‘Entrepreneurship key to employment’
Minister distributes Rs 1.60 cr as seed capital among 50 entrepreneurs
GK NEWS NETWORK
Srinagar, Feb 5: Asserting that generating dignified job avenues for youth is the top most priority of the government, Minister for Finance today said that Entrepreneurship development is being promoted as an effective antidote to the chronic unemployment problem by changing the perception and approach of the youth to life. “We can’t afford to see our human resources frustrated due to unemployment,” he added.
Speaking at a function organised at J&K Entrepreneurship Development Institute (JKEDI) at Pampore near here today in connection with distribution of Rs 1.60 crore among 50 new entrepreneurs of Kashmir under seed capital fund scheme of Sher-i-Kashmir Employment and Welfare Programme for Youth (SKEWPY) for setting up their self-employment ventures, the Finance Minister said that entrepreneurship not only provides dignified channels of livelihood but also addressed the problem at Social, Psychological, economical and financial levels. Describing the SKEWPY a well thought revolutionary initiative of the present dispensation to address the burgeoning unemployment problem.
The Minister said earlier to this scheme, the entrepreneurs were supposed to pay seed money by themselves followed by cumbersome banking procedures for getting loans, which had made the entire self-employment scheme impracticable. “Now the government provides 30 percent cost of the unit as seed capital, which is even non refundable and banks have been asked to clear loan cases within two months, which has made the Seed Capital Fund Scheme of SKEWPY most attractive, practicable and beneficial, he added.
However, he said, the scheme yet being in its infancy, needs wide awareness among the youth to understand it fully. He hoped that incoming days the scheme would prove a harbinger of huge economic activity in the state. After handing over seed capital sanction letters to 55 entrepreneurs and training participation certificates among 88 entrepreneurs one by one, the Minister advised them to work with sincerity and honestly as successful job providers and become beacon light for other unemployment youth to follow. He said the Seed Capital Fund Scheme has the potential of changing the economic complexion of the state adding that the government would provide every possible support to the JKEDI in promoting and popularising the scheme and to enable the unemployed youth to take up income generating ventures for earning dignified livelihood for themselves.
Describing today’s distribution of seed capital sanction letters as a humble beginning and a strong corner stone for an effective economic revolution in the state, he said “We have to put our heads together in shaping the destiny of our state which is confronting fragile economy and limited resources”.
Lastupdate on : Sat, 5 Feb 2011 21:30:00 Makkah time
Lastupdate on : Sat, 5 Feb 2011 18:30:00 GMT
Lastupdate on : Sun, 6 Feb 2011 00:00:00 IST
- MORE FROM BUSINESS
- Kashmir Inc demands transfer of power projects to JK
- J&K Bank opens branch in north Kashmir village
- Trade, tourism bodies, academics suggest ways to strengthen economy
- ‘Entrepreneurship key to employment’
- CCIK opposes govt's new OD arrangement
- Vikram Chowk shopkeepers protest police ‘highhandedness’
FAMILY VOWS TO CONTINUE STRUGGLE
Srinagar, Feb 5: Last one year for Zahid Farooq’s family- killed by paramilitary BSF on Feb 5, 2010- has been traumatic. His father, Farooq Ahmad Sheikh is suffering from insomnia, sister Farhat has been More
- Srinagar City
City police bags first position in debate
GK NEWS NETWORK
Srinagar, Feb 5: The Inspector General of Police, Shiv Murari Sahai on Saturday asked the cops to respect human rights while acting as law enforcing agency. “IGP while inaugurating the debate emphasized More
MEGA POLICE DURBAR HELD IN JAMMU
Jammu, Feb 5: The Director General of Police (DGP), Kuldeep Khoda today underscored the need for transparency in the day-to-day functioning of police to bring about a positive change in the public More
- News in brief
Bandipora: District Magistrate Bandipora, Manzoor Ahmad Lone today under section 144 Cr Pc has banned the sale, purchase and readymade dress of army pattern and use of service uniforms by civilians More
Asks govt to review its agreements with NHPC
GK NEWS NETWORK
Srinagar, Feb 5: The Kashmir Chamber of Commerce and Industry today demanded transfer of central sector power projects in J&K to the state. The chamber said the government should also review its More
PRESS TRUST OF INDIA
Guwahati, Feb 5: For the first time in its 31- year-long struggle, the banned ULFA today decided to hold face -to-face talks with the Centre and said there was no split in its ranks on the issue.  More