Kerala Government to issue INR 500 Crore fund to support young entrepreneurs

GovermentofKerala-logoKerala Government, in its attempt to support student entrepreneurs, has recently allocated an amount of INR 500 crores for entrepreneurship schemes of the young, as reported in a post by ManormaOnline.com, a local publication house of the state. The amount will be approximately one percent of the state’s budget as revealed by Chief Minister Oommen Chandy in the post.

The funds will be available to those venturing out in the fields such as agriculture, tourism, entertainment, industries and similar sectors.

Last year, during the budget speech 2013-2014, Sri.K.M.Mani, Hon’ble Minister for Finance, Govt. of Kerala have announced the student entrepreneurship programme, thereby allocating a fund of INR 15 crore to promote that.

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As a phase II, the project was recently extended to school going students. Also, the Chief minister declared 12 September as the state’s Entrepreneurship Day.

As per Chandy, the programme received a huge response from the young, mostly students who have turned to the IT sector. Therefore, as  a result, this time the programme has been extended to other sectors also.

In his attempt to encourage students to opt for entrepreneurship, he asked all colleges in state to begin entrepreneurship development clubs. Also, from now on, all student entrepreneurs in Kerala, will get 20 percent grace on attendance and four percent on marks.

In a recent event, the Chief Minister connected with more than two million school and college students through Google Plus Hangout. The announcement was made shortly after that.

 To contact author, email at meha@wirefootindia.com

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