The Uttar Pradesh government in August 2022, revamped its policy to boost micro, small, and medium enterprises (MSMEs) and encourage and groom women entrepreneurs. Under the proposed new policy, women entrepreneurs would receive a number of benefits that could help them in the long run, to steer their small businesses successfully.
Here are some Incentives and Schemes for women entrepreneurs in Uttar Pradesh.
> Start-up Policies to provide funding support
As far as Government Incentives go, one can track the State Start-up Ranking Framework issued on 18th February 2019 by DPIIT, Government of India, which stated that state start-ups policies must provide seed funding support in following ways e.g.`Direct Government grant, Subsidized loan, Equity seed funding, Product development/marketing financial assistance and Monthly sustenance allowance. Therefore, the policy introduced seed funding support in the form of Sustenance Allowance and Seed Capital for marketing the products/ideas under: Sustenance Allowance, Seed Capital/Marketing Assistance, Support to startups, Patent filing cost, and Event participation.
> Revamped MSME Policy
The government of Uttar Pradesh had announced in August 2022, to offer subsidies to support women entrepreneurs and attract capital investments. The UP government is this revising its strategy to support micro, small and medium enterprises (MSMEs) and promote women entrepreneurship.
Women business owners would be given a 100% stamp duty subsidy on land purchases for establishing micro and small units under the proposed new policy. Besides, a 50 to 100 percent subsidy will be given to other MSMEs, depending on their location in the state. According to the proposed new policy, the state would offer a 100 percent stamp duty subsidy in Bundelkhand and Purvanchal, while central and western Uttar Pradesh (apart from Noida and Ghaziabad) would receive a 75 percent subsidy.
> Mission Shakti
Women’s empowerment has always been positioned at the core of inclusive growthpolicies of Government of Uttar Pradesh. There are various initiatives and programswhich focus on the inclusive development of women in the state. A major initiative is:Mission Shakti. This is UP government’s flagship program which is aimed at promotingthe security, dignity and empowerment of women.
Moving ahead, the Uttar Pradesh government on September 30, 2021 launched the’Nirbhaya-Ek Pahal’ programme under Mission Shakti – Phase 3 in Lucknow. As perChief Minister Yogi Adityanath, as many as 75,000 women will get connected with statebanks, get loans at cheaper interest rates and be able to avail benefits of state subsidies under the PM Mudra Yojana for three months under the new initiative – The Nirbhaya-Ek Pahal scheme.
The Nirbhaya Ek Pahal scheme comes under Phase 3 of Mission Shakti.
> Udyog Bandhu
This scheme is provided by the Department of Infrastructure and Industrial Development, Government of Uttar Pradesh and it facilitates investments in both industrial and service sectors. The main vision is to make Uttar Pradesh ‘the most preferred investment destination in India’. For making this a reality, it employs many investment policy drivers and also is improving infrastructural and business environment across the state. Evidently, this upgradation of business infrastructure can instigateeconomic growth of the state. The various policies laid down by Udyog Bandhu or the same are Industrial Investment and employment promotion policy UP 2017, UP Textile Policy 2014, Biotech Policy UP 2014, and Food Processing Industrial Policy etc.
> Sarkari Yojana
Start-Up India Scheme for Women Entrepreneurs – this scheme works to push participation of women in entrepreneurship. Subsequently, the scheme has special provisions for women entrepreneurs. A complete list of Sarkari Yojana for farmers, unemployed youth, women, students and other categories of the society launched by Uttar Pradesh Government in 2022 and earlier too.The central government is assisting the independent entrepreneurs and in this connection, it has made alliances with some US technological firms.
> Pradhan Mantri Mudra Yojana (PMMY)
This scheme provides financial assistance to non-corporate small business houses. The small business houses employ a major part of the Indian population. Women entrepreneurs receive a loan amount of 47.53% of the total amount disbursed. In Uttar Pradesh the loan amount is 46.78% of the total amount disbursed.
> Grievance Redressal System
The Grievance Redressal System can be of great help to women entrepreneurs. It is a single-window redressal system – for encouraging entrepreneurs at the District Industries Centres (DIC’s). This scheme assists in resolving problems providing approvals, sanctions, licenses required from different departments. It also resolves grievances of any enterprise.
> Marketing Development Assistance Programme for Export Growth
Introduced in 2006-07, the objective of this scheme is to promote marketing done by various industrial units. It provides assistance for benefits in the market. Assistance is provided in small scale industries, handicrafts, Khadi and Village industries and Handloom sectors of Uttar Pradesh.