Fuel entrepreneurial ambitions with govt. support, KTR urges ST youth

Minister says aspirants will have access to collateral-free bank loans; property tax payment would be exempted for units set up under CM ST Entrepreneurship and Innovation Scheme

Aspiring entrepreneurs belonging to the Scheduled Tribe (ST) community should make good use of the opportunities being provided by the Telangana government. For, now is the best time to start their entrepreneurship journey, said Minister for Industries, Commerce and IT K.T.Rama Rao on Monday.

He was speaking at the asset distribution programme at CM ST Entrepreneurship and Innovation Scheme (CMSTEIS) and MSME scheme held at the Sevalal Banjara Bhavan.

Since the beginning of the scheme in 2018, over 300 candidates from the ST community have been given capacity building training at the Indian School of Business-Hyderabad. Of those, 95 candidates have been provided with assistance of ₹108 crore to set up their businesses. Proposals of another 77 candidates are currently under the bank assistance sanction stage.

The Minister said that through this scheme, the risk of entrepreneurship is reduced through government subsidy. The candidates will have access to collateral-free bank loans and risk management and mentorship support will be provided to them through DICCI, CII and ALEAP. The government will also be exempting property tax payment for units set up under CMSTEIS, he added.

Mr.Rama Rao, while congratulating the selected candidates, asked them to not only provide employment to people from the ST community but also others in need. He also asked officials concerned to collaborate with the entrepreneurs so that the awareness can be spread to districts too.