Dreaming is supposed to be the first step toward achievement. Dreams, on the other hand, are like an endless sky. Whose boundaries aren’t set in stone, but what happens when your dreams are encircled in a circle? What happens when the route is arduous and dreams seem unattainable to achieve… but it’s not because you’re merely dreaming and can’t make them a reality. With the right approach, leadership, and financial backing, dreams can come true.

If you want to add business in your dream list . You can overcome all the challenges with your Hard Work, Determination, Zeal & with the help of government The government has launched many business programmes to lessen the load and stimulate new business setup and startups.

The following are some of the Union Government’s Business Schemes.

Rashtriya Krishi Vikas Yojana an umbrella scheme for Agriculture

The Rashtriya Krishi Vikas Yojana (RKVY) is an umbrella scheme that was launched in 2007 with the goal of promoting comprehensive development in agriculture and allied services. Rashtriya Krishi Vikas Yojana was renamed Rashtriya Krishi Vikas Yojana – Remunerative Approaches for Agriculture and Allied Sector Rejuvenation (RKVY – RAFTAAR) on November 1, 2017. This programme promotes agribusiness and agripreneurship. It encourages the improvement of agricultural activities by providing financial assistance and cultivating the agribusiness incubator ecosystem.

This programme encourages individuals to start an agriculture-related business or become agricultural entrepreneurs. The incubators established under this programme will train agripreneurs through the various stages of the business life cycle and offer them with opportunities to develop new agricultural products and services.

The Ministry of Agriculture is financing startups for the years 2020-21 as part of RKVY’s innovation and agripreneurship component. Agro-processing, digital agriculture, farm mechanisms, fisheries, dairy, artificial intelligence, and other industries may be represented by startups. Agripreneurship Orientation, Seed-stage funding from RKVY – RAFTAAR Agri-Business Incubator, and Idea/Pre-Seed Stage Funding for Agripreneurs are all included in the scheme.

A Scheme for Promotion of Innovation, Rural Industries, and Entrepreneurship (ASPIRE)

A Scheme for Promotion of Innovation, Rural Industries, and Entrepreneurship (ASPIRE) was established to establish incubation centres and a network of technology centres to promote entrepreneurship and startups for agro-industry innovation.

This programme assists and promotes entrepreneurs and startups in the agro-industry by offering incubation facilities, funding, and access to a technology network. Livelihood Business Incubators, Technology 
Business Incubators, and a fund managed by the Small Industries Development Bank of India are the components of ASPIRE (SIDBI).

SIDBI, Coir, Khadi Industries, and others handle the funding under this scheme since the initiatives conducted are important sources of livelihood for millions of people in India. Livelihood Business Incubators strives to eliminate unemployment by creating jobs on a local level. Technological Business Incubators focus on expanding centres, which aids in the development of technology networks. SIDBI plays a vital role in the overall management of the scheme, as well as providing support to other components of the scheme, which helps to produce revenue for the people by boosting job opportunities.

MUDRA; Get up to loan of Rs.50,000 to Rs. 10,00,000

The Government of India established the Micro Units Development and Refinance Agency Bank (MUDRA Bank) or Mudra Loan as a new financial institution. It was established in accordance with the Pradhan 
Mantri MUDRA Scheme (PMMY). Mudra Bank’s mission is to build micro-units and provide refinancing to Micro Finance Institutions. The loans are intended to promote entrepreneurship and new businesses. 

Small manufacturers, small entrepreneurs, farmers, start-ups, individuals, merchants, vendors, restaurants, and bakeries, among others, are eligible for mudra loans.

The interest rates for mudra loans are not fixed; they are determined quarterly by RBI policy. For 1 to 5 years, the interest rates are typically between 8.40 percent and 12.45 percent. The mudra banks have launched three products, Shishu, Kishor, and Tarun, which represent the stage of growth and financial requirements for micro-units, entrepreneurs, and startups. Shishu provides loans up to a maximum of Rs.50,000. Kishor provides loans ranging from 50,000 to 5,000 rupees. Tarun offers loans ranging from Rs. 5,00,000 to Rs. 10,00,000 in value.

Multiplier Grants Scheme

The Department of Electronics and Information Technology is in charge of implementing the Multiplier Grants Scheme. This programme fosters the country’s R&D development. The goal of this programme is to promote collaborative R&D between businesses and academics or R&D institutes for the development of goods and packages. This programme promotes institutes to do industry-oriented research and development. It aids in the transition of a product/package from R&D to commercialization.

If the industry supports R&D for the creation of a product that can be commercialised at the institutional level, the government will likewise support that product financially. The government will contribute up to twice the amount that the industry contributes. Industry and institutions collaborate to submit proposals for financial assistance under this programme. The overall cost of the plan is Rs.36 crores, with a contribution of Rs.24 crore from the Department of Electronics and Information Technology. This initiative is implemented through the Technology Development Council budget head.

Support for International Patent Protection in Electronics & Information Technology (SIP-EIT)

In the field of patents, SIP-EIT provides financial assistance to MSMEs and Technology Startup units. This programme assists MSMEs in the international patent filing process in order to promote innovation and recognise the benefits and capabilities of a global international patent. This programme was proposed to assist MSMEs and Technology Startup Units in obtaining worldwide patent protection for their unique works.

It is a government of India effort led by the Department of Electronics and Information Technology (MEITY) to assist MSMEs and Technology Startup units in submitting international patents by giving financial assistance. It also aids in the capture of growth prospects in the information, communication, and electronics sector.

Credit Guarantee Scheme for Startups (CGSS), qualifying beneficiary can credit guarantee of up to Rs.5 crore

The National Credit Guarantee Trustee Company serves as the trustee for the Credit Guarantee Scheme for Startups. The Government of India announced this initiative to help the startup industry. Setting up a business or firm is not easy for an entrepreneur. They are confronted with two major challenges: a lack of suitable capital and the banks’ opinion of them as a high-risk entity. The government created this programme to help people overcome their difficulties.

This scheme was introduced with a Rs.2000 crore donation to help startups get collateral-free loans to start their businesses. This scheme provides credit facility users with a guarantee cover for a set length of time. Every qualifying beneficiary is granted a credit guarantee of up to Rs.5 crore, which includes support such as working capital, debentures, term loans, venture capital, and so on.


Small enterprises, after agriculture, are the second greatest source of employment in the Indian economy. Small firms, in comparison to large organizations, create the greatest amount of job possibilities per unit of capital invested. As a result, they are the second greatest source of human resource employment. The above-mentioned government schemes can not only assist you in starting your own company but this can lead to a large no of employment generation. Which will eventually decrease the unemployment rate in country .

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Dr. Kirti Sisodhia

Content Writer

CATEGORIES Business Agriculture Technology Environment Health Education
Rishita Diwan – Chief editor

Rishika Choudhury – Editor


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