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Rs.500-cr. corpus fund on the cards for SC/ST entrepreneurs

Special Correspondent
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Geeta Reddy promises loan of Rs.1 cr without collateral security

Peddapalli MP G. Vivekanand with Major Industries Minister J. Geeta Reddy at the workshop on “Affirmative action and supplier diversity” organised by CII and DICCI, in Hyderabad on Thursday.--Photo: Mohammed Yousuf
Peddapalli MP G. Vivekanand with Major Industries Minister J. Geeta Reddy at the workshop on “Affirmative action and supplier diversity” organised by CII and DICCI, in Hyderabad on Thursday.--Photo: Mohammed Yousuf

The State government is planning to create Rs.500 crore corpus fund to support SC/ST entrepreneurs, Major Industries Minister J.Geeta Reddy said here on Thursday.

Talking to reporters on the sidelines of a workshop on “Affirmative action and supplier diversity” organised by the Confederation of Indian Industry (CII) and Dalit Indian Chamber of Commerce & Industry (DICCI), she said that a similar corpus fund was set up by Maharashtra and the State government was examining a proposal in this regard.

She would take up the issue of creating a corpus fund and the need to enhance loan amount for SC/ ST entrepreneurs to Rs.1 crore without any collateral security with Chief Minister N. Kiran Kumar Reddy. The State government was also examining a proposal to reserve four per cent of the total procurement from SMEs on the lines of a similar scheme initiated by the Centre.

She said following encouragement given to weaker sections by the State government in the industrial policy, the number of SC entrepreneurs went up to 2,639 during 2011-12 as against 178 in 2001. Similarly those of ST entrepreneurs increased to 612 from 45.

Asserting that the State government was committed for the welfare of Dalits, depressed classes, STs and other weaker sections, she said that many SC/ST youth would find employment under the Rajiv Yuva Kiranulu scheme.

‘Set targets’

DICCI president Milind Kamble urged the captains of Indian industry to emulate their American counterparts, who sought to remove discrimination through affirmative action. The time has come for the industry to set targets in terms of providing employment for SCs/STs and also source 5-10 per cent requirements from SC/ST vendors as part of supplier diversity.

Coordination panel

C.R. Swaminathan, chairman, affirmative action committee, CII Southern Region, said CII would form a coordination committee with DICCI members to promote affirmative action in the industry.

Pradeep Chandra, Pirncipal Secretary, Industries also spoke.


  • State examining a proposal to reserve 4 per cent of total procurement from SMEs, says Minister

  • ‘Following encouragement in the industrial policy, the number of SC/ST entrepreneurs has gone up’



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