Ministers KT Rama Rao, Mohd Mahmood Ali and Satyavati Rathore attending the CMSTEI and MSME scheme asset distribution event, in Hyderabad on Monday. , Photo credits: Ramakrishna ji.
Aspiring entrepreneurs belonging to the Scheduled Tribe (ST) community should make good use of the opportunities being provided by the Government of Telangana. Industries, Commerce and Information Technology Minister KT Rama Rao on Monday said that this is the best time to start his entrepreneurial journey.
He was speaking at the asset distribution program in CM ST Entrepreneurship and Innovation Scheme (CMSTEIS) and MSME scheme held at Sewalal Banjara Bhavan.
Since the launch of the scheme in 2018, more than 300 candidates from the ST community have been given capacity building training at the Indian School of Business-Hyderabad. Out of them, 95 candidates have been provided assistance of Rs 108 crore to set up their business. Proposals of another 77 candidates are currently under bank assistance acceptance stage.
The minister said that through this scheme the risk of entrepreneurship is reduced through government subsidy. Candidates will have access to collateral-free bank loans and will be provided with risk management and advisory support through DICCI, CII and ALEAP. He said that the government would also give relaxation in payment of property tax for the units set up under CMSTEIS.
Congratulating the selected candidates, Mr. Rama Rao asked them to provide employment not only to the Scheduled Tribes but also to other needy people. He also asked the concerned officers to collaborate with the entrepreneurs so that awareness can be spread in the districts as well.