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News: According to the Ministry of Rural Development, over 64,000 rural enterprises have been formed under the Start-up Village Entrepreneurship Programme(SVEP) which have generated an estimated 1.3 lakh employment opportunities across States in two years.
Facts:
- Start-up Village Entrepreneurship Programme(SVEP): It was launched in 2015-16 as a sub-scheme under the Deendayal Antyodaya Yojana – National Rural Livelihoods Mission(DAY-NRLM).
- Aim: To help the rural households including women to set up enterprises.
- Objectives:
- To enable rural poor to set up their enterprises by developing a sustainable model for Village Entrepreneurship promotion through integrated ICT techniques.
- Develop local resources by training a pool of village level community cadre (CRPEP)
- Help the rural entrepreneurs to access finance for starting their enterprises from the NRLM SHG and federations, the banking systems including the MUDRA bank.
Additional Facts:
- DAY-NRLM: It was launched by the Ministry of Rural Development (MoRD) in 2011.
- Aim: To create efficient and effective institutional platforms of the rural poor by enabling them to increase household income through sustainable livelihood enhancements and improved access to financial services.
- Funding: The program is aided in part through investment support by the World Bank.
