The Chief Minister announced on September 17 Haryana’s golden jubilee year would be one of development and job creation and appeared determined to walk the talk by setting up a Rs 1,000-crore corpus for the industry sector, particularly medium and small-scale enterprises (MSME).
He also said that in line with his government’s focus on startups, entrepreneurs would will be given collateral-free loans up to Rs 1 crore.
“We will focus on development and providing employment opportunities during the golden jubilee year and efforts will be made to provide employment to 2 lakh unemployed youths through entrepreneurs besides giving Rs 9,000 as supporting allowance to postgraduates who do not have a job. They will be provided 100 working hours from November 1 this year”, he said at an event organised by the Bombay Stock Exchange.
“The government wishes to empower industries through easier finance and funding options”, he added.
The CM’s words generated huge interest in the city, which is a leading start-up hub. Sandeep Aggarwal, Founder of Shopclues, said,
“If we list the most important things for the success of a startup, the first six would be capital. In such a scenario, it is important that entrepreneurs have access to affordable capital. The cost of capital in India is 16% as opposed to 2% in the US and 3-4 % in China. The startup fund is a welcome move. But the government should match the pace of its talk with the walk”.
Rajesh Sawhney, Founder of GSF accelerator and Inner-chef, said more clarity is required on which sector will be the focus for the government’s funds. “Also, how soon the funds reach the entrepreneur”, he said.
Source: Times of India
