GST: Karnataka govt signs up 21 companies to help SC/ST youth turn entrepreneurs

BENGALURU: The state government on Tuesday signed up 21 firms including Uber, Ola, Swiggy and Bata for its ambitious programme of creating 10,000 entrepreneurs annually over the next three years from among the SC/ST youth.

Once skilled and certified by the partner enterprises, the youth will be free either to pick up a job or start a venture of their own with seed funding from the Social Welfare Department. The funding support will go up to Rs 10 lakh.

he government has set aside Rs 800 crore for the programme it has named Samruddhi. “What we are doing is India’s most aspirational skilling and entrepreneurship programme. We are tying up with service as well as retail firms,” social welfare minister Priyank Kharge told ET. The seed fund approach, Kharge said, is a move away from the traditional business loans as the government saw a potential for misuse of loans. “The seed grants are secure and will directly reach the intended beneficiaries,” he said “I wrote to about 220 companies, of which 130 responded, seeing our initiative as very positive. I hope to sign up another 70 firms before November 7, after which beneficiaries will have access to forms,” Kharge said. “I am also in talks with Walmart,” he said.

The partnership with the industry will lead to training in retail management, taxation policies and GST, inventory management, soft skills and logistics.

The programme, according to Kharge, will create a huge impact in tier II and tier III cities. “We have to dream big and we have to dream outside the main cities of Bengaluru, Mysuru, Mangaluru and so on,” the minister said.

The government has roped in TiE, CII and EY for activities such as skilling, tie-ups with companies, hand-holding and evaluation of business ideas.

Source- Economic Times.

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