The Prime Minister of India, Shri Narendra Modi Ji has launched the National SC/ST hub along with the ZED (Zero Effect, Zero Defect) scheme for MSME sector. The same were launched by the PM during an event held on 18 October in Ludhiana. Along with this, PM also distributed 500 traditional wooden charkhas (spinning wheels) among women.
Introduction to National SC/ST Hub
National SC/ST hub has been setup to facilitate things to people from SC/ST categories to start their own micro, small and medium enterprises (MSME) units. The government has set an initial budget outlay of Rs. 490 Crores for the National SC/ST hub.
The Hub will work towards strengthening market access/linkage, monitoring, capacity building, leveraging financial support schemes and sharing industry-best practices for entrepreneurs belonging to the SC/ST categories. The hub will also enable central public sector enterprises to fulfill the procurement target set by the government.
Under the scheme, the nationalized banks will provide loans to SC/ST men and women entrepreneurs up to Rs. 1 Crore to make them self dependent and employ the youth.
The SC/ST hub will further help in increasing the contributions of MSME sector to India’s GDP which is about 38% at present. The MSME sector employs about 11 Crore people at present. The announcement of setting up the National SC/ST hub was made by the finance minister Shri Arun Jaitly in his budget speech of 2016-17.
The scheme will be implemented by the Ministry of Micro, Small and Medium Enterprises. More information about the National SC/ST hub can be viewed on the official website of ministry at http://msme.gov.in/mob/home.aspx