The government is aiming at creating a conducive atmosphere to mould the approximately two lakh youngsters who pass out of technical educational institutions annually as entrepreneurs.
According to the Economic Review, 2018, released here on Wednesday, many young professionals have the potential to become entrepreneurs.
The Kerala State Industrial Development Corporation (KSIDC) has initiated a special financial assistance scheme, Angel Fund or Seed Fund, to promote entrepreneurship.
Job generation
The KSIDC sanctioned projects worth ₹305.5 crore in 2017-18 with a direct term loan assistance of ₹150.2 crore. These projects are expected to generate 2,400 jobs. A permanent Public Enterprises Selection Board is being set up for selecting a cadre of top management professionals in a transparent manner. Convergence and mergers of public sector undertakings manufacturing similar products has been planned.
With a special thrust on ease of doing business, an online single-window clearance system has been introduced to expedite approvals for industrial projects. Thrust needs to be laid on manufacture of pharmaceuticals and medical equipment.
The Gross State Domestic Product (GSDP) for agriculture and allied activities such as livestock, forestry, fishing, and aquaculture registered a growth of 3.64% in 2017-18. This is a substantial improvement from the 0.08% in 2016-17, the review says.
