Launching a startup in India is exciting, but getting access to funding can be a real hurdle, especially without assets to back a loan. That’s where the Credit Guarantee Scheme for Startups (CGSS) steps in. So, what is CGSS scheme? It’s a government-backed initiative launched by the Department for Promotion of Industry and Internal Trade …
Read MoreThe government launched the PMFME Scheme (Pradhan Mantri Formalisation of Micro Food Processing Enterprises) on June 29th, 2020, as part of the Atmanirbhar Bharat initiative. This scheme helps small (unorganised) food processing businesses by providing financial support through credit-linked subsidies. This subsidy covers 35% of the total project cost. However, the PMFME loan scheme provides …
Read MoreWhat is a subsidy in economics? Simply put, a subsidy is a financial contribution offered by the government or a public authority to reduce the cost burden on individuals, businesses, or entire sectors. It typically comes in the form of direct cash support, tax exemptions, or reduced prices on essential goods. The meaning of subsidy …
Read MoreWomen in India are transforming the business landscape; however, many struggle with financial constraints. Moreover, access to credit remains a significant challenge, preventing numerous women from launching or expanding their businesses. As a result, without adequate funding, even the most promising business ideas fail to materialise. To bridge this gap, the Udyogini Scheme for Women …
Read MoreIndia’s Micro, Small, and Medium Enterprises (MSMEs) are crucial for economic growth, employment, and industrial development. MSMEs need formal recognition to access government incentives, subsidies, and financial benefits. Udyam Registration simplifies this by providing a government-recognised certificate. This certificate allows MSMEs to receive tax rebates, lower interest rates, and access exclusive schemes. This new system, …
Read MoreNSIC stands for National Small Industries Corporation Limited, is a government-backed institution that supports Micro, Small, and Medium Enterprises (MSMEs) in India. With the growing importance of small businesses in India’s economy, NSIC helps MSMEs access financial assistance, raw materials, and government tenders. What is NSIC? The Government of India founded the National Small Industries …
Read MoreRecognising the essential contribution of MSMEs in driving the nation’s economic growth and generating employment, the Government of India has introduced several government business loan schemes. These schemes facilitate collateral-free business loans, subsidised business loan interest rates, credit guarantees and flexible repayment terms. This curbs the challenges faced by MSME businesses with traditional lending institutions …
Read MoreStarting a new company is an exciting experience, full of limitless potential and opportunities. One of the critical factors of a beginning company is acquiring appropriate business loan financing. The Indian government, acknowledging the importance of small and medium-sized firms (SMEs) in economic growth and development, implemented the Pradhan Mantri Mudra Yojana (PMMY). The scheme …
Read MoreIntroduction to Pradhan Mantri Jan Aushadhi Kendra Yojana The Pradhan Mantri Jan Aushadhi Kendra Yojana empowers you to provide affordable, high-quality generic medicines to your community while seizing lucrative business opportunities. This government scheme bridges the gap in healthcare accessibility, ensuring everyone can afford essential medications. By establishing a Jan Aushadhi Kendra, you not only …
Read MoreThe Government of India, aiming to foster a culture of innovation and entrepreneurship, launched the Atal Innovation Mission (AIM) through NITI Aayog with an initial funding of ₹150 crore. AIM supports SMEs and MSMEs by offering resources and opportunities to drive innovation and research. Additionally, it provides access to business loans and machinery loans, empowering …
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