and often look to recover their investment within a three- to five-year time window. If you have a product that is taking longer than that to get to market, then venture-capital investors may not be very interested in you.

They typically look for larger opportunities that are a little bit more stable, companies having a strong team of people and a good traction. You also have to be flexible with your business and sometimes give up a little bit more control, so if you’re not interested in too much mentorship or compromise, this might not be your best option.

  5) Get Funding From Business Incubators & Accelerators:

Early stage businesses can consider Incubator and Accelerator programs as a funding option. Found in almost every major city, these programs assist hundreds of startup businesses every year.

Though used interchangeably, there are few fundamental differences between the two terms. Incubators are like a parent to a child, who nurtures the business providing shelter tools and training and network to a business. Accelerators so more or less the same thing, but an incubator helps/assists/nurtures a business to walk, while accelerator helps to run/take a giant leap.

These programs normally run for 4-8 months and require time commitment from the business owners. You will also be able to make good connections with mentors, investors and other fellow startups using this platform.

  6) Raise Funds By Winning Contests:

An increase in the number of contests has tremendously helped to maximize the opportunities for fund raising. It encourages entrepreneurs with business ideas to set up their own businesses. In such competitions, you either have to build a product or prepare a business plan.

Winning these competitions can also get you some media coverage. You need to make your project stand out in order to improve your success in these contests. You can either present your idea in person or pitch it through a business plan. It should be comprehensive enough to convince anyone that your idea is worth investing in.

  7) Raise Money Through Bank Loans:

Normally, banks are the first place that entrepreneurs go when thinking about funding.

The bank provides two kinds of financing for businesses. One is working capital loan, and other is funding. Working Capital loan is the loan required to run one complete cycle of revenue generating operations, and the limit is usually decided by hypothecating stocks and debtors. Funding from bank would involve the usual process of sharing the business plan and the valuation details, along with the project report, based on which the loan is sanctioned.

Almost every bank in India offers SME finance through various programs. For instance, leading Indian banks – Bank Of Baroda, HDFC, ICICI and Axis banks have more than 7-8 different options to offer collateral free business loans. Check out the respective bank sites for more details.

In US, sites like Kabbage can help you get working capital loan online in minutes. Unlike traditional lenders, Kabbage approve small business loans by looking at real-life data, not just a credit score.

  8) Get Business Loans From Microfinance Providers or NBFCs

What do you do when you can’t qualify for a bank loan? There is still an option. Microfinance is basically access of financial services to those who would not have access to conventional banking services. It is increasingly becoming popular for those whose requirements are limited and credit ratings not favoured by bank.

Similarly, NBFCs are Non Banking Financial Corporations are corporations that provide Banking services without meeting legal requirement/definition of a bank.

  9) Govt Programs That Offer Startup Capital:

The Government of India has launched 10,000 Crore Startup Fund in Union budget 2014-15 to improve startup ecosystem in India. In order to boost innovative product companies, Government has launched ‘Bank Of Ideas and Innovations’ program.

 Government backed ‘Pradhan Mantri Micro Units Development and Refinance Agency Limited (MUDRA)‘ starts with an initial corpus of Rs. 20,000 crore to extend benefits to around 10 lakhs SMEs. You are supposed to submit your business  plan and once approved, the loan gets sanctioned. You get a MUDRA Card, which is like a credit card, which you can use to purchase raw materials, other expenses etc. Shishu, Kishor and Tarun are three categories of loans available under the promising scheme. 

 Also, different states have come up different programs like Kerala State Self Entrepreneur Development Mission (KSSEDM), Maharashtra Centre for Entrepreneurship Development, Rajasthan Startup Fest, etc to encourage small businesses.

SIDBI – Small Industries Development Bank Of India also offer business loans to MSME sector.

In US, there is a small business lending fund and dedicated portal for Government grants available for local businesses.

 If you comply with the eligibility criteria, Government grants as a funding option could be one of the best. You just need to make yourself aware of the various Government initiatives.

10) Quick Ways to Raise Money For Your Business

There are few more ways to raise funds for your business. However, these might not work for everyone. Still, check them out if you need quick funds.

Product Pre-sale: Selling your products before they launch is an often-overlooked and highly effective way to raise the money needed for financing your business. Remember how Apple & Samsung start pre-orders of their products well ahead of the official launch? Its a great way to improve cash flow and prepare yourself for the consumer demand.

Selling Assets: This might sound like a tough step to take but it can help you meet your short term fund requirements. Once you overcome the crisis situation, you can again buy back the assets.

Credit Cards: Business credit cards are among the most readily available ways to finance a startup and can be a quick way to get instant money. If you are a new business and don’t have a tons of expenses, you can use a credit card and keep paying the minimum payment. However, keep in mind that the interest rates and costs on the cards can build very quickly, and carrying that debt can be detrimental to a business owner’s credit.

   Author Name

DEEPAK DAYAL

(MBA, LLB) | Managing Partner, Dayal Legal Associates .India. Advocate, Supreme Court Of India. 

Skype: deepak@dayallegal.in 

http://www.dayallegal.in M : +919560732244 O:   +919069113331

[hellotaxindia-blog]

4E (End to End Energy Efficiency) Launched in: September 2016

Headed by: Small Industries Development Bank of India (SIDBI)

Industry: Sector-agnostic

Eligibility: MSME startups in the manufacturing or services sector that have been operating for at least three years and have earned cash profits in the last two years are eligible for the loan. Here are the specific eligibility criteria.

The startup should not be in default with any bank/financial institutions It should have undergone a process of detailed energy audit (DEA) through a technical agency/consultant that is a Bureau of Energy Efficiency (BEE)-certified energy auditor The detailed project report (DPR) prepared by the technical agency/consultant should have been vetted by the Energy Efficiency Cell (EEC), SIDBI The unit should not have availed a performance linked grant under the World Bank-Global Environment Facility (WB-GEF) Project for the proposed energy efficiency (EE) Project and should be in compliance with the Environment and Social Management Framework Overview: This MSME scheme for entrepreneurs has been launched jointly by India SME Technology Services Ltd (ISTSL) in association with World Bank. The main objective is to implement energy efficiency measures across Indian industries on an end-to-end basis. Also, it aims to help startups finance purchases of second-hand machinery/equipment.

The business loans for startups under this scheme meet part costs of:

capital expenditure, including for the purchase of equipment/machinery, installation, civil works, commissioning, etc. any other related expenditure required by the unit provided it is not more than 50% of capital expenditure. Fiscal incentives under the 4E scheme:

The MSME startup has to pay only INR 30,000 and applicable taxes and the balance fee will be paid by SIDBI to auditors Up to 90% of the project cost with a minimum loan amount of INR 10 Lakh and a maximum loan amount not exceeding INR 150 Lakh per eligible borrower can be granted under this scheme. Eligible loan amount should not exceed one-fifth of the total turnover of the applicant unit. Time period: The repayment period, including the initial moratorium period of up to six months, shall not be more than 36 months for loans up to INR 100 Lakh and 60 months for loans beyond INR 100 Lakh.

Bank Credit Facilitation Scheme Launched in: NA

Headed by: National Small Industries Corporation (NSIC)

Industry: Sector-agnostic

Eligibility: MSMEs registered in India

Overview: The scheme aims to meet the credit requirements of MSME units. The NSIC has entered into a MoU with various nationalised and private sector banks for the purpose. Through syndication with these banks, the NSIC arranges for credit support (fund- or non-fund-based limits) from banks without any cost to MSMEs.

Fiscal incentives: NA

Time period: The repayment period varies depending on the income generated from the startup and generally extends from five to seven years. However, in exceptional cases, it can go up to to 11 years.

Credit Guarantee Scheme (CGS) Headed by: Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE)

Industry: Sector-agnostic

Eligibility: The scheme is applicable to new and existing MSMEs engaged in manufacturing or service activities, excluding retail trade, educational institutions, agriculture, self-help groups (SHGs), training institutions, etc.

Overview: The Credit Guarantee Scheme was launched by the government to strengthen the credit delivery system and to facilitate the flow of credit to the MSME sector. The lending institutions under this scheme mainly include public, private, and foreign banks, along with regional rural banks and the SBI and its associate banks.

Fiscal incentives: This MSME scheme for entrepreneurs comes with a number of benefits, including term loans and/or working capital loan facility up to INR 200 Lakh per borrowing unit. Here are some more details of the scheme:

The guarantee cover provided is up to 75% of the credit facility up to INR 150 Lakh 85% of credit facility for loans up to INR 5 Lakh is provided to micro-enterprises 80% of credit facility for MSMEs owned/operated by women and all loans to NER including Sikkim

source https://inc42.com/features/10-business-loans-for-startups-and-msmes-by-the-indian-government/

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NDA Govt’s Top 10 Welfare Schemes

This article could have had the scope of speculating whether the success of the NDA govt. schemes would lead to its victory in the much-awaited 2019 Lok Sabha Elections, if only this article was written earlier in time. Now, the air is clear, the parliamentary election in world’s largest democracy has ended and the people have given their verdict in favour of the Modi-led NDA, yet again. There will always be naysayers, but believe it or not, the Indian PM has one of the largest followings, ever. It’s not just his attitude, style, personality, or oratory skills that has garnered him so much love, fandom, believers, followers, and yay-sayers, its also the policies and schemes being brought around during his leadership and tenure at the prestigious office, that has reaped him so many praises. As we are stepping into whats being called as the second era of Narendra Modi Government, or simply “Modi 2.0”, lets have a brief look at the top 10 welfare schemes of the Government of the day.

  1. Pradhan Mantri MUDRA Yojana (PMMY)

Pradhan Mantri MUDRA Yojana (PMMY) is a scheme launched by the Hon’ble Prime Minister on April 8, 2015 for providing loans upto 10 lakh to the non-corporate, non-farm small/micro enterprises. These loans are classified as MUDRA loans under PMMY. These loans are given by Commercial Banks, RRBs, Small Finance Banks, Cooperative Banks, MFIs and NBFCs. The borrower can approach any of the lending institutions mentioned above or can apply online through this portal. Under the aegis of PMMY, MUDRA has created three products namely ‘Shishu’, ‘Kishore’ and ‘Tarun’ to signify the stage of growth / development and funding needs of the beneficiary micro unit / entrepreneur and also provide a reference point for the next phase of graduation / growth.

  2. Swachh Bharat Mission (SBM)

Cleanliness is next to Godliness. The Prime Minister launched his pet project for a clean India on Mahatma Gandhi’s birth anniversary October 2, 2014. The PM roped in prominent personalities from the film industry, sports, media, business and other celebrities to promote the initiative. [2] there is also a swacchta sarvekshan been conducted time to time to adjudge the cleanest cities positions rank-wise; Indore in Madhya Pradesh has topped the list the third time as well.

PM Modi’s flagship sanitation campaign in India that aims to build toilets and clean up streets, roads and infrastructure of India’s cities, towns and rural areas. In urban areas, over 46 lakh individual toilets have been constructed out of nearly 94 lakh application received for toilet construction. Total community and public toilets stood at 3.1 lakh and the number of open defecation free (ODF) cities clocked at 2,212 as of May 24, 2018. In the rural areas, over 7.2 crore toilets have been constructed across all villages in India compared to 9.5 crore households that do not have toilets. More than 60 percent of the rural households in all sates are reported to have toilets except Odisha (55 percent) and Bihar (55.1 percent). Out of the 3.6 lakh villages which self-declared open defecation free (ODF), 2.5 lakh declarations have been verified. [3]

In October 2014, Bill Gates had praised Prime Minister Narendra Modi’s emphasis on building more toilets in the country. “Narendra Modi has India talking about toilets and that’s a great thing,” Gates said in a tweet which was retweeted by Modi. On his blog, Gates said, “This is not the kind of issue that most politicians like to talk about. But I would guess that in the short time he has been in office, Prime Minister Modi has done more to raise the awareness of the need for toilets than any other leader since the country gained independence“. [4]

  3. Pradhan Mantri Kaushal Vikas Yojana (PMKVY)

Pradhan Mantri Kaushal Vikas Yojana (PMKVY) is the flagship scheme of the Ministry of Skill Development & Entrepreneurship (MSDE) implemented by National Skill Development Corporation. The objective of this Skill Certification Scheme is to enable a large number of Indian youth to take up industry-relevant skill training that will help them in securing a better livelihood. Individuals with prior learning experience or skills will also be assessed and certified under Recognition of Prior Learning (RPL).

  4.Beti Bachao – Beti Padhao

“When you educate a man, you educate a man but when you educate a woman, you educate a generation”.  With an objective to generate awareness and to improve the welfare services provided to women, on January 25, 2015, Modi launched the Beti Bachao, Beti Padhao campaign. The focus was laid on 100 selected districts that are low in Child Sex Ratio (CSR) for safeguarding the survival and education of a girl child.  Beti Bachao, Beti Padhao (BBBP) was launched by the Hon’ble Prime Minister, Shri Narendra Modi, on 22nd January, 2015 in Panipat, Haryana as one of the flagship programmes of the Government, to address the declining Child Sex Ratio and related issues of empowerment of women on a life-cycle continuum. It is a tri-ministerial, convergent effort of Ministries of Women and Child Development, Health & Family Welfare and Human Resource Development with a focus on awareness and advocacy campaign for changing mindsets, multi-sectoral action in select 161 districts (low on CSR), enabling girls’ education and effective enforcement of Pre-Conception & Pre Natal Diagnostic Techniques (PC&PNDT) Act. The Scheme has been received well and has been successful in establishing the improvement in Child Sex Ratio as a National Agenda. It has resulted in increased awareness, sensitization and conscious building around the issue of declining CSR in the public domain. [7]

  5.Pradhan Mantri Jan-Dhan Yojana (PMJDY)

The Prime Minister’s Jan Dhan Yojana (PMJDY) is a financial inclusion programme that makes services like banking, remittance and insurance available to every Indian at affordable cost. Beneficiaries can open a zero-balance account. As of August 16, 2017, 295 million new bank accounts had been opened under the PMJDY. More than 176 million of these accounts are in rural India, and around 145 million are operated by women. [8]

PM Modi’s flagship financial inclusion scheme, Pradhan Mantri Jan-Dhan Yojana, aims to ensure access to financial services such as banking, savings and deposit accounts, remittance, credit, insurance, pension in an affordable manner. Launched in august 2014, the objective of this scheme was to connect more and more number of people to banking services. Under this scheme, 31.60 crore people across India opened a Jan-Dhan account as of May 9, 2018. By far, the PMJDY has emerged as one of the world’s largest financial inclusion programmes. Special benefits under PMJDY Scheme include accidental insurance cover of Rs 1 lakh, no minimum balance requirement and a life cover of Rs 30,000 payable on death of the beneficiary. The PMJDY has emerged as one of the world’s largest financial inclusion programmes. [9]

    6.Prime Minister Ujjwala Plan/ Pradhan Mantri Ujjwala Yojana (PMUY)

Launched on May 1, 2016, its aim was to provide the LPG connection to BPL families at subsidized rates. Under the PM Ujjwala Yojana, the government aims to provide LPG connections to below poverty line (BPL) households in the country to replace unclean cooking fuels used in rural India with the clean and more efficient LPG (Liquefied Petroleum Gas). Earlier this year, the Centre had revised its target to provide LPG connections to eight crore from five crore. Nearly four crore (3,98,77,723) connections have been given under the scheme so far, about 80 lakh of them in the past five months. [10]

    7. Deen Dayal Upadhyaya Gram Jyoti Yojana (DDUGJY)

The idea of electrifying every village in India was conveyed by PM Modi in his August 15 speech in 2015 where he promised electrification all un-electrified villages within 1,000 days. As per government records, by April 1, 2015, India had about 18,452 unelectrified villages. The task to electrify the remaining villages was completed in 988 days as on April 28, 2018 as electricity reached Manipur’s Leisang village after over 70 years of Independence under the Deen Dayal Upadhyaya Gram Jyoti Yojana (DDUGJY). The Prime Minister, however, launched a Rs 16,320-crore Pradhan Mantri Sahaj Bijli Har Ghar Yojana, or Saubhagya scheme to provide electricity connections to over 40 million families in rural and urban areas by December 2018. Out of the set target to provide electricity connection to 3,80,23,012 households, the government has so provided electricity connection to 61,89,812 houses as on May 25, 2018. [11]

Aimed at providing round the clock power to rural households and adequate power to agricultural consumers, the DDUGJY involved feeder separation, strengthening of sub-transmission and the distribution network, metering at all levels, village electrification, and setting up micro-grid and off-grid distribution networks. [12]

    8. Ayushman Bharat

The Ayushman Bharat Yojana is also known as Pradhan Mantri Jan Arogya Yojana (PMJAY) or National Health Protection Scheme or Modicare. Ayushman Bharat aims to provide healthcare facilities to over 10 crore families covering urban and rural poor. PMJAY-Ayushman Bharat is the biggest government-sponsored healthcare scheme in the world. The scheme offers an insurance cover of Rs 5 lakh, which will cover almost 50 crore citizens. [13]

Its no longer the case that there is an absence of healthcare facilities for the poor in the country. As Modi always states “Govt. schemes and policies are for the poor of the country.” The sole motto of this scheme is to covering both preventive and pro-motive health, to address healthcare holistically. [14]

Ayushman Bharat is Narendra Modi government’s flagship healthcare scheme that aims to provide medical coverage to over 10 crore poor families. The Narendra Modi government has received appreciation from the billionaire philanthropist Bill Gates on the first 100 days of the Ayushman Bharat Scheme. Gates also congratulated the government for providing healthcare benefits to 6.85 lakh people in such a short span of time. In his tweet, Gates wrote, “Congratulations to the Indian government on the first 100 days of @AyushmanNHA. It’s great to see how many people have been reached by the program so far. @PMOIndia” [15]

    9. Pradhan Mantri Kisan Samman Nidhi

Pradhan Mantri Kisan Samman Nidhi is an initiative by the government of India in which 120 million small and marginal farmers who have less than 2 hectares (4.9 acres) of landholding will get up to ₹6,000 (US$87) per year as minimum income support. The initiative was announced by Piyush Goyal during the 2019 Interim Union Budget of India on 1 February 2019. The PM-KISAN scheme aims to supplement the financial needs of the SMFs in procuring various inputs to ensure proper crop health and appropriate yields, commensurate with the anticipated farm income at the end of the each crop cycle. 

      10. Khelo India

Aim was to promote sports in youth. Thus the proposal of Khelo India was something of a fresh breath in the stale air that had settled around Olympic sports in India. To the apparent eye, the success of the Khelo India School Games has been immense with a viewership of over 100 million and participation of over 3000 young athletes.

Until the inaugural KISG took place in January, there was almost no specific scouting of talented athletes in India but for the SAI National Sports Talent Contest. The appointment of a sports icon and India’s first ever Individual Silver medallist brought with it a promise of setting things rolling in the right direction.

The objective of the KISG was to help India’s youth develop into a contender in international sporting events by helping them with funds, coaching, top-notch infrastructure, raising awareness regarding the importance of physical fitness, encouraging the development of women’s sport and so on. The Games were spread over 16 disciplines which are Archery, Athletics, Badminton, Basketball, Boxing, Football, Gymnastics, Hockey, Judo, Kabaddi, Kho-Kho, Shooting, Swimming, Volleyball, Weightlifting, and Wrestling.

The sports budget received a considerably large hike in the 2018 budget, a total of Rs 1943 crore. The initial money that was alloted for Khelo India was Rs. 140 crores. But after the latest developments, the budget has been increased to Rs 350 crores. These have been some shortcomings of the Khelo India School Games that are a shade difficult to ignore. However, there is no denying that this was still a step forward, irrespective of big or small. [17]

    Sources:

[1]http://bit.ly/2ZhLR4b

[2]http://bit.ly/2ZhLR4b

[3]http://bit.ly/2F3VlIK

[4]http://bit.ly/2APaHP2

[5]http://bit.ly/2ZhLR4b

[6] http://bit.ly/2F4wJiX

[7] http://bit.ly/2ZhfbYD

[8] http://bit.ly/2F4wJiX

[9]http://bit.ly/2F0Gm2c

[10]http://bit.ly/2F3VlIK

[11] ibid.

[12]http://bit.ly/2ZjMwC9

[13]https://economictimes.indiatimes.com/articleshow/65920546.cms?from=mdr&utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst.html

[14] http://bit.ly/2QlgMYM

[15]http://bit.ly/2APaHP2

[16] http://bit.ly/2Zpnuln

[17] http://bit.ly/2F2tzMQ

NDA Govt’s Top 10 Welfare Schemes published first on https://immigrationlawyerto.tumblr.com/

[marymosley]

NDA Govt’s Top 10 Welfare Schemes

This article could have had the scope of speculating whether the success of the NDA govt. schemes would lead to its victory in the much-awaited 2019 Lok Sabha Elections, if only this article was written earlier in time. Now, the air is clear, the parliamentary election in world’s largest democracy has ended and the people have given their verdict in favour of the Modi-led NDA, yet again. There will always be naysayers, but believe it or not, the Indian PM has one of the largest followings, ever. It’s not just his attitude, style, personality, or oratory skills that has garnered him so much love, fandom, believers, followers, and yay-sayers, its also the policies and schemes being brought around during his leadership and tenure at the prestigious office, that has reaped him so many praises. As we are stepping into whats being called as the second era of Narendra Modi Government, or simply “Modi 2.0”, lets have a brief look at the top 10 welfare schemes of the Government of the day.

  1. Pradhan Mantri MUDRA Yojana (PMMY)

Pradhan Mantri MUDRA Yojana (PMMY) is a scheme launched by the Hon’ble Prime Minister on April 8, 2015 for providing loans upto 10 lakh to the non-corporate, non-farm small/micro enterprises. These loans are classified as MUDRA loans under PMMY. These loans are given by Commercial Banks, RRBs, Small Finance Banks, Cooperative Banks, MFIs and NBFCs. The borrower can approach any of the lending institutions mentioned above or can apply online through this portal. Under the aegis of PMMY, MUDRA has created three products namely ‘Shishu’, ‘Kishore’ and ‘Tarun’ to signify the stage of growth / development and funding needs of the beneficiary micro unit / entrepreneur and also provide a reference point for the next phase of graduation / growth.

  2. Swachh Bharat Mission (SBM)

Cleanliness is next to Godliness. The Prime Minister launched his pet project for a clean India on Mahatma Gandhi’s birth anniversary October 2, 2014. The PM roped in prominent personalities from the film industry, sports, media, business and other celebrities to promote the initiative. [2] there is also a swacchta sarvekshan been conducted time to time to adjudge the cleanest cities positions rank-wise; Indore in Madhya Pradesh has topped the list the third time as well.

PM Modi’s flagship sanitation campaign in India that aims to build toilets and clean up streets, roads and infrastructure of India’s cities, towns and rural areas. In urban areas, over 46 lakh individual toilets have been constructed out of nearly 94 lakh application received for toilet construction. Total community and public toilets stood at 3.1 lakh and the number of open defecation free (ODF) cities clocked at 2,212 as of May 24, 2018. In the rural areas, over 7.2 crore toilets have been constructed across all villages in India compared to 9.5 crore households that do not have toilets. More than 60 percent of the rural households in all sates are reported to have toilets except Odisha (55 percent) and Bihar (55.1 percent). Out of the 3.6 lakh villages which self-declared open defecation free (ODF), 2.5 lakh declarations have been verified. [3]

In October 2014, Bill Gates had praised Prime Minister Narendra Modi’s emphasis on building more toilets in the country. “Narendra Modi has India talking about toilets and that’s a great thing,” Gates said in a tweet which was retweeted by Modi. On his blog, Gates said, “This is not the kind of issue that most politicians like to talk about. But I would guess that in the short time he has been in office, Prime Minister Modi has done more to raise the awareness of the need for toilets than any other leader since the country gained independence“. [4]

  3. Pradhan Mantri Kaushal Vikas Yojana (PMKVY)

Pradhan Mantri Kaushal Vikas Yojana (PMKVY) is the flagship scheme of the Ministry of Skill Development & Entrepreneurship (MSDE) implemented by National Skill Development Corporation. The objective of this Skill Certification Scheme is to enable a large number of Indian youth to take up industry-relevant skill training that will help them in securing a better livelihood. Individuals with prior learning experience or skills will also be assessed and certified under Recognition of Prior Learning (RPL).

  4.Beti Bachao – Beti Padhao

“When you educate a man, you educate a man but when you educate a woman, you educate a generation”.  With an objective to generate awareness and to improve the welfare services provided to women, on January 25, 2015, Modi launched the Beti Bachao, Beti Padhao campaign. The focus was laid on 100 selected districts that are low in Child Sex Ratio (CSR) for safeguarding the survival and education of a girl child.  Beti Bachao, Beti Padhao (BBBP) was launched by the Hon’ble Prime Minister, Shri Narendra Modi, on 22nd January, 2015 in Panipat, Haryana as one of the flagship programmes of the Government, to address the declining Child Sex Ratio and related issues of empowerment of women on a life-cycle continuum. It is a tri-ministerial, convergent effort of Ministries of Women and Child Development, Health & Family Welfare and Human Resource Development with a focus on awareness and advocacy campaign for changing mindsets, multi-sectoral action in select 161 districts (low on CSR), enabling girls’ education and effective enforcement of Pre-Conception & Pre Natal Diagnostic Techniques (PC&PNDT) Act. The Scheme has been received well and has been successful in establishing the improvement in Child Sex Ratio as a National Agenda. It has resulted in increased awareness, sensitization and conscious building around the issue of declining CSR in the public domain. [7]

  5.Pradhan Mantri Jan-Dhan Yojana (PMJDY)

The Prime Minister’s Jan Dhan Yojana (PMJDY) is a financial inclusion programme that makes services like banking, remittance and insurance available to every Indian at affordable cost. Beneficiaries can open a zero-balance account. As of August 16, 2017, 295 million new bank accounts had been opened under the PMJDY. More than 176 million of these accounts are in rural India, and around 145 million are operated by women. [8]

PM Modi’s flagship financial inclusion scheme, Pradhan Mantri Jan-Dhan Yojana, aims to ensure access to financial services such as banking, savings and deposit accounts, remittance, credit, insurance, pension in an affordable manner. Launched in august 2014, the objective of this scheme was to connect more and more number of people to banking services. Under this scheme, 31.60 crore people across India opened a Jan-Dhan account as of May 9, 2018. By far, the PMJDY has emerged as one of the world’s largest financial inclusion programmes. Special benefits under PMJDY Scheme include accidental insurance cover of Rs 1 lakh, no minimum balance requirement and a life cover of Rs 30,000 payable on death of the beneficiary. The PMJDY has emerged as one of the world’s largest financial inclusion programmes. [9]

    6.Prime Minister Ujjwala Plan/ Pradhan Mantri Ujjwala Yojana (PMUY)

Launched on May 1, 2016, its aim was to provide the LPG connection to BPL families at subsidized rates. Under the PM Ujjwala Yojana, the government aims to provide LPG connections to below poverty line (BPL) households in the country to replace unclean cooking fuels used in rural India with the clean and more efficient LPG (Liquefied Petroleum Gas). Earlier this year, the Centre had revised its target to provide LPG connections to eight crore from five crore. Nearly four crore (3,98,77,723) connections have been given under the scheme so far, about 80 lakh of them in the past five months. [10]

    7. Deen Dayal Upadhyaya Gram Jyoti Yojana (DDUGJY)

The idea of electrifying every village in India was conveyed by PM Modi in his August 15 speech in 2015 where he promised electrification all un-electrified villages within 1,000 days. As per government records, by April 1, 2015, India had about 18,452 unelectrified villages. The task to electrify the remaining villages was completed in 988 days as on April 28, 2018 as electricity reached Manipur’s Leisang village after over 70 years of Independence under the Deen Dayal Upadhyaya Gram Jyoti Yojana (DDUGJY). The Prime Minister, however, launched a Rs 16,320-crore Pradhan Mantri Sahaj Bijli Har Ghar Yojana, or Saubhagya scheme to provide electricity connections to over 40 million families in rural and urban areas by December 2018. Out of the set target to provide electricity connection to 3,80,23,012 households, the government has so provided electricity connection to 61,89,812 houses as on May 25, 2018. [11]

Aimed at providing round the clock power to rural households and adequate power to agricultural consumers, the DDUGJY involved feeder separation, strengthening of sub-transmission and the distribution network, metering at all levels, village electrification, and setting up micro-grid and off-grid distribution networks. [12]

    8. Ayushman Bharat

The Ayushman Bharat Yojana is also known as Pradhan Mantri Jan Arogya Yojana (PMJAY) or National Health Protection Scheme or Modicare. Ayushman Bharat aims to provide healthcare facilities to over 10 crore families covering urban and rural poor. PMJAY-Ayushman Bharat is the biggest government-sponsored healthcare scheme in the world. The scheme offers an insurance cover of Rs 5 lakh, which will cover almost 50 crore citizens. [13]

Its no longer the case that there is an absence of healthcare facilities for the poor in the country. As Modi always states “Govt. schemes and policies are for the poor of the country.” The sole motto of this scheme is to covering both preventive and pro-motive health, to address healthcare holistically. [14]

Ayushman Bharat is Narendra Modi government’s flagship healthcare scheme that aims to provide medical coverage to over 10 crore poor families. The Narendra Modi government has received appreciation from the billionaire philanthropist Bill Gates on the first 100 days of the Ayushman Bharat Scheme. Gates also congratulated the government for providing healthcare benefits to 6.85 lakh people in such a short span of time. In his tweet, Gates wrote, “Congratulations to the Indian government on the first 100 days of @AyushmanNHA. It’s great to see how many people have been reached by the program so far. @PMOIndia” [15]

    9. Pradhan Mantri Kisan Samman Nidhi

Pradhan Mantri Kisan Samman Nidhi is an initiative by the government of India in which 120 million small and marginal farmers who have less than 2 hectares (4.9 acres) of landholding will get up to ₹6,000 (US$87) per year as minimum income support. The initiative was announced by Piyush Goyal during the 2019 Interim Union Budget of India on 1 February 2019. The PM-KISAN scheme aims to supplement the financial needs of the SMFs in procuring various inputs to ensure proper crop health and appropriate yields, commensurate with the anticipated farm income at the end of the each crop cycle. 

      10. Khelo India

Aim was to promote sports in youth. Thus the proposal of Khelo India was something of a fresh breath in the stale air that had settled around Olympic sports in India. To the apparent eye, the success of the Khelo India School Games has been immense with a viewership of over 100 million and participation of over 3000 young athletes.

Until the inaugural KISG took place in January, there was almost no specific scouting of talented athletes in India but for the SAI National Sports Talent Contest. The appointment of a sports icon and India’s first ever Individual Silver medallist brought with it a promise of setting things rolling in the right direction.

The objective of the KISG was to help India’s youth develop into a contender in international sporting events by helping them with funds, coaching, top-notch infrastructure, raising awareness regarding the importance of physical fitness, encouraging the development of women’s sport and so on. The Games were spread over 16 disciplines which are Archery, Athletics, Badminton, Basketball, Boxing, Football, Gymnastics, Hockey, Judo, Kabaddi, Kho-Kho, Shooting, Swimming, Volleyball, Weightlifting, and Wrestling.

The sports budget received a considerably large hike in the 2018 budget, a total of Rs 1943 crore. The initial money that was alloted for Khelo India was Rs. 140 crores. But after the latest developments, the budget has been increased to Rs 350 crores. These have been some shortcomings of the Khelo India School Games that are a shade difficult to ignore. However, there is no denying that this was still a step forward, irrespective of big or small. [17]

    Sources:

[1]http://bit.ly/2ZhLR4b

[2]http://bit.ly/2ZhLR4b

[3]http://bit.ly/2F3VlIK

[4]http://bit.ly/2APaHP2

[5]http://bit.ly/2ZhLR4b

[6] http://bit.ly/2F4wJiX

[7] http://bit.ly/2ZhfbYD

[8] http://bit.ly/2F4wJiX

[9]http://bit.ly/2F0Gm2c

[10]http://bit.ly/2F3VlIK

[11] ibid.

[12]http://bit.ly/2ZjMwC9

[13]https://economictimes.indiatimes.com/articleshow/65920546.cms?from=mdr&utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst.html

[14] http://bit.ly/2QlgMYM

[15]http://bit.ly/2APaHP2

[16] http://bit.ly/2Zpnuln

[17] http://bit.ly/2F2tzMQ

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