Will address concerns of Dalit entrepreneurs: Finance Minister

Our Bureau Pune | Updated on May 28, 2020

Finance Minister Nirmala Sitharaman chairs the 22nd Financial Stability and Development Council (FSDC) meeting through video conferencing, in New Delhi. Union Minister of State for Finance Anurag Thakur is also seen.   -  PTI

Finance Minister Nirmala Sitharaman on Thursday assured the Dalit Indian Chambers of Commerce (DICCI) to address issued raised by Dalit entrepreneurs trying to resume operations after lockdown due to Covid-19 spread.

Addressing entrepreneurs in a webinar, Minister said the issued raised during the discussions will be addressed on priority and departments will take appropriate actions. Minster and participants discussed special measures for the Scheduled Caste (SC) -Scheduled Tribe (ST) entrepreneurs aimed at reviving business post-Covid-19 lockdown.

This was for the first time that the Finance Minister addressed any business chamber in the country, since the lockdown.

Sitharaman said that DICCI was professionally addressing the concerns on the ground and contributing to policymaking. She lauded the efforts undertaken by the Chamber for championing the cause of Dalit entrepreneurship and empowerment.

The DICCI is one of leading forums of Dalit Entrepreneurship and Commerce under its Founder Chairman Milind Kamble. In his presentation, Kamble emphasised that to meet the working capital requirements, the credit limit must be increased from the existing 20 per cent to 40 per cent of the company turnover.

He further pointed out that the government must consider the creation of 15 per cent margin money support scheme for Stand-Up-India Scheme for enabling SC-ST entrepreneurs to avail the credit facility.

Amongst the other demands made included the need for the creation of MUDRA 2.0 to support credit facilities to nano and micro-entrepreneurs, reconstitution of National Scheduled Caste Finance Development Corporation (NSFDC) into non-banking financial company for channelling the SC development funds directly to the SC entrepreneurs and yield result-oriented outcomes.

Published on May 28, 2020

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